How Can Small Businesses Attract Top Talent In A Competitive Market?


When it comes to how challenging the hiring market is for small or medium-sized enterprises (SMEs) right now, the data doesn’t lie. We know from research that about 70% of SMEs have been unsuccessful in filling roles in such a tight labour market. There are a few reasons SMEs are finding it so hard to secure staff. The first is the number of jobs being advertised. There has been a record number of job ads on a particular job agency over the past year. SME job ads have increased 19.5% in the past 12 months. And since pre-pandemic times of September 2019, SME job ads on the platform have skyrocketed 102%, compared to 42.5% for job ads from all business types. One thing SMEs can do is look at benefits they can offer other than money. Another is that fewer candidates are applying for roles – the pandemic has left many Australians more inclined to stay where they are, as well as causing a decrease in the number of foreign workers looking for jobs. What are your thoughts LiveTribers? How can small businesses attract top talent in a competitive market?

Posted by on 21 Dec 2022

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  • [0] [0]
    tassiegirl

    Life is too short to be unhappy. Employees who have a good amount of experience are in high demand. Trial any employer (especially a small business). Then you can see if they are happy and you are happy. When I last checked, there was 594 families wanting child care within 50 kilometres. If you need work, you can check out www.care.com. I got work through that. I didn't pay any fee to join them. They have work there for gardening, housekeeping/ cleaning and baby sitting. You can pick and choose the work you want.

    Posted by tassiegirl on 22 Jan 2023
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  • [0] [0]
    tassiegirl

    I am working for a great small business now. They pay me well and treat me well. They are flexible with how I work my hours. I now have regular well paid work which is great for my family and I. I do go there to work, but it is only a 15 minute drive.

    Posted by tassiegirl on 22 Jan 2023
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  • [0] [0]
    Mark

    Step 1 is for the SME to be realistic. If they cannot meet the market for pay and benefits, then their market is immediately shrunk compared to the big players. They also have to realise that some of the germs for recruitment in some areas are placed at the uni or college level inciting a degree of desire to work for larger firms, well before SMEs get involved. SMEs need to get in at an earlier stage, even offering casual positions, to secure their interest and to develop a sense of what is really on offer to reduce the impact of bigger companies.

    Posted by Mark on 15 Jan 2023
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    Jay

    Giving them max freedom they can with rules, so they can put their talent into good use

    Posted by Jay on 12 Jan 2023
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    Miro

    I think it's also a chance to really learn a lot about a whole business, and develop more skills. In large companies, an employee can be stuck in one role. In a small business, everyone needs to pitch in.

    Posted by Miro on 11 Jan 2023
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    Yury

    It all comes down to salaries, benefits, and working hours. If an SME company decides to pay 10% extra than the market average, filling roles wouldn't be an issue anymore.

    Posted by Yury on 06 Jan 2023
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    samsterchan

    Flexible hours, remote working and online training are key factors

    Posted by samsterchan on 06 Jan 2023
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  • [0] [0]
    Paul

    maintaining a flexible working arrangement or having a hybrid office and home working style helps to retain staff.

    Posted by Paul on 01 Jan 2023
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  • [0] [0]
    Caroline

    Flexibility, treating your employees fairly and equally. Recognition for a job well done.

    Posted by Caroline on 01 Jan 2023
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  • [0] [0]
    yelsha42

    Better pay, conditions and flexibility

    Posted by yelsha42 on 01 Jan 2023
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  • [0] [0]
    Tara Rata

    Working with both the employer and employee to come to an agreement that suits both parties

    Posted by Tara Rata on 01 Jan 2023
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    pinky princess

    It is quite difficult to attract top talent in small business unless you are able to provide a very good salary and benefits. The younger generation no longer just want a job - they feel they are entitled to all the perks that it used to take years for older workers to earn and small business with cash flow problems just cant afford some workers

    Posted by pinky princess on 01 Jan 2023
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  • [1] [0]
    Sally

    Agree completely and it is especially difficult for small retail/hospitality businesses that cannot offer work from home options as they need staff to physically work in their stores / cafes / restaurants to attract and retain staff. One solution is a tax incentive could be offered to staff to encourage them to fill non work from home roles. Those able to work from home enjoy massive financial and personal benefits by not having to incur travel costs and the loss of personal time by commuting each day. So it makes sense to even the playing field with some sort of tax benefit for those whose job requires them to physically work at the workplace.

