Hiring employees for your small business may mean the difference between success and failure. With fewer employees, mistakes become more obvious and may affect the company in bigger ways. Therefore, you need to carefully evaluate whom you hire, so you make the best choices.
Maintain flexibility in your hiring. Providing flexibility will attract candidates who may have otherwise overlooked your business. For instance, many workers seek flexible hours or remote work and are willing to get paid less for those perks. Decide which departments/employees will be eligible for flexible work arrangements and which metrics you will use to track productivity. Create a trial run with one department or small group of employees from different departments to work out the kinks and gather data. After a month, make necessary adjustments before starting the program for other employees. Train your managers on how the flex policy works, how to use the technology, and when to schedule one-on-one phone or in-person meetings.
Involve Your Network
Turn to your network when hiring employees. For instance, post job openings on LinkedIn, Facebook, Twitter, and other social media. Also, let your LinkedIn contacts know what skills and experience you are looking for, so they can refer others. Additionally, reach out to qualified individuals on LinkedIn, get to know them, and invite them for coffee to learn more about what you are looking for. Additionally, use email, phone, and word of mouth to share what you are looking for with anyone who may be able to help you.
Think Carefully About Hiring Friends
Thoroughly consider whether you want to hire your friends. If they are well qualified, you may want them to join your team. Be sure you have a similar work style and clearly outline what you expect your friend to contribute, so that boundaries are clear. If your friends are not well qualified, you may run into conflicts of interest that damage or end your friendship. Your friends may not see you as their boss and refuse to listen to you. They may resent you for being in charge. You may become frustrated with your friends for not performing as needed. If you have to lower their pay or let them go, there most likely will be hard feelings, and your friendship may leave with them.
Offer Stock or Profit Sharing
Provide opportunities for your employees to gain stock or share profits. You will attract higher-quality hires with a stake in your company’s success. They will feel a sense of ownership and should perform at higher levels. With the right vesting schedule on retirement plans or stock options, your employees most likely will remain loyal to your business longer. Plus, you can pay them less knowing they may make additional income as your company prospers. You will free up cash for other necessary expenses, while incentivizing employees to move the business forward.
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