4 Ways Small Companies Can Compete for Top Talent

As an employer for a small business, it is important to understand which approach for hiring top talent works best in order to effectively compete with large companies. According to an article by SHRM, here are 4 ways small companies can compete for top talent:

  1. Hiring Strategy. When hiring top talent, competing has more to do with strategy than it does the process. As an employer for a small company, the people you hire can have a bigger impact on the company’s success compared to big businesses. It is important to take a different approach than larger companies in order to find the best hire. Rather than finding numerous active candidates and weeding out weaker ones, try to attract fewer but better candidates. Focus on quality of hire rather than reducing costs and the company will find success.
  2. Define the job, not the worker. Traditional job descriptions include “must-have” requirements that are clearly defined. Instead of this describing the traditional skills and experience needed, try identifying the top performance objective required to be successful. Skills do not determine success; it is what people do with those skills that matter far more.
  3. Content vs. Reach. As a small business it is critical to differentiae your company, people, culture and jobs offered. Small business cannot compete with big companies in terms of people they reach but can compete with them in terms of content. Ensure that there is an attention-getting subject line, emphasize what the person will learn, do, and become.
  4. Recruiting and Negotiating the Offer. It is not exceptionally difficult for small companies to recruit top talent; the key is to approach it differently than big companies. How the company defines it’s jobs, finds it’s candidates, conducts interviews and assessment, and how they make offers all contribute to the success of recruiting top talent. These differences will offer everyone hired a true career opportunity that offers more stretch, growth, and job satisfaction than anyone else.

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