How Small Businesses Can Attract and Retain Top Talent




  • June 18, 2016

    best-employee


    A positive work environment is crucial in order to attract and keep top talent. Small but effective changes will make a significant impact on how your employees interact and perform. Whether that be a streamlined commute, incentives, or a healthier office culture, these small changes will ultimately make running your business easier.


    Set up shop near public transit.


    In America’s largest cities, 20-50% of the population relies on public transportation to get around, particularly for their commute to and from work. With this in mind, it is imperative for any business, regardless of size, to have accessible offices in order to attract top talent. The best workers have a plethora of options when it comes to deciding where to work. While there are a variety of factors that keep employees happy and loyal, access to public transit is a big one.


    Easy access to public transportation allows companies to not only expand their applicant pool, but also ensure they have first dibs on the best of the best.


    Rafael Landeiro, marketing manager for Mobile Health in New York City, attributes their large hiring pool to office location: “Central location allows us to hire employees from four states, which expands the applicant pool we can consider.” Larger applicant pools also mean more qualified potential employees. For example, a Metro accessible apartment building allows Park Van Ness management teams to be run by “the cream of the crop… and keep the property operations running smoothly.”


    Offer small incentives and perks that employees actually want.


    For less than $ 100/month a small business owner can set up her 10-12 person team with a digital streaming service like Netflix or HBO. In the grand scheme of things, this is an insignificant amount of money, but it speaks volumes towards how you run your company.


    At Go Fish Digital, employees are given access to one streaming service, one book of their choice per quarter, and one free race bib to a community run of their choosing each year. These perks add up to less than $ 1000 annually, but significantly improve employees’ feelings of goodwill towards the company and overall loyalty towards upper management.


    Another perk: Unlimited Vacation. More and more companies have been offering this up as a bonus, knowing full well that most hard-working employees will never take full advantage of it. It’s the kind of perk that looks great on paper, can help attract the best and the brightest, but ultimately has very little to no negative effect on the company in terms of hours lost.


    Share recent wins and praise with the whole team.


    While no one looks forward to endless meetings, offering up a quick 30-min slot where various team members are acknowledged for their hard work and recent success can have a positive impact on company culture. Don’t make praise disingenuous or just another item to be checked off the to-do list; employees will be able to spot insincere attempts. Instead, focus on the specifics of where individuals have excelled in the past few weeks. This type of direct praise will encourage employees to continue performing well and create a more collaborative company culture.


    Paul Shrater, cofounder of Minimus, believes strongly in a team mentality. The company hosts a monthly pizza lunch for all employees in order to foster a sense of community. Employees are updated on company news and everyone is encouraged to make contributions. This tradition has led Shrater to notice that the more an employee understands their worth, “the more they feel a part of the company.” Simple changes can result in a positive company culture that will make your employees happier and the company more successful.


    Small businesses require the dedication of all employees and a strong sense of community in order to achieve growth. &Pizza Founder and CEO, Michael Lastoria, knows firsthand what makes or breaks a company: “We’ve never seen a successful business where the employees didn’t feel appreciated, engaged, and supported,” he said. “It’s a simple, but critical, concept: allow your staff to thrive, and your company will thrive.” A positive and healthy quality of life inside and outside of the office is a must for small business owners hoping to attract and retain top talent.

    Business & Finance Articles on Business 2 Community

    (15)

    Leave a Reply

    This site uses Akismet to reduce spam. Learn how your comment data is processed.