Talent shortages, recession, and increased overheads are making the process of finding staff and retaining them extremely difficult. Employers are trying to stand out in a tight labour market using various methods.
How are employers trying to stand out?
There are easy ways to attract employees during the recruitment process. By using several initiatives you can make your business stand out and be more attractive to potential employees.
Referral Programs- While recruiters do an excellent job, your employees can act as powerful spokespersons and promote your company culture, and values. Having current employees share their experiences demonstrates trust.
Signing Bonuses- Several companies are already offering signing bonuses or amounts to successful applicants. For example, a search of Trade Me Jobs shows nearly 200 active listings offering $500 to successful applicants, including jobs for nurses, cleaners, hairdressers, and tradies.
Company Culture- People are not changing jobs necessarily for money but for stability and flexibility. They don’t want fancy offices, they want to have access to remote/flexible work, support for parents, wellbeing resources, and a company culture that is inclusive and diverse.
How can small businesses compete?
Competition is intense and many small businesses do not have the financial or reputational advantage that bigger firms and corporations have. How do you compete?
Offer values- As we mentioned earlier, employees are looking for a company that has a great culture and offers both tangible and intangible values. This could be in the form of a strong onboarding policy or training about topics that impact your staff.
Promote Teamwork- You regularly collaborate and know each other’s strengths and weakness in a small business – use this to your advantage. Instead of feeling like a cog in the wheel, employees feel significant and appreciated. Teamwork can be achieved through regular team activities, communication, and engagement.
You can reach out to Employsure to help you with policies and employment contracts to support your business.
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