    Posted by Sally on 06 Jan 2023
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    Blank Jim

    Bury, once and for all, the term "Work/Life Balance". In my experience, the employers who bray loudest about this are the ones least likely to allow any kind of flexibility.

    Posted by Blank Jim on 01 Jan 2023
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    betsy303

    offer some sort of security, with everyone being layed off with covid, people are now in need of some security in their job..

    Posted by betsy303 on 01 Jan 2023
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  • [0] [0]
    Kristina

    Flexible working arrangements and more benefits for employees.

    Posted by Kristina on 01 Jan 2023
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    TonyLT

    Flexibility is now very important, such as allowing remote working for jobs where working from home is possible, and more benefits such as leave or gym entitlements

    Posted by TonyLT on 01 Jan 2023
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    Natalie

    I work for a very large company where everyone complains and no one wants to be there. I stay because it's stable work. They expect more hours than I was employed for every single day and it's a fight just to leave at a reasonable time. Providing happiness, flexibility and perks would be the go.

    Posted by Natalie on 01 Jan 2023
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    Ultrapac

    Flexibility and develop a reputation for loyalty.

    Posted by Ultrapac on 01 Jan 2023
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  • [0] [0]
    Seshachalapathi

    Yes flexibility is the key when trying to attract some talent to an organisation.

    Posted by Seshachalapathi on 01 Jan 2023
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    Jamaine

    Try with 4 day working weeks and offer abit more money per hour because everyone is doing it hard with the cost of living going up as well as the petrol prices as these factors will affect any potential employees

    Posted by Jamaine on 26 Dec 2022
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    Dominic

    Trial and error

    Posted by Dominic on 01 Jan 2023
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    ace bowler

    Small business must get a bigger seat at the political table or create their own parallel political structures. Currently large corporations and the media are defacto partners with totalitarian western governments (which keep telling us they are the protectors of democracy). Pandemic lockdowns, Climate change policy and now manufactured inflation policy decimates small business and we are told it is the fault of a 'deadly' virus, carbon emissions and Vladimir Putin. Any excuse to push the agenda on its merry way. Keep supporting small business whenever and wherever you can!

    Posted by ace bowler on 24 Dec 2022
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    tassiegirl

    How they deal with threatening customers is very important to me. I have found some places are totally unable to deal with this in the right way. I was let go after 3 weeks after reporting a customer who was swearing at me. This is the 6th year of working there. I don't want to work there any more as I was threatened previously. Large and medium businesses should definitely be on top of this. We can pick and choose work. I don't want to be treated very badly any more. We all deserve much better than this.

    Posted by tassiegirl on 23 Dec 2022
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    Hispania

    Offer a 4-day week with the scheme having been thoroughly worked out so that productivity increase can be demonstrated and there are documented comments from current employees on the way the scheme has benefited them including some honest discussion of mental health benefits. Some data on current employees detailing promotion records, length of service, their reasons for staying as well as demonstration of opportunities for employee growth through secondment etc.

    Posted by Hispania on 23 Dec 2022
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    Market guru

    by offering good working conditions and long term job security with room for advancement to higher positions when available.

    Posted by Market guru on 23 Dec 2022
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    sundays

    I think smaller businesses need to extol the benefits of working for an SME rather than a multi national or large corporation. Small business has a more personal approach to staff I believe. I know of many that have long term employees.

    Posted by sundays on 23 Dec 2022
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    Tara Rata

    Absolutely! It's all about attracting the right people for the job

    Posted by Tara Rata on 23 Dec 2022
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  • [0] [0]
    apeattie

    Pay a competitive salary and allow flexibility such as work from home sometimes.

    Posted by apeattie on 23 Dec 2022
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  • [0] [0]
    Turbotom

    Ultimately it does come down to money with inflation etc you have to pay the bills and want to be paid fairly so if you can get better pay elsewhere that’s where people will go

    Posted by Turbotom on 23 Dec 2022
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  • [1] [0]
    Tedskeeeeez

    It's so difficult at the moment, all you can be is completely honest, supportive, encouraging and focussed on their development, respectful and interested in them as people.

