The economy is booming, which is excellent news! As the economy has grown, the businesses have evolved, including the small ones. As companies grow, however, they often need to hire new people for positions that did not previously exist.
For a small business, hiring professional talent in today's market can be harder. As a consequence, many small businesses have been hiring people simply because they're convenient and cost-effective, instead who are fit and qualified for the position.
Here are the top small business challenges on engaging/hiring and how to deal with them.
CHALLENGE #1 - Finding enough qualified candidates
The best way to raise the pool of candidates is by using a mix of hiring resources (online, networking, referrals, and advertising).
CHALLENGE #2 - Competing with more prominent companies
Big name brands typically offer better benefits packages, higher salaries, and other advantages.
Emphasize the benefits of working for a small company, like less bureaucracy, which allows the employee to work quicker and more efficiently. It’s also likely that the company offers more growth potential, which is precisely what many candidates desire.
CHALLENGE #3 - Evaluating whether candidates will succeed in the role
Build a detailed, compelling job post and set up a solid interviewing process to assess fit for the role.
CHALLENGE #4 - Having enough time to spend on the hiring process
Optimize the hiring process by using a partnership.
In a small business, the impact of even one poor hire is more significant than with a large enterprise. If just one person on a team of 10 people is not up to the task, that’s a full 10% of the workforce under-performing.
Small businesses may benefit from using a recruiting firm in their hiring efforts because recruiters have the resource and the knowledge to find candidates. Also, they help to build an accurate job description and evaluate candidates. After all, it is about save time and money and keep focused on the core business functions.
We know that the small companies frequently don’t have the financial means to partner with a staffing agency. That’s why we decided to have the lowest fee in the market for small business. We believe that smarter hiring means better business. If you want to learn more about us and our hiring methodology, click here. It will be a pleasure to help your business growth!
Adapted from LinkedIn Talent solutions report 2019