5 Ways to Attract Employees When Opening a Small Business|5 Ways to Attract Employees When Opening a Small Business

5 Ways to Attract Employees When Opening a Small Business

You’re opening a small business, and there are a million things to think about. One of them is hiring employees—but how are you supposed to compete with the Googles, AT&Ts and Costcos of the world when it comes to attracting qualified workers? Don’t stress. In reality, your startup has many characteristics that make it a highly desirable place to work—if you know how to “sell” it to potential employees. Here are five ways to attract employees to work for your startup:

Pay competitive rates

Your wages don’t have to match those of industry leaders but they should be comparable with other small businesses in your area and industry. Check out the salaries info here at Glassdoor and contact your industry association to get information about average salaries and wages for businesses like yours.

Promote your culture

Every business has one—even a small startup. Since you’ll likely be seeking young, entry-level employees who rely on the Internet for everything, make sure your startup’s website promotes your company as a fun, exciting place to work. Share photos, videos and bios of you and your staff on your website and on social media.

Offer perks

You may not be able to offer perks like catered meals, doctors on-call or a rock-climbing wall, but think about what you can offer that employees will care about. Flexible hours, the ability to work remotely and the option to bring their own devices to work (BYOD) are all factors that strongly influence employees of all ages when deciding where to work.

Focus on growth opportunities

One of the major advantages a small startup offers over a big corporation is the chance to make a difference in the workplace right away. Emphasize that instead of being part of a slow-moving bureaucracy, your employees will be part of a fast-moving team that gets things done. They’ll have the chance to wear a variety of hats, work with all different departments within your company and advance quickly if they prove themselves.

Offer financial compensation in other forms. If you expect your business to grow rapidly and possibly be sold or go public one day, consider offering your employees stock options or setting up an employee stock ownership plan (ESOP). For a privately held company, offering a profit-sharing plan or awarding bonuses for meeting company-wide or individual milestones is a good way to motivate your team. Best of all, since you pay only if results are achieved, this is a cost-effective option for a small startup on a budget.