Getting Quality Hires for Your Small Business
August 4, 2016
One of the challenges small businesses often face is finding the right candidates for essential staff positions. That’s because many of the top candidates would rather try their chances with multi-national corporations and other large businesses that offer many lavish perks and benefits that most small businesses can’t afford. A job offer from a small business simply offers a rewarding position and, sometimes, a more secure career path.
That’s because many of the top candidates would rather try their chances with multi-national corporations and other large businesses that offer many lavish perks and benefits that most small businesses can’t afford. A job offer from a small business simply offers a rewarding position and, sometimes, a more secure career path.
Despite the fact that small businesses really can’t compete with large corporations when it comes to benefits and other perks, you can still attract quality talent to your small business. You simply have to focus on the things your business does best, while highlighting how becoming part of the team benefits potential employees. Do that, and your small business will be able to poach top-level talent from much larger firms.
Here are a few simple things you can do to make your small business more attractive to job candidates:
1. Competitive perks and salary
Just because you can’t offer as many perks as a large business would doesn’t mean you shouldn’t bother coming up with incentives potential staff members will find attractive. At a minimum, your benefits package should be equal to that of other similar small companies, like your competitors. For best results, you want to offer a little more than the competition.
The reality is, being a small business doesn’t disqualify you from offering competitive benefits and salaries. In fact, it’s easier to accomplish this as a small business since you have more flexibility than a large business would. As a small business, you have the opportunity to build more meaningful relationships with staff members, and you can always sit down with your staff to find out which benefit options they find most desirable. Getting input from your employees also boosts their morale since their opinions are being valued.
It is also prudent to structure your compensation system to reward efficiency, hard work, and loyalty. This is another advantage you have over large corporations where bureaucracy reigns. Potential staff members will be pleased to hear that their hard work will be rewarded with benefits like profit sharing. It is also a good idea to offer equity to employees who are loyal to the company and have been productive for some time.
Most importantly, make sure you always deliver on your promises, so don’t offer any benefits if you have doubts about your ability to fulfil them in the future. Nothing destroys employee trust and morale like broken promises. Don’t do it!
2. Better work-life balance
Here’s another excellent way to rustle talent from larger businesses. No one wants to work 70 hours a week – regardless of how much the person claims to enjoy working – so come up with creative ways to allow your staff members to enjoy a better work-life balance. Potential employees pay close attention to such details. Allow your top performers to work from home a couple of times a week if possible, make room for schedule changes so your staff members don’t have to miss important social functions because of work.
By creating a better work-life balance, you will be instilling loyalty in your staff, while attracting potential hires. You might even save a few dollars since fewer employees in the office equals lower operating costs.
3. Advancement opportunities
This is one advantage you have as a small business owner that you want to entice potential employees with. Climbing the corporate ladder in a large corporation tends to be a very slow process due to the large number of people competing for the same promotions, but things move a lot faster when it comes to small businesses, which typically only have 5-15 employees. Make sure potential hires you deal with are aware of this reality. Is there a particular top candidate you are interested in hiring? Offer to mentor the person as an extra incentive.
4. Sense of belonging
It is certainly a lot easier to make your employees feel like they’re right where they belong when you’re running a small business. Due to their massive sizes, most employees in a large corporation don’t even know each other, but that would obviously not be the case for a business with only a dozen or so employees. With only a few employees to work with, dedicate some time to forming meaningful relationships with your staff. Simple things like asking an employee about how the person’s kid did at the rugby game he/she has been talking about all week, makes them feel appreciated and valued. Happy employees do not have time for unproductive things like complaining about the boss.
Not being able to offer lavish company vacations or high value stocks doesn’t prevent you from acquiring quality hires for your small business. There will always be top candidates who are willing to join a small company if you highlight the advantages that your business offers that a large business can’t. If you develop a reputation as a firm that takes care of its employees, while offering opportunities for growth, you will never have a shortage of talented people who are willing to work for you.
Ensuring profitability, managing day-to-day activities, and hiring skilled staff members is only the tip of the iceberg when it comes to running a business. The key is being able to figure out which tasks to prioritize, and which to delegate to the quality staff members following the above tips will bring to your business.
Senior Tech Talent Manager
An Irish cat living the dream in Sydney I don’t know what to tell ya! Even though I’m a long way from the homeland I’ve successfully built up 5 years of local industry knowledge specialising in emerging technologies. I have a strong JAVA and Ruby on Rails following in NSW and VIC. I also have extensive experience sourcing specialist software development teams for technology companies with highly transactional, high volume, data intensive environments. Let’s catch up for a pint, but do send me a message and we’ll see what happens!
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