However, finding talented candidates – and keeping hold of them – can be a challenge, particularly if you are a smaller firm without the financial resources to dedicate to high salaries and attractive bonus packages.
In this situation, it’s important to consider other ways to capture the interest of people who can offer the skills you need. Here are five strategies that could help you compete in the labour market:
Build an attractive culture
Often, job candidates are looking for more than money when making a decision about where they want to work.
You can significantly boost your appeal to talented individuals – who may or may not be actively looking for a new career opportunity – by demonstrating your ability to provide a supportive, rewarding and positive workplace culture.
This could be based on policies such as creating a close, collaborative team environment and ensuring that everyone in the workforce has a say in where the business is heading.
Get imaginative with benefits
If your firm is not currently in a position to be raising salaries or handing out bonuses, look into non-financial rewards that could attract the attention of candidates and strengthen the loyalty of your existing staff.
There are all sorts of alternative benefits that can show employees how much they are appreciated, from small gestures such as arranging social events and taking people out to lunch at the end of a big project, to more substantial measures like introducing flexible working for long-serving staff.
Show how people can make a difference
Large organisations may have the financial clout to offer attractive pay and bonus packages, but one area where smaller businesses might have the edge is in showing individuals how they can make a real difference.
One person working for a major corporation might feel that their efforts are having little impact, but in a small firm the actions of just one member of staff can deliver big results.
If you are on the lookout for talented candidates to join your workforce, offer some specific examples of how their expertise could help take the enterprise to the next level.
Demonstrate your ambition
Being small doesn’t preclude a business from having big aspirations. Someone who wants to feel that they are contributing to the start of a venture that could become something special are much more likely to get that experience at an ambitious, growing firm.
When advertising roles within your company, be sure to emphasise your long-term goals and show your enthusiasm about how far the business could go if it acquires the talent it needs.
Cast a wide net
Sticking to tried-and-tested recruitment methods might not be enough if you are looking for well-qualified, experienced professionals with in-demand skills.
It’s quite possible that the people you need might not be actively looking for a job, so methods such as headhunting candidates via social media or identifying prospects at industry conventions could prove more productive than using staffing agencies or job boards.
By combining bespoke recruitment methods with a compelling representation of your culture, benefits and ambitions, your business will have the best possible chance of finding the people you need to expand and flourish.
Image courtesy of iStock/Bet_Noire
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