If you are running a startup or small business, one of the biggest problems you will face is hiring – and retaining – the best employees. It’s something of a vicious circle – you need the best to increase your profits, but can’t afford to pay them what the competition are offering. The good news is there are a few things you can do to make sure that you find the best people. And, that you ensure they stick around and become integral to your success. Let’s take a closer look at some of you options.
Prove you are a stable business
Working for a startup or small business is always something of a gamble for prospective employees. There will be a lot of doubts about the future for everyone involved. However, you can ease some of their fears by proving your ability to run a stable business. Make sure that you have a robust business plan in place, and can outline your vision to any prospective hires. If they can see your passion for the future, as well as a sound financial base, you will retain a better quality of employee.
Create a positive work environment
When you are a startup or small business, you will be under a lot of scrutiny from the best candidates. They will want to know that you take your health and safety responsibilities seriously, for example. And, they will also have one eye on your company culture. If they can see that other employees are engaging with your business, they will be more likely to sign the dotted line. According to Culturized, your team is your biggest differentiator. It is vital, then, to be a differentiator for them, too, if you want them to stick around.
Benefits and Packages
You won’t be able to match the salaries of the bigger players in your industry as a smaller business. But, other things in life are just as important. Make sure that you look into developing a robust benefits package for your staff. You could offer shares in your company, for example, which will encourage workers to put more into their work. Flexible working patterns can also be a big draw for the right people – as can other benefits like a gym membership, or regular team outings. The more inventive you are with your benefits, the more chance you have of hiring and keeping the best people.
Be proactive about personal development
The best people always want to improve themselves. So, it is essential that you can offer training and personal development if you want people to stick around longer. Nobody wants to be trapped in the same role forever, and even if they did, they would be better off in a larger company that pays better. Use your small business status as a positive thing, and allow people the opportunity to better themselves. As a final point: of course, some may move on and use their new skills elsewhere. However, most will be grateful for the opportunity, and give you back more value than you originally paid.