    Posted by Tedskeeeeez on 23 Dec 2022
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    Michelle

    Be supportive to mental health. My husband works for a company that is really good at coming up with ways to take care of the staff. i'm astounded by the way they treat the staff.

    Posted by Michelle on 23 Dec 2022
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  • [0] [0]
    tassiegirl

    I forgot to add being close to home or working from home is a big advantage, with high petrol prices. Flexibility with hours, so that people can balance their life as parents.

    Posted by tassiegirl on 23 Dec 2022
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  • [0] [0]
    tassiegirl

    Treat employees fairly and with respect. Offer a reasonable hourly wage. Offer people to work from home if it is possible. Offer freelance workers and casual workers the option to do permanent part time work. 1.2 million Australians changed their job in the last year. The youngest people were most likely to change their job. 60% of those working are considering changing their job. Many people are feeling burnt out after all the lockdowns and it is causing people to re-evaluate their careers and what they do. They are weighing up whether it is worth it.

    Posted by tassiegirl on 23 Dec 2022
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    HappyShopper

    A fair wage, where possible be flexible on starting hours, and allow work from home a few days a week if possible. The occasional morning tea goes a long way.

    Posted by HappyShopper on 23 Dec 2022
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    Reznor

    offer something you will honour good hours good pay less stress

    Posted by Reznor on 23 Dec 2022
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    Rainbow Flamingo

    You need to be able to offer a work/life balance, competitive salaries, weekends & holidays off to spend with family. Non compulsory overtime and pay bonuses for the staff who continuously work overtime to benefit your company. Be family friendly, don't make employees feel like they'll lose their job, if a family member is sick.

    Posted by Rainbow Flamingo on 23 Dec 2022
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    anniet

    Some businesses may be in a position to offer a 9 day fortnight or even a Friday afternoon earlier knock off time to attract the best people. A gym membership may be attractive to some. Give options.

    Posted by anniet on 23 Dec 2022
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    Brian

    Employees need buy in …to feel their contribution is rewarded…many organisations only reward senior players with attractive bonuses…where staff get if they are lucky a Xmas Hamper…!!\ link profits to bonuses for all

    Posted by Brian on 23 Dec 2022
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  • [0] [0]
    Busy Bee

    Offer profit sharing on top of salaries.

    Posted by Busy Bee on 23 Dec 2022
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  • [0] [0]
    Maryam

    Better salaries, benefits and chance to get promotions can be used to attraction for the small businesses.

    Posted by Maryam on 23 Dec 2022
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    Jibberman

    people take the easy way out and join a big company to blend in. it needs a special person to push themselves for a smaller enterprise.

    Posted by Jibberman on 23 Dec 2022
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    merryl

    Higher salaries and better benefits help to attract top talent, but there are few pathways for promotion in SMEs. Opportunities for promotion are much better in larger companies.

    Posted by merryl on 23 Dec 2022
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  • [0] [0]
    Ally42

    Benefits would be great, but it is mostly important to offer competitive wages/ salaries, better working conditions and flexibility/ good work life balance.

    Posted by Ally42 on 23 Dec 2022
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    ere

    The worm has turned. Previously many small businesses could get away with paying very low wages for crap jobs with long tiring hours. Now that migration has slowed small business owners will have to realise that they will now have to pay decent wages combined with reasonable working conditions because they won't find many people willing to be slave labour anymore.

    Posted by ere on 22 Dec 2022
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  • [1] [0]
    Paula

    It depends upon the person and the job. Some people only want big money while others want a job they enjoy or quality life. One of my sons was recently offered a large salary for a job he refused because he didn't like the product and he felt with such a large salary his free time would never be his own.

    Posted by Paula on 21 Dec 2022
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  • [1] [0]
    Carol

    Have a smiley face, excellent working conditions and reasonable wage

    Posted by Carol on 21 Dec 2022
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  • [0] [0]
    mact

    Actions speak louder than words, yes.... verbally check references and testimonials but the proof is in a limited tenure trial period where the newbie is challenged with appropriate support and achievable key performance indicators.....simple!

    Posted by mact on 21 Dec 2022
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