Wondering how to hire top talents for your organization? These 5 proven tips on how small business can attract top talents without breaking a sweat is a must-read.
Attracting quality talents to a company especially small businesses is tough. Today, small businesses have to fight off competition from larger often, well-financed companies.
It becomes even more difficult in a booming economy to hire or retain skilled workers as several companies are also on the job market for these talents too.
According to a 2018 Goldman Sachs survey of over 10,000 small businesses 70% of owners say they struggle to not only find but retain skilled talents.
Clearly, the war for talent is on, it’s fierce and no prisoner taken. The shortage of talent is increasingly becoming an endemic small business challenge.
So, as a small business owner, how can you attract top talents to your organization? And, when you hire them, what can you do to retain them?
The following tips should help you out:
Offer Attractive and Competitive Reward Package; Plus, Flexible Opportunities
As a small business, you can offer a fulfilling and challenging job role, along with enjoyable work culture. This will give you a competitive advantage over other small businesses, especially within your industry.
Your small business should be able to adapt quickly to advancing technology along with open flows of communication. It should also promote innovation and creativity along with an employee-centric – or employee-friendly – culture.
Small businesses that thrive these days as a result of their top talents usually stand out when they offer flexible work schedules, free meals, and performance peaks.
Ambitious and talented candidates who seek flexibility, growth, and autonomy will see the value in what your organization is offering and give serious consideration to them.
Provide a Well-defined Career Path and Self-development Opportunities
Every talented person is only interested in getting a job that provides scope for some serious growth. So, if your goal is to build a high-performing and highly productive workforce, you need to make your offers very attractive.
This includes educational programs, skills training, re-training, etc. Find out the aspirations or dreams o your potential employees, then tailor all your courses accordingly. You should also ensure that your potential talent knows the value of these courses when it comes to career growth.
When these talents see the opportunity that you are offering and can also see the potential of developing their careers with your small business, it will become much easier to attract them and their ilk.
Pay a Competitive Wage
After all, is said and done, employees will often go where they are paid well. To attract experienced candidates to your business, be willing to pay above-average industry rate, or at the least, match what others are paying.
Fact is, all top talents deserve to be compensated appropriately, and one way to receive massive interest from talented applicants is to offer a competitive rate.
To do this effectively, you need to carry out adequate research to find out what the going rate is for the particular job role you’re trying to fill. Be sure to compare the local rates with what you intend to pay the new hire. And, markup the amount if your offer is way below the industry standard.
Offer Flexible Work-Life Balance
The modern culture today promotes a flexible work-life balance. That is why many companies today allow their employees to work remotely from home or any coworking spaces of their choice.
To stay attractive to potential employees, be sure you have in place a company policy that addresses these flexible work-life balance needs.
Have a reasonable work hour – 40-hours a week is a standard in most industries. In case the work requires overtime, ensure the employee is adequately compensated. It is also an excellent selling point for your business if you provide unlimited paid time off.
Now before you freak out, you should know that large companies have discovered that workers who were offered unlimited paid time off only took the same period they would usually have if they were under a traditional vacation allocation.
If you give your employees this flexibility, it will put your small business in a good light in the eyes of potential workers. They will not only appreciate its value but will be more inclined to send in their applications.
Be Ready to Look Beyond Your Immediate Location for Talents
Don’t limit your search for potential employees to your local community. Look beyond your immediate community to other areas to hire. If your business permits remote work, you can even tap into the global workforce.
A remote worker can be from any country, and can also work for you as long as the rules of engagement have been laid out and tasks assigned by the leader.
Do not short change yourself by restricting your hire to only people within your location.
A little research will show you that candidates with equally impressive resumes and experiences abound in other parts of the world – and the best part is, they are usually relatively inexpensive compared to hiring from your home country.
For instance, it is a lot cheaper in most instances, to hire Indian programmers to work on your projects than working with their Nigerian counterparts.
Search for top talents who are teachable, willing to do their job with little or no supervision from another country or state, and can keep to deadlines. If you can find these talented hands, then, by all means, hire them.
It is much better to have a crack team of remote workers who are highly productive and efficient but live outside your country than settle for local talent who do not have half the skills you require to boost your business.
Final thoughts on how small business can attract top talents
The fight for top talents is on. Unfortunately, small businesses cannot compete on an equal footing with large companies with big budgets.
It does not mean, however, that all hope is lost. With the right strategies, compelling messaging, and willingness to look beyond immediate community small businesses can attract and retain valuable, skilled and experienced talent.
Hopefully, these tips will guide you in the right direction on how to attract top talent to your organization.