HIRING AND RETAINING THE RIGHT TALENT FOR YOUR SMALL BUSINESS

Your choice of employees can determine whether your business would be successful or if it would crash. As a result, many founders and business owners are often faced with the challenge of finding the right talent for their business. Beyond that, they are also faced with the challenge of retaining these talents.

As a business owner who wants to thrive in their industry, you need to be equipped with the right knowledge and skills to get the best employees for your business. Speaking of knowledge I strongly recommend the book No Rules: Netflix and the Culture of Reinvention by Reed Hastings and Erin Meyer for founders looking to glean more insight on this subject matter.

There are different factors that come to play like brand recognition, experience, and availability of funds when most companies hire talents. Unfortunately, if you are a small business owner, you may not have enough experience or be able to afford the top talents that you want but hope is not lost.

In my 6 years working with small business owners across several sectors as well as overseeing a group of cerebral talent in my private practice, here are some of the tips that have proven to be effective and would most likely work for your business:

Consider Internal Talent First

When considering filling a major role in your business, you may be tempted to immediately look outward for already-made talents. As a small business, it is always advisable to look inwards first. Is there someone on your team who has the potential to become who you need in that role? Are there people who have shown loyalty to your business and are willing to grow with you? You should consider these people first. If the role requirements would need extra training that you can afford, you should train in-house members for it.

Not only would this build loyalty with your employees, but it would also serve as a way to show them that you value their growth and are willing to invest in them. Employees are more likely to stay with your business if they feel appreciated and recognize the room for growth.

Consider Committed People

This strategy is one that I learnt personally from my revered mentor, Coach Sam Obafemi and his organization SOBCA. His hiring philosophy is guided by this one question- Are they committed to growth on the job? For business owners looking to interview potential candidates, ensure to look beyond their current resumes and check for their commitment to career growth. A person committed to growing their career would want to deliver their best work, even if it is in a small business. Recognize their passion, willingness to learn, and loyalty to past engagements or jobs.

Test For Compatibility

When hiring an employee, you should also test for their compatibility with your company. Do you share similar values? Do they have the capacity for that role? If they don’t, do they show potential? Do they have the right attitude to work with other employees? Would they be flexible enough to accommodate your company’s growth? These are vital points that can be picked during the recruitment process.

In conclusion, when you finally get the employee of your dreams, make sure you continually incentivize them to stay in your business. Beyond paying them a salary that matches their job role, you can further reward them by creating growth opportunities, giving them bonuses, insurance, and adequate paid leave. Please also ensure your work space is not toxic to the health of your employees.

Kizito Chris-Chidi is the Business Community Manager of The Business Study Group. BSG is a business process solutions provider for small businesses. Its highly demanded signature 90-day business strategy course program has been completed by over 200 business owners with amazing results. For more information about our work, visit www.businessstudygroup.com or send a mail to [email protected].