Getting the right people on board and keeping them around is pretty tough for any business, big or small. But for small businesses, it can seem like a real mountain to climb trying to snatch up good employees before the big fish get to them. A study by MetLife has shown that small business owners are really sweating over how to attract and keep talent. This worry is against a backdrop where many small businesses find it hard to match the salary and benefits expectations of their employees. About half of these businesses struggle to offer pay and perks that can compete with bigger companies, making the hunt for talented folks even harder.
So, what’s the game plan for small businesses looking to keep up? Well, they’re getting creative and trying out new strategies to keep their current team happy and to attract new blood. Here are a few ideas that might just do the trick:
– **Flex Those Hours:** People love having the ability to juggle their work with personal life seamlessly. The latest stats show a huge chunk of small businesses are planning to make work hours more flexible. This is especially good news for employees who are paid by the hour. Given that only a small percentage of small businesses can afford to offer paid time off, being flexible is another way to give employees a break.
– **Look in New Places:** There are about 9.5 million job openings but only 6.5 million folks looking for jobs. To bridge this gap, 71% of small businesses are thinking about hiring people from groups that are often overlooked, like veterans or people who’ve had run-ins with the law. It’s a win-win: businesses get the staff they need, and these groups get a fair shot at employment.
– **Boost Your Benefits:** Half of the small businesses out there are stepping up their game by offering better pay, sick leave, or being upfront about salary ranges in job ads. Benefits are a big deal – things like dental and vision care can really make a company stand out. Employees want to feel taken care of, and a solid benefits package is a great way to show them they are.
– **Go Remote or Hybrid:** Almost 50% of small businesses are getting on board with remote or hybrid work. This not only makes current employees happier but also widens the pool of potential hires since you’re no longer limited by geography.
– **Seasonal Help:** With the ebb and flow of business, sometimes you only need extra hands for a short period. Interestingly, a large number of small businesses are planning to entice seasonal workers with bonuses or special perks. And for other scenarios, like project-based work, contractors or freelancers could be the answer.
The bottom line is, lots of small business employees are considering moving on in the next year. That means small businesses need to pull out all the stops, not just to keep the talent they’ve got but to attract newcomers too. It’s all about making your business a place where people want to work, now and in the future.
So, think about it, what moves is your business making to ensure you’re a top choice for great talent? Remember, it’s all about creating a positive work environment where people feel valued, engaged, and happy.
