Business success often rests on hiring the best people. For small companies, this can be a challenge, especially in a competitive market where everyone is scrambling to hire top talent. There are ways for small businesses to attract and keep these sought-after employees, and these tips are the keys to achieving that goal:
Deliver Fast and Efficient Recruitment and Hiring
Today’s job seekers want to work for responsive companies, and one of the ways a company demonstrates this is a streamlined recruitment process. It starts with a clear and detailed job description so that there are no surprises down the line. Next, potential hires want an online resume submission system and a quick response. Finally, they want an interview and hire decision-making experience that is personalized, effective and decisive. Throughout this process, they want to get a sense of the company and its culture so they can confirm that it would be a good fit for them.
Offer Great Healthcare Benefits
While salary is often a deciding factor for new hires, the type and extent of healthcare benefits are also critical in making this decision. What they want is medical, dental and vision insurance for themselves and their dependents, and life insurance for themselves. They may also look for benefits that meet the specific needs of their lifestyle and family. This may include pet care insurance, discounted legal services, and more. Having the ability to provide the core services and the flexibility to offer additional coverages to meet specific employee needs is necessary to attract great employees.
Focus on Professional Development
While employees want to know that there are opportunities for growth within the company, millennials especially need to have that path laid out for them before accepting a position. They want to know what is possible and what systems are in place to help them move to the next level. This can include free or supplemented continuing education courses, mentoring, and leadership skills training or other specific training. Small businesses can compete by creating clear growth pathways as well as delivering specific, identified resources that employees can access to take their career to the next level.
Offer Retirement Savings Plans
Retirement savings plans serve two functions. First, it attracts top talent and second, it encourages them to stay with the company rather than hop from employer to employer. This retirement plan can take many forms, though the most popular is a 401(k). Offering matching contributions up to a set amount appeals to job seekers and demonstrates the company’s commitment to its employees.
Highlight the Benefits of Working for a Small Company
Don’t apologize for being a small business. Instead, highlight the benefits of this environment. Small companies are often more flexible and offering a wider range of experiences than large businesses with standardized practices and procedures. Use this difference to appeal to job seekers who know that they want more than to be a small cog in a big machine. Be clear that you want people who can grow with the business and are willing to take on a variety of challenges. There are people who will thrive in this work setting and these are the ones you want to attract.
You can follow these tips to attract top talent and we can help. Applied PEO offers the recruitment services job seekers want while assuring that the final hires are the best fit for your company. Since we partner with hundreds of businesses, we have the buying power that allows you to offer the healthcare benefits and retirement plans you need at an affordable price that may actually save you money over your current expenses. We also have the expertise to help you develop the professional paths that are unique to your business as well as the resources, including training videos and more, to support these paths. We know small businesses and deliver the services needed to champion their success. Contact us to learn how we can help you hire the best and brightest