If you’re the hiring manager of a small company, it’s crucial to hire talent that can help propel your business to new heights. Believe it or not, the wrong hire can really cost you. In fact, one survey found that 27% of US employers reported losing more than $50,000 because of a bad hire. Plus, there’s more than the financial cost to consider when it comes to hiring the wrong person. A poor hiring choice can lead to lowered morale and frustration among your team. On the flip side, a great hire can really help your company and increase morale. On top of that, a great employee can help streamline your business and breathe new ideas into your company (and increase your profits).
So, how do you find great talent in the first place and encourage them to apply for open roles at your company? Well, we’ve got your back. Below, we’ve written some tip for attracting employees to your small company.
Tip #1: Offer Great Benefits
Look, employees expect a lot more than remote work and basic medical benefits these days. Small companies have an advantage over big companies in this arena, even if they have a small overall budget. Smaller-sized companies can afford to be more nimble with their benefits and more quickly respond to employee feedback.
For example, can you offer flexible schedules in addition to remote work situations? Can you offer a four-day work week? These kinds of more rare benefits can attract talent and encourage them to apply to open roles at your company.
Tip #2: Write a Great Job Description
No job candidate wants to read a never-ending list of job responsibilities and duties that drone on and one. Instead, keep your job description short and concise – without leaving out essential information about the role. Make sure to place the open role in the context of the company as a whole – that means you should discuss reporting relationships and how the position supports the purpose of the business. These kinds of details can be helpful for candidates trying to assess whether or not their background matches with the job description.
And of course, you should also be upfront with salary ranges, so you don’t waste anyone’s time who feels they need a job that pays more.
Tip #3: Use Technology to Streamline the Process
Applicant Tracking Systems are essential for your candidate vetting process. ATS helps to remove the bulk of the manual labor and can do things like send automated emails to successful or unsuccessful candidates, schedule interviews, and send out application updates. This means you can spend less time hand-filtering through resumes and more time growing your business and making money.
Tip #4: Screen Your Applicants
When you start getting candidates to the final round of consideration, it’s time to conduct a background check. Small business background checks can help you avoid a bad hire and can give you peace-of-mind that a candidate is actually who he or she says they are. Background checks verify addresses, names, date of birth, Social Security numbers, and other basic data. Plus, background checks also show any criminal records, pending charges, dismissed charges, or acquittals.
Plus, if you’re hiring for a role that deals with financial information or sensitive data, a background check shows an applicant’s credit history and credit score. If a job candidate has huge amounts of debt and a poor credit score, you can filter him or her out to avoid hiring someone who would be a serious vulnerability to your company. After all, you don’t want to hire someone fiscally irresponsible with their own finances to be in charge of your company’s finances.
Conclusion: Finding the Best Candidates and Creating a Successful Small Company
Just because your company is small at the moment doesn’t mean you can’t rocket to success. And one of the best ways to grow your company is by finding the right people who can support that growth. Use the tips outlined in this article to find employees who will increase your team’s morale as well as the company profits. And don’t forget to screen all your applicants to verify their identity and give you peace-of-mind.