How Small Companies Can Compete for Top Talent

When you’re the tiny fish in a pond full of much larger fish, it can be a battle to get food. The same goes for a small business competing with established giants of an industry. Their offices may be on the top floor while yours is on the bottom. They could offer a bevy of benefits while you may only be able to offer a few. Starting to get the picture?

Hiring top talent for a small business is tough and requires a more finely tuned strategy than other companies may have to create. Here are a few pointers to get yours headed in the right direction.

Sell the company, not the position
Small businesses are in the unique position to appeal to elite talent in ways larger corporations can’t. Top candidates look to make a difference at the company they work for, and that’s a selling point you need to push during the interview process.

The Society for Human Resource Management (SHRM) recommends letting candidates know if they choose to become a part of your company, they can have a larger impact on it than they would a Fortune 500 firm. Everyone wants to be the hero of a story, so let prospective employees know you can give them the opportunity to do so.

Move quicker
According to SHRM, one advantage small businesses have is the ability to change quickly. Mold your strategy to reflect this. According to Glassdoor, one of the major impediments in recruitment is a lengthy hiring process, because businesses either lose candidates to other companies or the future employees simply think the long wait for a response is a reflection of how the company is run.

Speed up your recruitment process so you can engage with top talent as soon as possible by investing in an applicant tracking system (ATS). This will allow your company to identify the candidates you’d like to hire and invite them for an interview sooner. Get to the candidates that matter before other companies reach them first.

Throw roles out the window
Small businesses should be willing to move away from rigid corporate structures, according to The Wall Street Journal. If your candidate likes to work from home, consider allowing it instead of keeping them in a cubicle all day. Let your candidates know their skill set is the most valued part on their résumé. This means focusing on what they offer the company, rather than what the company needs.

Flexibility and the right hiring strategy within a small business are key. Start incorporating some of these ideas now to get an upper-hand in the battle for top talent.