When your home business has tight finances, covering the cost of recruitment or offering a high salary would stretch it beyond sensible limits, so it’s necessary to get a little creative. Small can be beautiful too. You just have to consider things from the right perspective to see the potential.
Here are a few tips on how to hire staff when working with a lower budget.
Hiring Right the First Time
It may seem counterintuitive but recruiting the right person for the position matters more when working on a small recruitment budget. The cost of a bad hiring decision includes recruitment fees, salary, equipment, disruption to business while they’re getting up to speed, their mistakes, and then the cost of doing it all over again.
When you hire well on the first time through and ensure the new employee feels welcomed into the fold, you avoid costs spiraling out of control. The first step for employers looking to hire right is to use the Staff Heroes temp staff app, which helps define the vacancy to find the right person sooner.
Flexibility is a Key Selling Point
When working with a smaller budget and being a small company, you have a few things that can enhance your offer. While you may not be able to match what a larger company provides in salary, work/life balance matters to employees far more now – especially millennials.
Flexi-time hours or days at home as a remote worker offers greater flexibility for people who find that attractive. Arranging a company discount at a childcare service helps new parents manage work and bring up a young child too. Also, being able to have more time off in exchange for a slightly lower salary appeals to people who love taking longer trips and don’t wish to feel tied down to an office job.
Look for Return-to-Work Mums
There are many women who have become mothers and after some time away from the workplace are looking to return to work. They don’t always decide to re-apply to their previous employer because a change of scene is often what’s called for. This is a huge talent pool of experienced women who are looking for a flexible employer that understands when they need to leave because the school telephoned or the creche has a problem. In return, these employees tend to be more loyal to their employer because finding understanding ones isn’t always easy.
Push the Cosy Atmosphere of a Small Company
For people who have always worked in large, faceless corporations, the idea of joining a small business has some appeal. It’s certainly novel for one thing, but it also offers much more of a cozy, family type atmosphere. In smaller companies, you’re not just a number. Everyone knows everybody. All employees have a key role to play towards the success of the company. You get the feeling that what you do matters more because it affects the bottom-line in a way that you just cannot visualize with a multi-billion-pound business. It’s quite different than working for a major corporation – promote the positives!
On the bureaucratic side of things, smaller businesses tend to move faster. They’re far less bogged down with procedures that larger companies require to navigate. Therefore, working at an SME is freeing compared to feeling stifled and swallowed whole by a larger company.
You shouldn’t see a smaller budget as an impediment to finding and hiring great people to fill positions. There are many different ways to play it to get the most out of what resources the company has. Not everything comes down to money with only the company offering the highest salary for getting the best people. Workers think about the big picture now too.