According to Wasp Barcode Technologies State of Small Business Report, 50 percent of small business owners admit that hiring new employees is the top challenge they face this calendar year. That makes hiring the biggest challenge – ahead of growing profits, providing healthcare, increasing revenue, and eliminating cash flow issues. Recruiting and hiring talent for your business is an obvious challenge, which is why we’ve comprised this list of 5 tips to help your process along. As you carry out these strategies, or any other relating to your hardworking employees, protect your business with a customized New York Employment Practices Insurance policy.
#1: Utilize assessment tests.
According to Small Business Trends, one of the biggest challenges for small businesses is that they don’t have a ton of experience with hiring. This frequently leads to inappropriate assessments and unwise hiring decisions. One way you can avoid making these mistakes is by removing your own biases from the equation and relying on objective benchmarks, like assessment tests.
#2: Offer benefits.
In a competitive job market, you have to earn competitive advantage over other businesses in your field. Employees want (and need) benefits to support themselves and their families. Consider offering flexible work schedules, medical benefits, and vacation packages for all of your employees.
#3: Approach recent grads.
If you don’t have a big budget for hiring, but you want determined candidates, look no further than recent college graduates. You can start them off on an entry level salary and teach them the ropes – it’s a win-win.
#4: Quality over quantity.
A warm body might fill the position, but this isn’t necessarily a cost-effective solution. A less-than-qualified candidate can weaken morale, increase workloads for other workers, and threaten employee turnover. Save your business time and money by holding out for the right person.
#5: Promote from within.
Are you paying attention to the talent you currently have in your organization? The most cost-effective way to fill upper-level positions is to hire from within, but you can only do this if you’re actively cultivating this talent. Create a plan and build a talent pipeline — it’ll eliminate a lot of the recruiting struggles you currently face.
About The Rubin Group
Based in New York, The Rubin Group provides insurance in most of the 50 states. Our full-service insurance brokerage provides insurance and risk management services to individuals in all income brackets and businesses of all sizes and types. We understand that every client has unique coverage requirements, and we are passionate about providing the ideal individualized coverage for each customer. Each member of our team takes the time to truly understand your situation, the particular risks you anticipate – and the very real risks you’ve not yet contemplated. For all of your insurance needs, contact us at The Rubin Group!