How do I attract top talent to my small firm?
Readers, how have you attracted talent to your small business? Have you had any horror stories? Post a comment here to help other entrepreneurs and be sure to check out FSB’s take on the subject here.
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DiggI think it depends on what you are willing to give up. Speaking as someone who as worked for both small and large corporations, I think you have to present the opportunity to be a part of something great. You don’t need to “sell” it per say, just let the talent know it exists. That being said, you still have to be able to tie that in with a reward, such as; ownership, profit sharing, etc. As we all know in business; as the risk goes up, so should the rewards for success.
I went to Mr. Robinson’s website (www.how2hiretherightpeople.com) and found it a wealth of great information on recruiting and hiring for small business owners. This has been our number one issue for years. Thank you for the source.
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Most people would rather feel important at a job that pays less than feel unimportant at a job that pays more.
If you give people stability, a little flexibility, and a sense of importance, you can pay people $5,000-$20,000 less than the competition. This is especially true if a new hire has been out of the job market for a while.
People are risk-averse and will settle for less as long as you package the job well. Many people have been downsized and layed off. This has resulted in a scorned and scared workforce that will take less money in order to have a job. People are sick of working hard and not being recognized. As long as a company makes their workers feel special, these workers are more likely to stay with the company, even if there is no room for growth or wealth. People are frightened and making them feel safe and important can help a smaller company get top talent for wholesale wages.