Keeping Up With The Best – How Small Companies Can Compete With Tech Giants
The rich keep getting richer isn’t just a phrase that refers to economic status. Instead, the same idea is often true in the business world, as companies like Facebook, Google, and Amazon often attract the best talent to come work for their companies. Many people view these companies as the apex of employment, simply because of how well known they are and the way they reward most of their employees. While small companies may have difficulty keeping up with the type of revenues that these companies earn, that doesn’t mean that there aren’t ways to attract great talent to a team. Here are some ways that smaller companies can compete with these large companies, in order to get the best employees working for them.
When the time comes to start looking for new employees and talent, recruitment is going to be influential in finding these resources. Therefore, the recruitment process is not something that your business should skimp on, but rather there should be a huge emphasis placed here.
To find the best employees, it is the responsibility of the business to go to college campuses and work fairs where these people will be. No matter how many résumés come across your desk, there is something to be said about the importance of meeting people in person. Not only does this give you a chance to impress those that you want to work for you, but you will likely also find a few diamonds in the rough who you immediately know will be a great asset to your team. Keep in mind that not everyone has the best résumé to hand in, but meeting people in person will allow you the chance to find employees who are too good to pass up.
Have A Great Idea
Most new employees want to be a part of something that is going to make a difference and get recognized for what they do. This is no different in the design and development industry. So while some candidates may opt for working for a big company like Facebook or Google, others will want to be a part of something in its early stages, in hopes of turning it into something much bigger.
When approaching prospective employees, smaller businesses should do their best to show them what it is that they offer and the ideas that they have. Granted, you’ll want to keep some things under wraps until they sign a non-compete, but giving them an appetizer of what you plan to do could be enough to whet their palate and get them excited. Some of the best employees aren’t the ones that simply want to punch a time clock and get paid by a large company, but rather be part of something special and new. For those companies that offer this opportunity, they’ll notice that prospective employees perk up at the chance to work for them.
Provide A Fun Work Environment
The days of cubicles and 9-5 shifts have gone out the window. Companies like Google, Facebook, and Amazon aim to provide their employees with new working conditions for a variety of different reasons.
First, many of these companies think that getting rid of cubicles and allowing mobile workspaces will generate creativity. It also makes for more communication between employees, which is where great ideas can come from.
Second, when a company offers a fun work environment, it makes employees want to stay their longer throughout the day. After all, not everyone has a foosball table, gym, or free cafeteria at their house. But if they know that they can get these amenities at work, they’ll be dedicated to stay for longer.
By providing a fun workplace, prospective employees will see that you are making an effort to offer some of the same working conditions that some of the biggest names in the industry offer as well.
Offer Good Pay And Benefits
At the end of the day, or every two weeks in this case, many prospective employees are going to want to know what you can do for them and how much they’ll be compensated for their efforts. Granted, small businesses likely won’t have the financial means to keep up with many of the large companies, which means they’ll have to be creative with what they offer.
One way to do this is to offer a salary that is competitive, but also look to other places to compensate the employee. For example, stock options or bonuses can be set in place if an employee meets certain goals throughout the year. Having some of these, “the sky is the limit” pay structures will not only make the employee work harder, but it’ll also lead to the business getting more from those that are working for them.
Retain Your Employees
People want to work for a company where they won’t have to fear losing their job every time they go into the office. Therefore, keeping a high retention level for your employees is a key way to interest new staff. It doesn’t mean that the employees you hire will be with you throughout their career, but it could be enough to get some of the best employees to feel confident to come work with you when they are first starting in the industry.
Work With High-Priority Clients
Some clients may automatically aim to work with companies like Google, Amazon, or Facebook when they have development needs. That said, it doesn’t mean that you can’t work hard to still attract high-priority clients. As your small business lands these clients, employees will see that they have a chance to work with such companies. It’s important to keep in mind that, no matter what you offer, employees are still going to be looking out for themselves and their future. So if they know that working for you means they’ll get the chance to work with –and possibly impress- high-priority clients, that’ll be a very attractive option for them to consider.
Demonstrate Through Leadership
Finally, remember that nobody wants to work with a boss that they don’t like. Therefore, it’s important that you demonstrate through leadership and be the best employer that you can be. If you present yourself as a leader with goals to continually push the company to be it’s best, that will look favorably in the eyes of prospective employees.
It may seem like quite a task to find the best employees when companies like Google, Facebook, and Amazon are poaching them all right out of college. That said, it doesn’t mean it’s impossible. Keep these tips in mind when looking for the best employees and even small businesses will be able to attract new employees that are great compliments to their team.