Why SMBs Can Still Acquire Top Talent, Even Without Huge Recruiting Budgets

Despite small and medium sized businesses (SMBs) controlling a significant portion of the US economy, they still have tend to have varying degrees of trouble when it comes to attracting high-quality talent. One of the main reasons is competition from big companies – companies that are able to offer top job candidates stellar benefits, more opportunities for career development, a sense of job security, and the prestige that comes with working for a top brand.

However, it is still possible for SMBs to attract top-level talent – even without possessing huge recruiting budgets – by simply following the tips below:

Compete on flexibility and responsibility
SMBs have a shorter hierarchy compared to large companies. Therefore, they are more responsive to unique employee needs when the situations warrant it. Therefore, they offer more flexibility to the employees in many job-related issues such as telecommuting, education, travel and so forth. In contrast, the large companies are slow in making decisions related to individual employee needs. The job flexibility, better work-life balance, and opportunities for big responsibilities within the company can help offset the big parks and benefits offered by big companies.

Make use of vocational schools, internships, and the government programs
Small and medium companies offering old economy jobs in construction, machine operation, and plumbing may have problems getting quality talent among the young. However, it can partner with vocational training colleges offering similar courses and offer an internship for students in such institutions. This is a cheaper way to get quality talent cheaply and grow it in the company. Many state governments are also getting into partnerships with organizations to help employers get talent, train them, and get them jobs.

Try word-of-mouth hiring to cut costs
It is good to encourage employees to recommend the company to friends and contacts in return for bonuses. Referrals are an easy way to get talent while ensuring that the new employees have a good report of the company.

Look worldwide for quality talent
Many countries including the EU and Canada have been working on modalities of enabling companies to compare degrees of other countries with the equivalent in their countries. This makes it easier for employers to hire quality talent from other countries around the world. Small and medium organizations should consider moving out of the ‘old thinking’ and open doors for talent from around the world. Despite the additional paperwork, the talent is cheaper to recruit and maintain in the organization.

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