To be successful day-to-day, and in the long term, it’s important for businesses to take measures to both attract top talent and retain those quality employees once they have them. But with fewer resources than larger companies, many small business owners may feel they are unable to compete with extensive perks and expensive benefits. 

However, many of the things that employees most value—including work-life balance, transparency and appreciation for a job well done—are things that small companies are well-suited to offer.
First Bank President & CEO
This article will offer our best advice for bringing in quality applicants, and keeping your dedicated employees engaged and committed. Let’s start by exploring how to draw in the highest quality applicant pool.

Read more about First Bank, and how they can help in our June Hear From the Experts Article!
Attracting Top Talent

From Generation X to Generation Z, finding a company with a compelling culture and clear values is an essential part of the job hunt. Building your business’s brand to appeal to these sentiments can help you attract a strong customer base. It can also draw in a larger pool of applicants—ones who will also be dedicated to your company’s message. Additionally, your company’s values should be reflected in the benefits that they offer and advertise.
 
When recruiting candidates, you want to be sure that your job descriptions effectively communicate the job and relate the aspects of your work culture that will entice top talent. A few ways to achieve this are to include a “Who We Are” company summary, plus job responsibilities and requirements.
 
Even the most transparent job listing won’t get you very far if you don’t have the company culture, values or benefits that bring in talent. While it can be difficult to balance the wants of employees with your company’s bottom line, keep in mind that not all perks are costly. Some key offerings you can use to entice the right applicants are:

  • The right pay
  • Schedule flexibility and sufficient time off
  • Decent health, retirement, and wellness benefits
  • Tuition or continuing education reimbursement

Retaining Top Talent

Once you’ve got a quality employee, you will certainly invest a lot of time, money and energy into training them for their job and incorporating them into your company culture. You want to be sure that, in addition to good benefits, you also create a workplace environment in which they will want to stay. Here are a few retention strategies that can have a big impact:

  •  Deliver clear communication and transparency
  • Create opportunities for professional development and career growth
  •  Recognize and reward
  •  Provide work-life balance and flexible scheduling

There’s a lot that goes into making a business successful—but no company can prosper without the many individuals who contribute to making it happen. Small business owners may feel that they will struggle to attract and retain talented and dedicated employees, but there are many things that small businesses can do to compete with larger companies.

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ABOUT FIRST BANK
Founded in 1893, First Bank has $611 million in assets, 12 branches and specializes in delivering tailored and unexpected solutions to businesses, farmers and families. Its holding company, Southern Illinois Bancorp, Inc., in Carmi, Illinois, has one other entity, Southern Illinois Title – together employing 120 associates. Learn more at MyFirst.Bank. Equal Housing Lender, Member FDIC.