How to attract the best talent for your business and keep them
In history books, 2020 will be written about as a game-changer. This year has affected every aspect of society from schools, mass-transportation, politics, and of course our economy. Every business needed to amend its practices this year. With the tightening of budgets, many talented employees were let go. Also, with remote work being the norm, leadership, human resources, and management within businesses changed as well. As we approach the turning of the New Year and the rolling out of vaccines, it’s time to ramp up for a productive new chapter in our businesses. You may be looking to hire great, new talent and/or keep the great team that you already have. Here are proven business tips to attract the best talent for your business and keep them.
Put health of your team first
If the last year demonstrated anything, it was that our health is our wealth. As a business, that means that the health of your team as well as your clients are paramount. Depending on the type of business and industry that you specialize in, you will need to take different measures. Going back to work should be a positive sign of our world getting back to normal, but it can be worrisome and stressful without the procedures in place. For all that are heading back to the office, you should take these steps.
Share ownership with your employees
More and more business owners are implementing Employee Share Ownership Plans (ESOP). Not only will you attract great talent, but also with an employee share ownership plan, it has been shown that productivity increased. It is no surprise that employees that have a stake in the business will be more engaged and willing to take on larger responsibilities, tasks, and initiatives. However, the bonus for the business owner is two-fold. You get engaged, talented hires that stay. Plus, you save tax by making payments to the ESOP that are deductible. When you are ready to move on from your business, an ESOP makes it easy to transfer ownership of the business.
Involve your team in recruiting
Happy employees tend to stay longer. Also, they are your best recruiters. Your team can be great ambassadors of your business culture, showing potential employees how they too could be happy at your company. You may want to establish a referral program for your team to find talent too. It can be a win-win-win for your business, your employees, and the new hire.
Get your business and executive team on LinkedIn
LinkedIn is the best online professional networking platform. Utilize it to your advantage by not only beefing up your business profile but also your executive team members’ profiles. Start writing industry articles showing your thought leadership, industry expertise, and trends. Post career opportunities and potential partnerships with your business on LinkedIn as well. Then, watch your inbox for great talent.
As we approach 2021, let’s prepare for the best, most profitable year for your business. That means taking steps to have talented, dedicated professionals as part of your business team. It goes without saying that you need to put health first this year and every year forward. However, taking steps like starting an Employee Share Ownership Plan, getting your team recruiting for you, and leveraging LinkedIn have been proven business success strategies.