September 20, 2018

Tips for Competing for Talent against “the Big Guys”

Smaller companies are often obligated to compete for customers against the Amazons and Googles in their industries. With today’s red-hot battle for talented job candidates, this competition extends to effective recruitment and hiring as well. If the “big guys” offer higher compensation and a bigger benefits package, how can smaller companies successful attract the best candidates for their businesses?

The good news is, many millennials and other job-seekers don’t necessarily want to get swallowed up inside a large organization. Depending on your industry, a number of tactics can get you noticed by the talented men and women who would most benefit your company. Here are some tips:

Promote your company mission. Like employees from prior generations, millennials are attracted to organizations with core values that match their own. It’s worth reviewing (and, if necessary, revising) your mission statement to emphasize how your company’s values form the bedrock of why your business exists.

According to Harvard Business Review, this can increase your appeal to millennials who want to take jobs “that give them a sense of fulfillment or meaning, allow them to be authentic and play to their strengths, offer opportunities for learning and growth, and empower them to take initiative.”

Incorporate people analytics in your recruitment process. Data compiled from your past and current recruitment processes can yield valuable insights into what you do right and where obstacles appear that block effective hiring.

People analytics is a data-driven approach designed to “measure the effectiveness of HR processes, evaluate current workforce performance and to recruit top talent,” notes Business 2 Community. It’s a highly effective system for “tracking and predicting future performance of both current employees and prospective candidates.”

According to Human Capital Institute, people analytics is especially useful in:

  • Evaluating which sources generate the best candidate leads
  • Determining the average length of the hiring process
  • Molding the best candidate experience
  • Generating interest among a more diverse candidate pool

With respect to diversity, HCI notes, analytics will help you “continuously monitor your hiring funnel for important demographic ratios such as gender, ethnicity, and veteran status,” which then allows you to “implement the correct evidence-based programs” to boost diverse candidates in your talent pipeline.

Get help from third-party staffing partners. Smaller companies may be hard-pressed to find the time and resources needed to compete for talent with bigger businesses. A qualified third-party staffing partner can fill that gap, with scalable, globally distributed delivery models that source, screen, interview and employ top-performing individuals from a wide-ranging talent pool. The results often include:

  • Significant cost and time reduction in hiring new talent
  • Results derived from internal key performance indicators aligned with your company’s hiring objectives
  • Rapid turnaround time in recruitment and hiring

The right staffing service employs the most up-to-date sourcing and screening strategies, as well as advanced interviewing techniques, to deliver the best talent to their clients.

Highlight opportunities for professional growth. Sometimes, employees of big companies get stuck in a position and never see a chance to move forward in their careers. By highlighting opportunities to grow within your company, you can set yourself apart from bigger competitors and increase your appeal to ambitious job-seekers.

During the interview process, drill down into what a candidate wishes to achieve within the next three to five years. In response, says Glassdoor for Employers, offer “specific examples of the types of programs you can offer to help them get there,” along with “a case study or two of an employee who took advantage of that opportunity and is thriving in the company.”

Highlighting your mission, leveraging data about your hiring process and demonstrating opportunities for growth can help differentiate your business from “the big guys” and generate fresh interest in your open job positions.

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