A recent business survey revealed that 63.1% of small business owners across the US plan on increasing staff in 2017. These business owners seem to believe that new hires will propel their companies to unprecedented heights, likely by increasing supply and developing higher quality products or services.
But as any successful business owner knows, the hiring process isn’t as easy as simply asking for resumes and then finding the candidate with the most relevant experience. You’ve got to have a much clearer picture of the kind of candidate you’re looking for and make a conscious effort to attract the ideal choice. Odds are, the candidate you have in mind won’t come to you unless you take the time to ascertain that hiring this individual is the right move for both you and your new employee.
Here are four things to keep in mind if you are planning on taking on new hires in the near future:
1. ATTITUDE OVER EXPERIENCE
In 2010, Sir Richard Branson spoke at a marketing conference in Indianapolis to reveal some of his secrets for success. He said that when he started Virgin Airlines, he didn’t hire based on experience like every other airline. This was how he had hired employees in the past only to find that the most experienced candidates were merely more knowledgeable about someone’s else way to do business. Branson instead chose to hire based on attitude, or the capacity to learn. It is, after all, much more difficult to teach someone how to mesh well with employees and understand directions than it is to teach fairly rudimentary skills.
Candidates with the right attitude, however, are few and far between. The majority of the candidates that apply for your opening will do so because of their experience, so you’ve got to make sure your company’s image reflects the attitude of your best employees. You must also give yourself plenty of time to conduct as many interviews as necessary to find the answer to your call.
2. PEOPLE OR IDEAS
Are you looking to increase productivity or quality? Some problems cannot be fixed by a new crew of hard-working, energetic employees. Maybe you need a very specific type of person who possesses a high level of creativity, ambition, or experience. Consider whether or not your business’s stagnancy is due to a chink in your team’s chain or a lack of enthusiasm triggered by a growing separation between employees and customers. Your employees could very well be losing their connection with your brand, possibly because they can no longer identify with its general purpose.
Solving the latter dilemma could bring your business to its next evolutionary stage but, much like candidates with the right attitude, candidates with the ideas you need are the hardest to find. Such a major step requires major changes to your company’s reputation, which brings us to another important task that must be completed if you are on the hunt for a uniquely valuable candidate.
3. WHAT DOES YOUR WEBSITE/SOCIAL MEDIA LOOK LIKE?
Your company’s website and social media accounts represent the entirety of your image for those who are not familiar with your products or services. This is what potential employees will see when they click on your ad for a job or search for your company on Google. You want these candidates to be impressed and inspired by what they see. Taking on vital new hires in 2017 means updating your website and social media accounts to show that your company understands the importance of a strong online presence. If your website appears to have been untouched for several months or your social media accounts have nothing to provoke interest, no valuable candidate is going to take your company seriously, especially those applying to jobs related to social engagement or technology in general.
4. DOES YOUR CANDIDATE LIVE CLOSE TO YOUR WORKPLACE?
A lengthy commute could significantly hinder all of the skills your most promising candidate has to offer. Yes, this severely diminishes your pool of candidates to choose from but commuters have admitted to numerous researchers that commuting prevents them from performing to the best of their ability. You simply cannot afford for any factor to jeopardize the value of your new employee. Forcing a new employee to travel anywhere near or over an hour to get to your workplace is particularly detrimental if the employee was hired for his or her attitude, drive, or productivity.
FUND YOUR DECISION LIKE ANY OTHER MAJOR INVESTMENT
Alternative business lenders like United Capital Source offer small business loan programs specifically tailored for taking on new hires. Working Capital Loans, for example, provides an amount roughly equal to the cost of day to day operations and monthly expenses. You’d be able to take your time searching for and training your new employee without worrying about paying bills when operations slow down for a few weeks. Another suitable option is a Merchant Cash Advance which supplies a lump sum of funds today in exchange for a percentage of future credit card sales. There are no fixed, monthly payments or due dates.
This program is ideal for businesses that cyclically take on new hires during the busiest times of the year, like the summer or holiday season. Sales are down in the months leading up to the busy season but with a merchant advance, you’d be able to run your business while training your new employees so they are well-prepared for the uptick in sales that awaits. It’s at this point when you would pay off the brunt of your merchant advance.
United Capital Source has helped thousands of businesses avoid impacting cash flow as they find the perfect candidates. These businesses received funding programs that were customized to the unique circumstances of their industries, meaning they didn’t have to put their hiring needs on hold because of occasional dips in revenue. We urge you to contact UCS when the time comes for you to take on new hires to ensure that your business could enjoy a truly satisfying return on this crucial investment!