Small business owners rarely consider the impact that recruitment has on the company. There are some common issues that many small organisations face, and these issues can harm your business. Today, we’re going to look at the three most obvious concerns, as well as what you can do to combat them.
Struggling to find the most talented candidates
You’re hiring people, but they’re just not up to the standards you were hoping for. This leaves you in a tricky situation to try one of two things:
- You fire the candidate and try to hire a better one, or
- You attempt to train the candidate to make them reach the standard you were hoping for
Both scenarios can be troublesome and costly for your business – both financially and time-wise. As such, you need to develop a better recruitment strategy. One idea that a lot of businesses are trying is to hire people from other countries. The engineering sector is really big on this, with so many engineering jobs abroad right now. Healthcare businesses always look to find people from other countries, and so on. By opening up and entertaining the idea of overseas recruitment, you could easily find more talented individuals for your business.
Struggling to retain your candidates
We mentioned above how you may have to fire candidates if they don’t meet your standards. Similarly, some candidates might quit your business within a year if they don’t feel at home. This tends to happen if you have a poor recruitment strategy that doesn’t focus on long-term employment.
When hiring talent, you need to emphasise that this is a long-term situation. Show them what they can gain from your business – bonuses, promotions, etc. – then act on it. This will keep your staff happy and willing to work for you for as long as possible.
Struggling to handle expensive recruitment costs
You see, the previous two issues will lead to this problem. If you are constantly needing to hire new people because some employees quit and you have to fire others for not being good enough, it makes the cost of recruitment climb to insurmountable levels.
To keep recruitment costs low, you have to focus on getting the right decision straight away. Take some extra time when reviewing applications or interviewing candidates to be certain that you’re hiring the right person. This will mean you get someone that works for you for many years, reducing the number of times you have to hire new talent, and cutting your recruitment costs.
To conclude, these recruitment issues are harming your business in a couple of key ways. For one, making the wrong hires will mean that your business wastes a lot of time. You have to spend time looking for replacements or training people, and this means you struggle to be as productive and efficient as possible, which affects your bottom line. Speaking of which, getting things wrong during the recruitment process will mean you have to keep recruiting again and again. Needless to say, this costs a lot of money and also harms your bottom line. So, in short, make sure you make the right decision when hiring talent for your business.