Organizations of all sizes are currently facing attraction and retention challenges. While small businesses may not always have excess resources to invest in attraction and retention efforts, they often have the agility to respond with new strategies to meet workers' needs.
Consider these three attraction and retention tips for small businesses in today's worker-friendly labor market:
1. Select the right benefits. According to a Kaiser Family Foundation study, small firms are less likely to offer health insurance versus businesses with more employees. Health insurance is valued highly by workers who don't have access to coverage, which often includes workers employed by small businesses. With less headcount, small businesses can tailor their offerings to meet today's workers' demands. One way to start is by surveying employees on what benefits would interest them the most and then using that data to inform benefits decisions.
2. Expand the online recruiting reach. A robust online presence can lead to more passive recruiting leads and the attraction of qualified candidates. While small businesses may have a less developed online presence than larger competitors, they can establish or revamp their online employment branding. This may include managing one or two key online profiles, posting content regularly and sharing job opportunities. Spending even a few minutes per day on this can make a difference.
3. Focus on developing employees. Learning and development efforts can help employers address skill gaps, and they can help retain employees and attract new ones. Small businesses generally won't need to develop skills for large groups, so focusing on individualized learning is a good idea. Some ideas include providing career pathing plans, creating mentorship programs or supporting employees to attain certifications or further their education.