A strong team is vital to small business success. Your employees form the foundation of your organization and are an important determining factor in company growth potential, and bad hires can quickly leave cracks in your development. As a serial entrepreneur, I have learned through good and bad hiring practices the eight simple rules to smart hiring for small businesses – or for any business:
- Pick quality over quantity
Here’s a simple rule: If you think hiring a professional is expensive, just wait until you hire an amateur. It’s been said before, but businesses still continue to ignore this simple rule. Hire employees based on their value, not their price. If you’re hiring a senior-level person at $100,000, it’s costing you less than hiring two mid-level employees at $60,000 each. Big mistakes cost your business time and money. It’s better to get the job done right the first time by investing in a senior-level candidate. Why? Because these professionals have already made the mistakes junior and mid-level employees will end up making on your dime. Entrepreneurs rarely have the time or money to gamble on subpar results. Entrust a seasoned professional if you’re looking for a strong return on your investment.
- Consider your corporate culture
Hire someone that will be a good fit within your corporate culture. If your team is a rabble of social butterflies, someone overly passive may not fit in. Clue into your employee personalities and hire accordingly. This is not saying all personalities should be the same but be aware of characteristics that are bound to clash. The last thing you want is to jeopardize productivity because of internal conflicts. Plus, corporate culture will sustain your business in the long run. Without it, your employees’ motivation and productivity will suffer. Be strategic and hire for the future of your business.
- Show you care
Your employees are walking assets. If you don’t show your appreciation, you risk them walking away. This may not sound like a hiring “practice” but it’s a key factor in the process. Talented candidates usually have offers from other companies when they interview with you. To give your small business an edge over the competition, show prospects the perks of the job. It’s no mystery that attractive employment packages and an encouraging corporate culture are great ways for employees to feel valued within the company.