You can’t succeed without a great team, so it only makes sense for one of your most crucial investments to be recruiting the best talent. Google-like perks are probably just a tad outside of your price range but with the help of a modest small business loan, you’ll be able to show potential and new employees just how rewarding it is to work for your company.
These investments will allow you to find the talent you need, keep them on your team, and, of course, generate increasing amounts of revenue. In order for a team to perform, it must understand its own value as well as that of its grateful leader.
YOU CAN’T HUNT WITHOUT BAIT
The first step is promoting your brand so that candidates will notice and want to come to you. Companies that frequently advertise on social media and search engines are widely viewed as the leaders of their industry. But before you start promoting, make sure your brand has the power to gauge interest organically. Your logo must be attractive and recognizable, and your mission statement must connect with potential candidates. If a candidate were to visit your website, he or she must quickly be able to discern what makes your brand unique and valuable while marveling at the site’s convenient yet eye-catching design.
Once you have built a brand that effectively communicates your expertise, advertise it on multiple social media channels such as LinkedIn, Facebook and Twitter. Then, use display ads, search ads and inbound marketing content like blog posts and info-graphics to drive traffic to your website.
FINDING THE RIGHT HUNTER
Building and promoting your brand is obviously a lot of work, and you don’t want to distract yourself from running your business. It would be wise to hire a marketing specialist who can take care of all of this for you because promotion is an ongoing effort that must be monitored on a constant basis. But since the service is temporary, look no further for funding than a small business loan. The upgraded productivity of your new team will easily pay off the debt, and there are several funding programs available that allow you to only begin making payments when sales start rolling in or pay less when sales are slow.
GIVE THEM THE TOOLS THEY NEED
To bring the best out of your team, give them an ideal work space containing the most advanced equipment available. In terms of location, having an office that is near great places to eat, get coffee, exercise and just relax outside is tremendously beneficial. It must also not be too far from your employees’ homes, since a stressful commute may tempt them to seek greener pastures.
The main point of upgrading your work space, however, is accommodating a larger team, so choose a location that offers significant space to work and socialize.
According to Forbes, a study conducted at MIT’s Human Dynamics Laboratory found that success is directly related to how well a team communicates at informal meetings, or meeting that aren’t about work. The results suggest that if team members aren’t given the opportunity to regularly communicate, they will view each other as parts of a machine, not human beings that deserve their help and criticism. Proof of this theory lies within the success of Google, where employees foster close relationships by eating together in a large dining area.
TRUE LOYALTY IS PRICELESS
Expanding your work space is another appropriate use of a small business loan because it will logistically lead to an increase in revenue. Your team will be grateful for the resources you have provided for them and want to repay you with hard work. They will feel motivated, confident, and, most importantly, capable, because you wouldn’t have given them these resources if you didn’t believe they weren’t worthy of them.
Who knows, if you put enough thought into choosing the right work space, your team might never want to leave! The less time employees spend thinking about how uncomfortable they are, the more productive they will be.
SHOW THEM YOU CARE
Now that you have formed a reliable team, it’s your responsibility to show them how much you value their work. Unlike your previous investments, rewarding your team allows you to bond with them on a personal level because you’re showing them that they are your friends, not just co-workers. Options for rewards or, to be more precise, celebrations, include field trips, overnight retreats, or the always-effective bonuses.
But like your previous investments, this will surely increase revenue. Research by the American Psychological Association (APA) revealed that 93% of employees who reported feeling valued were inspired to do their best at work. How could you not want to impress someone who gave you one of the most enjoyable nights of your life?
YOUR REWARD IS JUST AROUND THE CORNER
If you paid off that first small business loan on time, you’ll likely have no trouble securing a second round of funding with even better terms. Don’t worry about paying it back because your team will take on a new level of determination after being sufficiently rewarded. They will want to earn more rewards and rightfully assume that an even more satisfying one is waiting right around the corner if they work just a little harder. A happy team is a productive team, and happiness comes from appreciation and recognition. Make your team love you and your business and you’ll have done all you can to maximize output.
The loan experts at United Capital Source understand that maintaining a loyal team of employees is essential for any business to evolve. If your business is looking to take on new hires of a high skill level, call 855.933.8638 or visit the UCS website. UCS loan programs are specifically designed to grow businesses during rocky times without impacting cash flow!