Recruiting Top Talent Without Breaking the Bank
by Ronis Gracie on February 23, 2016

Read in 1 minute

recruiting-top-talent-without-breaking-the-bank-lendgenius

One challenge business owners may face is attracting talented employees when they do not have much money to spend. The key is to convince potential employees that other benefits outweigh the fact that they may not be offered as high a salary as they would receive in other workplaces.

Know What Makes Your Business Great

Before you can convince someone else of the value of working for you for less, you need to be able to articulate what makes your business a great one. You can talk to others that you work with about what makes your company great and what they would want from a company. It is critical to understand that people will value different things. Above all, you must understand what your potential employee wants.

A serious talk with the employee you are hoping to hire can give you the answers that you need. With a clear picture in your head of what your company has to offer, you can in turn give this employee what they want.

Outline Opportunities

You can identify two different types of potential employees. Some will already be stars and some will be potential stars. Other companies may be able to offer bigger salaries, but they cannot promise other important advantages. Here are just a few of the perks you may be able to offer an employee:

  • A flexible schedule or the opportunity to work remotely.
  • More time off.
  • You may not be able to pay more, but you can offer equity.
  • You can give someone a job that is more perfectly aligned to their own goals and values.
  • Invaluable training.

For example, someone who wants to develop a certain skill like writing may not have been given that opportunity by other employers. You might also be able to promise networking opportunities or that the employee will be able to leave your company in a few years with the experience to move into a high position elsewhere.

In some ways, having a smaller budget may even be to your advantage. With the flexibility of running your own company, you may be able to create a far more attractive environment than another business with much deeper pockets. There are also always business loan options to help you deepen your pockets for the short term before hiring this new employee becomes profitable. The key to success is to identify concrete advantages that you can offer and then find out what specific needs your recruit has. By bringing these two things together, your company can bring in the top talent you need to succeed.

Top Articles

Featured Posts

Trump Pick Linda McMahon Has HUGE Plans for the SBA

by Eric Goldschein on February 17, 2017
Linda McMahon, Donald Trump’s pick to head the Small Business Administration, isn’t exactly synonymous with the word “small.” Along with… Read more

Business Owners: 5 Truths Your Banker Doesn’t Want You Knowing

by Jackie Lam on February 17, 2017
When looking for the best banks for small business loans, Bank of America and Wells Fargo may come to mind. However,… Read more

How to Follow Your Dreams When Your Family Doesn’t Support You

by Jackie Lam on February 15, 2017
Taking the plunge into entrepreneurship can be exhilarating... not to mention a little scary. Whether you’re an aspiring entrepreneur or you're… Read more

9 Unmistakable Signs Your Business Is Going To Make It

by Brenna Lemieux on February 13, 2017
Wouldn’t it be nice if there were a formula that calculated what makes a company successful over the long term?… Read more

10 Entrepreneurs & Inspiring Stories of Startup Success

by Dustin Clendenen on February 9, 2017
Successful startup founders are often hailed as superhuman, but the reality is they're regular people like you and I. Well,… Read more

A Complete Declassified List of Tax-Exempt Fringe Benefits

by Amy Fontinelle on January 30, 2017
With all the uncertainty surrounding Trump's tax plan, tax saving tips for small business owners are as important as ever. Finding… Read more

6 Bad Habits to Break for Gigantic Business Growth in 2017

by Lauren Ward on January 24, 2017
As an entrepreneur or small business owner, the New Year is the perfect time to take a step back and… Read more

Should You Refinance Your MCA?

by Caitlyn Rose on March 3, 2016
At some point during the lifetime of virtually all small businesses, an influx of cash will be needed. When the… Read more

5 Genius Tactics to Fund Your Business

by Ronis Gracie on October 7, 2015
Starting and maintaining a small business is a challenge that requires the confluence of many elements: An idea, a plan,… Read more

9 Cloud-Based Tools to Solve All Your Small Business Accounting Needs

by Caitlyn Rose on September 19, 2015
 As a hard-working entrepreneur, you should already know how important it is to keep a careful watch over every penny coming… Read more
Trending

SBA Loans: The Ultimate Guide to Government Lending

by Amy Fontinelle on February 7, 2017
Small business loans through the SBA fall under several categories and while they all have slightly different requirements, there's a few universal… Read more

An Epic Guide to Business Credit Cards, Charge Cards, & Lines of Credit

by Eric Goldschein on February 2, 2017
If you’re a small business owner, you know how important it is to always have extra capital on hand so you… Read more

The Trump Presidency & Your Small Business – What You Need To Know

by Eric Goldschein on January 19, 2017
As Donald Trump takes office, small business owners everywhere are wondering what to expect from the 45th president. While Trump’s small… Read more

5 Advertising Tools to Help Your Small Business Grow

by Ronis Gracie on September 11, 2016
If you would like your small business to flourish and grow, you need to offer unique products or services that… Read more
Learn More