Ask any business leader today what he or she is worried about, and they will most likely discuss the challenge of attracting and retaining top talent.
Nowhere is this concern greater than in the minds of small-business owners. It is even tougher when the job market tightens.
October was one of the best job-creating months this year, with 235,000 private-sector jobs added. This means the pool of unemployed workers continues to shrink and current workers are being lured with big pay bumps to switch jobs. It’s causing managers — from companies big and small — to worry about how they can compete for skilled workers.
This is especially challenging for small businesses. When small businesses need to fill a job, they are going up against the recruitment campaigns, salaries and benefits that larger companies can offer.
However, despite the challenge of fewer candidates seeking work and the pressure to retain current employees, small businesses can have a real advantage in attracting and retaining top talent if they use their resiliency.
Read this byline article by ADP’s Ahu Yildirmaz in The Business Journals to find out four ways small businesses can compete for top talent!