While larger companies might not have this problem, many small to mid-sized companies know how hard it is to hire top talent when you are working with a tighter budget. Below are some ways you can appeal to top talent without having to go past your desired salary range.
Some Perks Will Cost You Nothing Or Close To Nothing
Perks are great ways to show you appreciate your employees and will help sweeten the deal for top talent. Huffington Post has interesting ideas on how to entice new talent with perks that are free or cost-effective.
Some employees enjoy working remotely so they can travel to dream destinations or be able to spend more time with their family and not have to suffer from paycheck cuts. The option to work a flexible schedule during the month would also be a nice way to reward your staff and will cost you nothing.
Free lunches or employee discounts at a partner restaurant or at your company’s cafeteria would also be welcome. You may also consider discounted or free gym memberships as an extra dose of endorphins.
Another strategy you might want to play around with is the option to provide top performers with continued education and the potential for a promotion. College loans are painful on the pocket so those who are looking to get their MS or Ph.D. will be motivated to work harder. If your budget is tight, free e-books or subscriptions to paid learning resources might be an option to consider.
Create a Magnetic Culture with The Right Engagement Drivers
Kevin Sheridan, author of Building a Magnetic Culture, talks about engagement as an integral part of building your brand/culture. Employee engagement is one of the best ways to entice top talent to consider working for your company. Below are 10 of the top engagement drivers for companies looking to improve their culture.
Recognition remains one of the best engagement drivers. Congratulating a top performer on group chat can do wonders for morale.
- Career Development
Help your employees figure out how they can advance within the ranks. The opportunity to grow within the company will make them feel secure, appreciated and more likely to recommend your company to their personal circle.
- Direct/Supervisor/Manager Leadership Abilities
Managing people can be tricky. However, if done right, this could be one of the best engagement drivers. Employees are happier when they work under someone who can help them achieve success.
- Strategy and Mission
We all want to know that our daily tasks have an impact on the greater picture. Since our goals ultimately shape our actions, despite them being incorrect at times, we should allow employees to see how their tasks lead to the success of the company as a whole.
- Job Content
Not all daily tasks are enjoyable; even if you were to consider the tasks you would have to do if you had your dream job. There are other things you can do to improve on this factor as well. Allow an employee to grow based on what he or she thrives in.
- Senior Management’s Relationship with Employees
A common perception of senior management is that they do not care about what goes on in the lower levels as long as they get the results they are looking for. This myth should be disproven if you want your company to flourish. Become more visible to your employees to improve engagement.
- Open and Effective Communication
If left unchecked, a communication gap could mean the failure of your organization. This is why it is important to work hard to maintain effective strategies. A team huddle at the start of each day or towards the end of the day would be a good place to start. Actual conversation over memos via email helps build engagement.
- Coworker Satisfaction/Cooperation
This is said to be the unsung hero of retention. Employees start off as strangers and over time begin to think of their co-workers as extended family. The goal is to build a team that will mesh well together so they enjoy working with each other.
- Availability of Resources to Perform the Job Effectively
If you expect perfection or hope to come close to it, give your employees the tools that will allow them to be successful. Productivity is necessary to get the best results. Imagine you have 10 people and each of them has to use a computer to complete their tasks and you only have one in the office. They would inevitably fail.
- Organizational Culture and Core/Shared Values
We live in an age where diversity and inclusion are vital, not just for social media and good press but also for internal growth and an increase in innovative solutions. What binds people together is not sharing the same lifestyle or background but shared values, morals and work ethic.
Once you have built a culture that will attract the talent you are in need of, showcase it to the world. You can use social media platforms, your company website and even host events to let potential candidates experience your amazing work culture. During interviews, have your HR team inform candidates about your work culture and even go so far as to have them spend time with your superstar employees so that they get a feel of your company culture and dynamic. Job advertisements should showcase your perks and your company’s culture. You will be surprised how many potential hires you will attract based on perks and culture.
Consider Culture Assessment
The key to attracting top talent on a budget is by looking for ways to improve your employee experience. Happy employees who enjoy being part of a dynamic company with an excellent culture and amazing perks are more likely to brag to their friends about your company. When you have qualified and interested talent, you can move forward with the interview process with the help of a culture assessment tool.
Culture assessment will help you figure out what your employees and potential hires are looking for with regard to the work environment. Some companies tend to shy away from culture-based questions, as they are worried that they might be subjective during the interview process. We have found a solution that will allow hiring managers and decision makers to tackle this important metric in an objective manner.
We have partnered with a company called ThriveMap that offers this type of assessment. Their tool allows clients to compare their top talent or even the whole team against potential hires objectively. If you would like to know more about how this tool can help you improve your hiring process, let us know!
Continental Search recruits for feed manufacturers, their suppliers and integrated food companies across the US and Canada. Our team of 6 recruiters and 3 researchers have over 80 years of combined experience recruiting. For more recruiting tips and information on us, visit www.continentalsearch.com or call (888) 276-6789.