4 Recruitment Strategies for Small Business Hiring
Many small businesses have impeccable business plans that cover areas such as online and offline marketing, fundraising and financial projections. However, recruitment strategies for small business hiring tend to get barely a glance, if even that. Start today to develop strategies for the short term as well as the long term, and you gain a competitive edge as you clarify your vision. Use the following four recruitment strategies for small business hiring to get started.
Strategy 1: Only Hire When You Have the Revenue to Justify It
Since the economic recession that began in 2008, banks and other lending institutions have developed stricter regulations for loans. With that in mind, your small business might not be able to qualify for a loan to bridge the gap between the expenses you incur when hiring new folks and a few months later, when these folks begin to bring in more revenue. Also, remember that banks instituted these new regulations for a reason: many businesses could not pay back their loans. So, your first hiring strategy is rather mundane but necessary. Hire only when you have the cash flow to pay for it.
In the meanwhile, you can attract qualified candidates such as experienced stay-at-home parents by highlighting flex-time opportunities, and end up hiring someone part time for less than half the cost you had predicted for a full-time employee. You could also discuss deferred compensation or connect with colleges to discuss unpaid internships. However, be very clear about what you are doing, and give unpaid interns quality work that truly fits their educational objectives.
Strategy 2: Anticipate and Plan for Growing Pains
New employees are welcomed in many cases, but even in the best situations, growing pains occur. When you analyze recruitment strategies for small business hiring, one strategy that pops up frequently is the need to plan for growing pains. If you don’t, you risk folks leaving, and the costs to replace them can be staggering. You don’t want your hiring process to end up bleeding you dry. To that end, try to strike a balance between hiring for quality and hiring expeditiously. It is tempting to bring warm bodies on board quickly, but this move is often unwise. Incorporate these approaches.
-Ask interview questions that test for compatibility. Focus on situation-based questions and on candidates’ prior behavior.
-Develop onboarding processes that include training programs and pairing new hires with mentors.
-Prepare new hires’ workstations and necessary tools/equipment in advance of the start date.
-Email or otherwise communicate with employees about new hires before the start date.
It really is important to be patient as new hires come onboard. Sure, it would be nice if they magically knew what to do and hit the ground running, but plan to give new hires as much as half a year to a year to fully learn the job.
Strategy 3: Be Flexible and Sell Your Business
To hire top talent, you must be flexible, particularly if you cannot offer much in the way of compensation packages. For example, if you need a computer programmer, you could entice candidates with the promise of telecommuting options. Alternatively, you may want to try out temp workers from staffing agencies, or contract workers. Not only might they lead to permanent hires, they provide a great opportunity for your business to quickly bring qualified folks on board and save on hiring costs. If someone does not work out, not as much harm is done. You simply let the person go after an allotted period (say, three months) is up.
You must ïsellï your business to candidates. What do you offer that larger companies cannot Examples include more responsibility up front, more face time with clients and the opportunity to pursue passions.
Strategy 4: Think Outside the Box
While events such as job fairs or career fairs have their place, you save time and money on recruitment strategies for small business hiring by redirecting your attention. For example, say you need to hire a writer. You could attend a Meetup event for writers, and chances are that at least several qualified writers will show up. Other ways of finding compatible applicants include posting job descriptions via podcast instead of in traditional text and searching job boards for qualified folks instead of sending the word out for them to come to you. Also, look to your current employees for referrals. These folks know what it is like to work for your company and serve as good ambassadors. Yet another option outside the box includes putting the fact that you are hiring at the bottom of emails (in your signature line, for example).
As you explore more recruitment strategies for small business hiring and make all-star hires, turn to the resources at Mighty Recruiter for assistance.