Inside Self-Storage: Current HR trends prompt cautious approach by business owners

Current world events, the upcoming presidential election, and economic uncertainty are fueling a cautious approach within the self-storage industry, writes G&A’s senior client success manager Tracy Winn in a recent Inside Self-Storage article.

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In the article “3 Workplace Trends Impacting Self-Storage Operators in 2024,” Winn examines three HR trends that are expected to impact businesses this year, including the effects of an uncertain economy on small-business owners.

“What we do know is economic uncertainty can stir up fear that causes businesses to reevaluate their decision-making,” writes Winn.

This caution can lead to delaying growth initiatives, leaving open positions unfilled (and asking current employees to juggle more responsibilities), and scaling back expenses.

Amid this uncertainty, Winn says self-storage owners can focus on retention efforts to help minimize the high costs of employee turnover and improve business outcomes.

“Ultimately, stronger retention leads to a robust organization and happier team members, which often has a direct correlation with improved profitability,” says Winn.

Learn more about all three workplace trends, which you can read here.