Recruiting can become highly competitive in markets where job openings outnumber qualified job applicants. Small businesses can face distinct challenges attempting to lure job applicants away from larger competitors with more established reputations, but there are a number of competitive recruitment strategies that can give small companies an advantage. Reviewing a few examples of competitive strategies in recruitment can inspire you to develop your own winning methods.
Initial salaries and wages for new employees can be a major factor in swaying an applicant's decision between several competing job offers. Unfortunately, this is one area where small businesses may struggle against their established competitors. This does not have to be the case, however, as a small company's size can allow it to boost salaries for individual employees that perform a wider range of duties than employees with similar job titles in larger companies. Comprehensive benefits are another basic, yet significant, factor in competitive recruiting. Offering health insurance and company-sponsored investment accounts can meet employees' needs for personal and family security and is a major draw for older and more experienced job applicants.
Advertisement Article continues below this adProviding clear opportunities for career advancement is a competitive recruiting strategy that small businesses can take advantage of. When weighing a choice between two or more job offers, applicants can be more attracted to the prospect of getting on board with a growing company likely to open up new management positions in the near future. Recruiters can use stories of their own rapid advancement within a small business to add credibility to their claims and pique applicants' curiosity. Larger companies can leverage this appeal by laying out clearly defined advancement paths within their organizations, showing potential employees how length of service or meeting performance goals can advance their careers quickly.
Twenty-first century employees do not expect lifetime employment with a generous company-sponsored retirement package when entering into an employment contract. More than ever, potential employees look into potential employers' growth, reputation and financial sustainability to avoid working with a company likely to perform lay-offs or other cutbacks in the future. Boasting about your company's solid growth prospects and significant competitive advantages can convince job seekers that you offer job security and are not likely to initiate wage freezes or take other emergency survival measures.
Advertisement Article continues below this adTargeting employees who are still gaining educational experience can provide distinct strategic advantages to small businesses. Small businesses that target current college students for entry level positions, for example, or that recruit people working toward specific certifications for intern positions, can get valuable employees in the door before other employers are even interested in them, creating a loyal and experienced workforce with positive stories to tell about employers who gave them a chance early in their careers. Small businesses can hire entry-level college students or other rising stars at lower-than-average pay, at first, promoting them and giving them pay raises as they gain experience.