In March of 2021, the United States had 8.1 million vacant jobs — a startling reality.
Small businesses are having trouble recruiting and retaining talent. Want to learn how you can beat the trend and ensure that your staffing is in order? Read on.
Here are our top five tips for staffing a small company.
1. Don’t Pay Too Little
One mistake small businesses often make is paying their employees too little.
Look, we get it. You’re just starting out and you don’t exactly have an abundance of cash. But one of the best ways to lose your new employees is to pay them less than they think they’re worth.
One of the best recruiting strategies is to pay employees a fair wage based on what they can bring to your company.
2. Don’t Pay Too Much
Don’t let your zeal to improve staffing go too far, though.
The key is to pay your employees a wage that will keep them in your company, but not too much so that your company suffers because of how much money is going into your staffing.
There are other ways to “sweeten the pot” and get your employees to stay than simply paying them a lot of money. For example, an employee fitness center can pay dividends by reducing absenteeism.
3. Make Sure Your Paystubs are in Order
Paystubs are an essential part of retaining your staff and ensuring that there are no discrepancies between what you think you paid them and what they think they received.
It may be hard to know how to create a professional paystub document when you are a small business. Thankfully, some services function as a paystub creator, letting you develop paystubs online with ease.
4. Vet your Talent
Always make sure that you are hiring the very best talent available.
Remember when we said to pay your workers a fair wage? You can only know what that fair salary is if you thoroughly review and question your prospective employees.
One of the most significant ways to vet your talent is in the interview. Make sure you’re asking questions that can differentiate employees that will be productive and stay with your company from those that won’t.
5. Don’t Hire Too Many or Too Few People
The key to staffing excellence is knowing exactly how many employees your company needs to thrive.
Hire too many people? You’ll be paying too much and won’t be able to invest enough in your business.
Hire too few? Your business will be gasping for air, unable to operate without the number of employees it needs.
The key is to strike a balance between the two. This balance may not be immediately apparent, but you’ll get it after a few tries!
Go and Staff Your Small Company with Confidence
Now that you know the ins and outs of staffing a small company, get out there and put your knowledge into action!
If you want to know more about business strategies, upcoming technology, and more, check out more articles like this one on our blog.