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Practical HR Tips For Small Business Owners Hiring and retention best practices business owners can implement to build diverse teams and create an inclusive workplace By Jessica Lambrecht, The Rise Journey
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mall businesses make up 99.9% of U.S. companies, employing 46.4% of people across the country 1. These businesses face the same challenges as their larger counterparts: how to hire and retain the right people to build and sustain a prosperous business. While the impact of great employees on the business is clear, the impact of management’s HR practices on employees is often overlooked. And with labor ranking among the highest costs for businesses, accounting for upwards of 70% of spending 2 and costing approximately $4,700 for each new hire 3, managing the employee experience is vitally important. Added to all of this is the impact of building a diverse team, engaging new generations, and fostering an inclusive workplace.
Given current economic conditions and shifting market trends, getting the right people on your team and getting them to stay are two of the biggest challenges facing small—or any—businesses today. While you may not have the resources to do a complete overhaul of all of your HR practices, there are steps you can take today to make immediate improvements in your existing systems to increase the quality of your talent pipeline and create an inclusive workplace where employees will flourish.
Getting People on Your Team
Building a great team is often difficult under the best of circumstances. Casting a wide net, being transparent about role expectations, and maintaining good relationships throughout the process will ensure the right people apply and stay engaged with your company, even if they don’t get the job (this time around).
Managing the hiring and retention of talented employees is a large investment and no simple task. The employee experience encompasses everything from the moment a potential applicant views a job description all the way to someone leaving the company. The resources necessary (both internally and externally) to create equity and inclusion at every stage are often beyond the resources of small businesses. More often than not, these critical processes are informal, if they even exist.
HR Strategy & Planning Excellence presented by HR.com
February 2023
●● Include a salary range. ●● Include a start date and other relevant details of the hiring process. ●● Clearly and accurately describe the role’s responsibilities and expectations.
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