How To Recruit And Retain The Best Employees With Low Budgets

A business may face a big challenge when it comes to recruiting and retaining good employees. It has become very hard to find qualified employees without spending a huge amount of money in their recruitment and providing attractive facilities to lure them into your company.

If you are looking to bring the best employees to your new business, there are a few ways you can ensure you attract and retain the job candidates you need for the growth of your business. Small companies cannot build competitive salaries and benefits, but they can compete on workplace culture while providing smaller but practical benefits.

A common mistake small businesses make when creating a position is to base the salary on their budget rather than on the market realities, thereby, making sure that their employee recruitment efforts are going to be unsuccessful. If a fresh candidate can get more salary than you are offering for a particular job from some other company in your area, why would he work for you at a lower salary?

For successful employee recruitment, your company needs to offer employees a good employee benefits program which includes at least life and medical insurance. If your small business does not have an employee benefits program, talk to an insurance company about setting one up.

Most of the employees are just as concerned about quality of life as they are about the amount of money a position offers. If you are fortunate enough to be located in an area with attractive facilities like skiing, beaches, hiking/biking trails, golf courses or other attractive features; be sure to highlight them when you are trying to attract employees.

Try to make your company more attractive to potential employees by offering things such as flexible hours and work at home options. Think of some unusual benefits that nobody else is offering like free snacks during the lunch or allowing employees to power-nap during the day. A comfortable environment in your company will definitely keep the employees engaged.

If you have a small business, you may not be able to offer the perks large corporate companies are able to offer their employees but you may be able to offer a reasonable facsimile. For instance, if you cannot offer your employees health facilities like gym, you can offer employees coupons to use local gym or spa facilities.

An attractive offering can be employee incentive program that not only rewards good employee performance but gives prospective employees something to look forward to if they come work for you. You can also offer profit sharing programs which give employees a stake in a company’s success. It can also be a powerful inducement for the employees to come work for you instead of for someone else.

It is not enough to just place an ad in the local newspaper; your chances of attracting the employees you want will be much better if you broaden your advertising. Place ads in places such as job websites, social networking websites and college/university campus boards. If you have other employees, don’t forget to get them involved in the employee recruitment program by offering handsome bonuses to those who successfully refer a new employee.

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