When your business is ready to grow, you need talent to help you achieve new goals. As seen in the recent post, Get Up and Grow: The Small Business Guide to Expansion, having a long- and short-term plan for talent acquisition is a critical component of growth strategy.
So how can you attract great employees to your small business? Know what you need and make a compelling case.
Before you hire a new employee, it is important to be very clear about what skills you need to complement your own. Hiring someone who expands the collective skill set is a smart, strategic approach.
Here are some other things to consider before diving into the talent pool.
1. Know the Going Rates
When you are preparing to go looking for new employees, it is good to know how much comparable positions or skill sets are being paid in your area and in your industry. These salary and hourly rates can vary greatly based on geography and profession, so it is wise to look at the most comparably relevant data.
2. Offer Opportunity
There is something quite exciting about being part of a growing organization. It is important to make clear to new employees the opportunities for future growth and experience you can provide. It is even more important to keep your word and follow through on those promises.
Emphasize the skills employees will learn, the chance for more responsibility, and the ability to earn more money later. You should also be direct about whether those opportunities will be available at your company or somewhere else.
3. Provide Benefits
Talent today can be swayed by salary and opportunity, but employee benefits are critically important. Be sure to speak with a trusted advisor or partner about how to offer a great benefits package, including health and dental insurance, vacation and holiday time, retirement planning, and life insurance. Often business organizations or local chambers of commerce offer members access to inexpensive employee benefits plans.
Benefits need not be financial either. Do you offer flexible work hours, casual Fridays, work-from-home options, or flexibility for working parents? Such benefits may be just the thing to move a candidate toward accepting your offer.
4. Location, Location, Location
If you are going to be recruiting beyond the local area, you want to be sure and highlight advantages to the area. Are you in a location with great recreational offerings, an inexpensive cost of living, or easy commutes? Make sure your candidates know about such features early in the recruitment process.
5. Special Incentives
There are other ways beyond salary to improve the take-home pay for employees. Employee incentive programs allow employees to gain additional compensation for meeting certain performance or sales marks. Incentive programs can also provide for gift certificates, gift cards, or special excursions for top performances.
Profit-sharing is a powerful way to express the value you place in your employees. Sharing profits lets employees know how valuable you consider their contributions to your success.
Benetrends helps companies with the complexities of attracting new employees. We offer unique solutions for small business lending as well as a full range of services to support your growing workforce, including retirement plan management, and insurance plans for you and your employees.
To learn more about how Benefits can support your business expansion, schedule a consultation today.