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Strategies for Recruitment and Retention in Small Business Landscape

This guide explores the challenges small businesses face in recruitment and retention, offering practical solutions and strategies. Topics include the impact of unemployment rates, housing issues, and retiring Baby Boomers. Learn about evolving recruitment tactics, the interview process, the importance of retention, and ways to retain employees through communication, training, benefits, and incentives. Discover how to reduce turnover costs and create a thriving work environment through employee empowerment and investment. Contact a Business Service Associate for personalized assistance.

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Strategies for Recruitment and Retention in Small Business Landscape

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  1. The Two R’s Recruitment and Retention For Small Business

  2. What’s the Big Deal? • Unemployment at 2.8% • Lack of Affordable Housing • Baby Boomers are Retiring • Young Professionals moving out of the area

  3. Finding Good Employees! • Go where the people are • Think outside of the box • Non-Traditional Demographics • Work with a Business Services Associate

  4. An Ever Changing Recruitment Strategy • New benefits offered • Ramp up • Positions not previously held • Changes in the Law

  5. The Interview Process • Legal Interview Questions • Defined Interview Questions • Check References • Review All Information

  6. Position Specific Interview Questions Create a job description Physical Requirements Overtime Requirements

  7. Why be Concerned about Retention? The average cost of turnover is11.5 % of the employee’s annual salary The difficulty in recruiting good employee’s The companies image Productivity Employee Morale

  8. Turnover Costs $20800.00 X 11.5% = $2392.00 3 people x $2392.00 =$7176.00 For a small business this comes off the bottom line.

  9. Ways to Retain Employees • Survey Current Employees • Better selection hiring • Open communication • Business and Personal Enrichment Training • Offer Benefits or Benefit Alternatives • Performance Based Incentive • Respect • Conduct Exit Interviews

  10. Career Pyramid

  11. Better Hiring Selection • Advertise for Candidates with Work Readiness Credentials • Conduct a second interview • Complete Reference Checks • Identify candidates with job stability and question those without • Utilize pre-employment tests and assessments

  12. Communication • Open Door Policy • Company Movement • Changes to policies and procedures • Empower employee’s to make business decisions

  13. Employee Training Investment = Retention Provide training opportunities in both personal and professional enrichment.

  14. HEALTH CARE Benefits and Alternatives • Health Benefits – Adjusted Pay • Provide alternative information on Health Care providers for individuals • Tuition Reimbursement • Memberships to Discount Clubs • Paid Memberships to Professional Organizations • Weekly Lunch Meetings

  15. Reward Hard Work! Create a bonus program Make goals achievable Staff Lunches Bowling Nights Extra vacation day

  16. The #1 Way to Reduce Turnover Provide an environment that will grow and nurture a Happy Employee through employee Empowerment, Investment in the employee, and Respect.

  17. Need Help? Contact a Business Service Associate South Area Deborah Ballard 321-394-0619 Jessica Benson 321-446-3795 North/Central Area Kathy Roberts 321-394-0553 Sandy Gillespie 321-432-4846 Cynthia Conboy 321-394-0532

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