How to Attract Talent to a Small Company
Big businesses woo job candidates by offering a bevy of benefits, brand-name recognition and maybe even a Starbucks in the lobby. How can small businesses compete for top talent?
The first step is realizing the advantages small businesses have over big businesses. For starters:
- Small businesses are typically less bureaucratic and have closer relationships between leadership and employees.
- In many cases, employees typically have more breadth in their jobs than they usually do in big companies, where people tend to specialize more.
- Many entrepreneurs treat their work force as if ita��s an extension of their family.
- Small companies often offer more flexibility, more job diversity and the possibility of high growth.
- They frequently tailor a job to deal with employeesa�� individual needs. For example, a small business might be more willing than a big company to allow an employee who wants to work from home on Fridays to telecommute that one day a week.
It can be a challenge to find good candidates for a new business, usually an inherently risky venture. As a business owner, you must find a way to persuade a successful individual with a secure job to come work for you. Hiring managers at small companies without big human-resources departments often struggle with getting their message across to the talent they want to attract. Ita��s important to convey the success of their enterprise and figure out what aspects of their company to emphasize to appeal to candidates.
Entrepreneurs have to make a compelling business case for why a candidate should come work there. If youa��re hiring an executive, that person is usually going to want equity in exchange for the risk. For a middle manager, you have to convey that your company has staying power. For entry-level workers, you should show that there are opportunities for growth. Big companies, even when downsizing, usually have more job openings. Regardless of the type of employee, youa��ll need to show how their skills can contribute to the success of the business.
Networking can solve a lot of your recruiting problems. If one of your contacts refers a candidate to you, chances are good that theya��ve done some of selling work already. For the same reason, offer rewards for employee referrals. Candidates who come in through these referrals usually have a more accurate picture of the company than those who come in through ads, and in most cases employees recommend only people they think will be a good match.
CREDIT: WALL STREET JOURNAL