Despite a still struggling economy, the state of Texas is still dominating job creation in the U.S. Since 2000, Texas has added 2.1 million jobs for its residents, making up 30% of the jobs added in the U.S., and the growth doesn’t seem to be slowing down anytime soon. According to the Texas Economy Comptroller’s Economic Outlook survey, Texas has added jobs in all of the 11 major industries, including professional and business services, construction, mining and logging, government, manufacturing and many others – all within one year.
With this influx of jobs in Texas affecting nearly every industry, business owners may find it challenging to hire skilled employees when there are so many companies competing for the same talent. Here we’ll provide five ways today’s business owners can outpace their competitors when it comes to hiring top talent.
5 Tips for Surpassing Your Competition
Job Posting Placement: Gone are the days of looking in the classified ads for a job. In today’s society, social media is one of the most effective outlets for job postings.
It was reported by Inc.com that 92% of businesses now use social media as a recruitment tool. Websites such as LinkedIn, Facebook and Twitter have candidates searching high and low for companies looking for talent – all you have to do is get your job post out there.
For applicants, LinkedIn is a great source to include valuable information to employers like resumes, personal information, and past accomplishments. Plus, LinkedIn also provides a place for candidates to look through job descriptions of hiring companies. For employers, LinkedIn allows applicants to upload their resume online so hiring executives can review candidates’ information quickly and easily.
Employee Benefits: Offering a benefits package can help you outweigh your competition. Studies have shown that a comprehensive suite of benefits can help improve employee satisfaction. This includes voluntary benefits such as life insurance, disability insurance and a 401k. In a report by LIMRA, a survey showed the 71% of employers believe that offering voluntary benefits can improve worker morale and satisfaction. So the more appealing the benefits package, the more appealing the position.
To really attract those top employees, you must clearly define your benefits package during the recruitment process. Instead of combining salary with benefits like most companies, show what his or her benefits will be on top of salary. For someone making $40,000 a year, knowing that you provide medical, dental, vision, disability and life insurance and a 401k can help sway him or her towards joining your company.
Competitive Compensation: It’s no surprise that attractive wages retain employees and entice new hires. But setting a salary can be complicated, especially if you don’t have a baseline range for the position. To determine what your pay scale should be, use Salary.com to see competitive rates for positions within a certain geographical area. This will give you a good idea of the high and low rates of your state and town so you will know what candidates will expect when applying for the position – and help you match or surpass your competition’s salary.
Offer Online Solutions: Online tools are a major plus for employees. Being able to download and print out W2s, check stubs and having direct deposit allows employees to take control of their finances easily. In this digital age, having paper check stubs and handing out W2s are a thing of the past. With today’s technology, employees no longer have to waste their time by depositing checks at the bank, the money gets directly received by their bank and placed into their account – a major time-saver. Plus, as a business owner, this saves time for you too. Owners spend an average of 10 hours per month on payroll. That’s time being taken away from much bigger goals. Having an automated system allows you to get back to what matters most – your business.
Provide Training & Development: Extensive training for your staff is vital for a successful business. Training and development programs can not only help attract top talent, they can also help you retain your current employees. When employees feel that you are invested in their education and knowledge, they are more likely to be more invested in your company.
When creating training and development programs, it’s important to start by defining the needs and goals of your company. Based on those needs, you must then identify position-related goals and match training and development programs to those goals. This ensures your new employee has the appropriate job tools they need before they even start – a win-win for both employer and employee.
When it comes to hiring new talent, it’s important to keep in mind that new employees see value in more than just money. Providing employee benefits, incorporating online tools and investing in training for your key employees can help you outpace your competitors and find that top talent your business needs to be even more successful. At Unique Employment Services, we can help you find the perfect employees for your company. Find out more by downloading our free eGuide.