How to Attract and Keep Talent on a Budget

Manager greeting new hire

As a small business, it would be fair to say that you’re up against it.

It’s not just about chasing the big companies due lengthy payments or competing with lower economies of scale. It can go significantly further than this and touch all areas of your business – with your employees firmly grouped in this category.

Unfortunately, money often talks, which means that your best workers can be lured away in the blink of an eye. Or, it might not even get to that stage – and you’ll be left struggling to recruit as bigger firms swoop in and secure the best talent.

Well, this article is all about tackling this topic. Let’s now look at some of the best ways you can both attract talent in the first place and then go on to keep these people.

Flexible working

This first point certainly won’t be a newsflash following the last couple of years. The modern workforce wants more than just a good salary and the occasional promotion. They’re looking for a good work/life balance, and this is something that you can easily offer them.

Flexible working hours is one way of doing this, and it’s a policy that is becoming increasingly popular. It’s not just about giving people the chance to work from home either – it can also mean allowing them to start and finish work at different times or taking a break in the middle of the day.

Of course, it’s not just about the time; you need to think about location too. As we all know, there’s a huge boom in remote working, so this can be another USP you offer. Or, the flip side could be true, and you might be in an industry where people are craving that hustle and bustle office environment. If this is the case, it will be more expensive due to rent, utilities and insurance reasons, but it can make you a much more attractive proposition for your workforce.

Training and development

Contrary to popular belief, there’s more to job satisfaction than salary. If you want to keep hold of your best workers, you need to offer them training and development opportunities as well.

This could be anything from sending them on courses to learning new skills or even allowing them to attend networking events. For instance, if your company has a significant amount of German customers, your customer service team could greatly benefit from a German online course. This would not only expand their skill set but improve client relationships as well. The key is to make sure that they feel like they’re constantly learning and progressing in their careers.

Clear career progression

On a similar level to the previous point, let’s talk about career progression.

This could mean offering them the chance to move up the ranks or even allowing them to take on new and exciting challenges.

If your employees feel stuck in a rut, they’re more likely to look for a new job.

Regular reviews

Finally, it’s essential to have regular reviews with your employees. This could be anything from quarterly meetings to one-on-one chats.

The key is to ensure that they feel like they’re constantly being listened to and that their opinions are valued.

Attracting and keeping top talent can be difficult, but it’s not impossible. By using some or all of the methods listed above, you should be able to make your business more appealing to potential employees – and keep the ones you’ve already got.

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