How to Compete for Employees When Unemployment is Low

Small business owners are now facing the lowest unemployment rate in a 50 years. Many of them are worried about how they can compete for the best employees for they need desperately for their company.

How to Recruit when Unemployment Is Low

On this week’s Small Business Radio Show, Himanshu ‘Sue’ Bhatia, who was named one of Fast Company’s “Top 25 Women Business Builders in North America”, talks about how every small business owner can find the best people. In the interview, her advice includes:

1. Establish a company culture that people want to work for. Sue explains that if you are going to get the best people, they must ultimately be attracted to your company as a place to work. It is also critical that current employees refer their friends. When they are happy, they will invite other future team members to join them. I think that even some of the fans of the company can become a future part of the team. Sue reminds us that your culture must embrace all the generations in your company and not just cater to one group.

2. Establish a local reputation. Sue believes it is easy to get press in the Business Journal publications that are in many metropolitan cities. She also suggests pursuing awards like “The Great Place to Work” so future employees will again be attracted to your company.

3. Become socially responsible. Sue reminds us that people want to now work with companies that are socially responsible with the future of our country. I always think that most employees want to be part of a mission that is bigger than them that they could not achieve on their own.

Sue also believes that we need to re-skill the work force and prepare our graduating students better. This was a problem she emphasized when she recently attended the White House Economic Summit. They discussed how many students graduate with a degree that does give them the proper skills so they can pay down their debt. LinkedIn released the list of the top soft and hard skills needed in 2019 that included cloud computing, analytical reasoning, AI, emotional intelligence skills, time management and adaptability. In fact, Sue emphasizes that 65% of children entering elementary school today will be doing a job that does not yet exist!

Listen to the entire interview at The Small Business Radio Show.

Image: Depositphotos.com

This article, "How to Compete for Employees When Unemployment is Low" was first published on Small Business Trends