We all want the best for our businesses, which includes the best employees. But what happens when you just can’t afford to pay big bucks for the best candidates? How can you recruit without the enticement of a fancy corner office or large salary?
Here are three things to consider:
Celebrate Your Culture
It should come as no surprise that employee engagement really pays off (literally). In fact, a Gallup survey reported that 54% of workers who are disengaged would leave their company for a 20% raise or less, while only 37% of engaged employees would make that same decision. Your company may not have a multitude of resources, but there’s one currency that’s undeniably valuable – your people. When interviewing for a new position, don’t forget to highlight your culture. There are many ways to educate interviewees about your culture, but it all starts with asking the right questions and highlighting what makes you unique. You’ll end up finding someone who not only is excited about the role, but is a fabulous culture fit to boot.
Promote Your Perks
Salary is only one piece of the puzzle. Does your company offer an above average vacation plan? What about work from home policies? No business is created equal so be sure and highlight the added perks that a new hire would receive. Maybe you’re even saving them money with exclusive discounts. Whatever the case may be, studies show that happy employees are better employees. Win-win.
Invite Their Input
In a recent survey, 80% of millennials said they want regular feedback from their managers, and 75% yearn for mentors. Highlight this in your interviews and you’re guaranteed to stand out among the crowd. 85% of everything we’ve learned comes from listening. Which means, if we want to know how to effectively lead employees well, we need to provide a platform for them to speak. Do you offer performance reviews every quarter? What about a weekly touch base? However you provide opportunities to listen and learn, showcase this in your recruitment efforts.
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