Small Business Looking to Grow and Retain Your Talent? Here’s How!

The eternal struggle for small businesses centers around hiring new employees and retaining them in the long run. New talent is dynamic, and employees keep leaving for multiple reasons – changing careers, better opportunities, and so on.

However, the lucrative nature of small businesses and their dynamic environment make them an immediate magnet for new talent. But unfortunately, at the current growth rate, economists predict that there will be a shortage of high-quality employees with experience.

At this crucial time, small businesses need to recruit employees competitively and retain them if possible. Here are some tips for recruiting and retaining talent so that your company can grow and succeed.

Strategies to Attract Talent

Small businesses are constantly on the lookout for the industry’s best talent. Hiring the best that the market offers will increase your profits and success rate as a new company. To attract only the top talent, your company may follow these tactics:

• Company culture: If you focus on creating an enjoyable environment open to collaboration and learning, people will automatically want to be a part of it. Building a “people” first organization will make employees feel the value of their contributions.
• Flexibility: Hard-to-fill positions will be up for grabs if you offer employees a flexible schedule, along with potentially extra vacation time or stock options. This way, you can focus on what employees want without compromising on the work.
• Competitive benefits and perks: Most employees consider additional perks a necessity, not a want. Providing benefits such as medical insurance or life insurance will keep new talent coming in, and more importantly, will make them want to stay.
• Lifestyle: As you hire new talent, make sure to highlight a great work-life balance. Not only does this make a good work environment, but employees will want to come in for work even if they have time off, automatically leading to increased productivity.
• Growth and promotion: Employees are looking for ways to move upwards and advance their careers. Ensure that you bring out the different means that will serve as a stepping stone to further success. Highlight all the future possibilities.
• Choosing the right channels: It is essential to find the right candidates by scouring the websites and media they often use. You could set up software that will find your targets by filtering through their favorite websites. Some organizations also offer this service. Focus on creating a strong ad in the right place.
• Profit-sharing program: Sharing equity/stock can motivate senior team members to stick around longer and watch their shares grow. If this culture of intrapreneurship is harnessed and cultivated, recruitment and staff retention will become a breeze.

Tools to Hire Top Talent

Now that you are aware of some of the best means to hire the industry’s best, you can maximize the benefits of these techniques by using the right tools. Availing of the advantages offered by these tools will guarantee a smooth and efficient hiring process.

Bayt.com

Bayt’s small business solutions are one of the best means to help small businesses grow their talent pool by scouting and hiring the best out there. You can select the package that best suits your company’s needs and reap the maximum benefits.

Bayt’s services will help you search for CVs, get unlimited CV views and post jobs in a cost-effective manner.

You could also use Bayt’s Employer Branding to showcase your work culture and environment and emphasize work-life balance and lifestyle. All of these are essential in attracting the attention of potential employees and will let them know that the job offers some undeniable benefits.

Moreover, Bayt’s Job Posting and CV Search allows companies to find candidates from all the right places. As the biggest job-seeking community in the Middle East and North Africa with over 10 million monthly visitors to the website, Bayt.com is one of the best options to scout for the best talent.

AfterHire

Onboarding tools such as AfterHire offers employees a seamless experience after they join the company. Having a smooth entry into the work culture creates a positive impact on the employee. It increases the chances of retainment in the long run.

Virtual onboarding may seem like a stressful task since the entire process of familiarizing new employees with the company will have to move to an online forum. Using a platform such as AfterHire will guarantee some surprising advantages for your company and its new personnel.

Zoho

Lastly, HR management tools such as Zoho allow employees maximum flexibility without compromising work quality and productivity. With various facilities such as presentations, databases, spreadsheets, and project management, Zoho ensures smooth communication between your company and the employees.

Bonuses to Retain Top Employees

As mentioned earlier, part of the struggle small businesses face goes beyond recruitment. After hiring the industry’s top talent, many small businesses find it hard to retain these employees in the long run.

Losing employees can affect the company’s levels of productivity. Not only do they lose valuable assets, but finding replacements is a difficult task that requires resources such as time and money, both of which small businesses struggle to come by.

Retaining top employees should be a company’s priority if they want to expand and grow. Although there are some tips for retaining employees similar to hiring them, such as offering flexibility, promotions, and accepting work culture, companies can also use more tips to keep their employees working with them.

The 80/20 Rule

Inform employees that you expect them to devote approximately 80% of their time to the role that they have been assigned. The remaining 20% can be used to initiate or participate in passion projects that they believe will aid its growth and success.

Many young employees are passionate about creativity. They don’t want to be told to do their job and let the higher-ups handle the rest. The 80/20 rule allows them to develop their leadership skills through an avenue to focus on their interests.

Training Programs

Offer your employees short programs and workshops that they can take up voluntarily. Making these programs voluntary is extremely important because you don’t want your employees to feel forced to take up a workshop to learn something new.

Train them so that they will enjoy courses and fields relevant to the job and require more focus. If there is new software, introduce it and bring in an expert to teach your employees. Most importantly, ask your employees what they are interested in and bring in these programs accordingly.

Regular Feedback Sessions

Conducting an annual review is often a tedious task to undertake. It involves a lot of reviews and meetings that take place at the last time, and your employees will feel overburdened with much information.

Instead, having short and regular feedback sessions is a far more effective means to celebrate your employees’ achievements and help them learn from their mistakes. Providing personalized feedback also makes the employees feel valued in the company. They are much more likely to learn and do better the next time.

Instead of making them feel overburdened and stressed with many complaints, short feedback sessions will provide them with bite-sized information that is easy to understand and work on.

Summing Up

These are just a few tips to keep in mind as you go about searching and hiring the industry’s top talent for your company. Using the tools offered by leading websites such as Bayt.com, you are much more likely to hire the best candidates and retain them in the company.

Make sure to check out Bayt’s services to learn more about smooth hiring and longer employee retention!