If you run a Las Vegas small business, chances are you’ll be in the market for “staffing up” in 2014. But, will you be able to, and still keep your business afloat?
2014 Small Business Hiring Trends
According to experts, small companies with less than 100 employees are very positive about this year in business. This just may mean more hiring in 2014.
It appears that about seventy percent of small businesses have optimistic feelings about the future of their companies and the economy over the next 12 months. That’s a 55 percent increase from this time last year, per a SurePayroll Scorecard dated January 2, 2014.
Fifty percent of owners forecast business growth early-on this year. On the other hand, only about 12 percent expect to see a drop in business during the early months of 2014.
When you look at the positive side of things, it appears that there just may be more small-business-hiring of full-time employees this year, says Michael Alter, President of SurePayroll.
Is Your Small Business Prepared for Recruiting Competition?
Bill Werksman of Resource Partners, a staffing firm in Las Vegas, agrees that the mood for recruiting will strike small companies in 2014. Werksman says that this is especially true in the local Las Vegas, Nev. area. Why? Well, many service-related companies are doing better than they did last year, economically. They seem to be experiencing an upward-climb in terms of revenue.
Yet, the question remains, is your small business prepared to compete for employees that will help your company grow?
Well, it’s not always easy for smaller businesses to stand-out above bigger companies when competing for quality workers. Benefits such as employee cafeterias, stock options, insurance coverage and retirement plans make working for larger corporations seem more appealing to job searchers.
They also have much greater chances of remaining in business during recessions. This can be very appealing to most potential employees. But, don’t let this discourage your smaller firm from taking on a head-to-head competition for a quality job candidate.
Employer Advantages for Smaller Companies
There are definitely some advantages to being a small business. Knowing the details about those edges and how to utilize them when recruiting is one key to winning great candidate. Here are some tips for reeling in the best employees for your business in 2014:
- Take advantage of the fact that possible 80 to 85 percent of US employees work for small businesses, by choice. Big corporations aren’t for everyone.
- Even if your workplace is a casual one, use a more formal-approach when recruiting new employees. This means knowing the exact skills your company needs in a new employee. This will help you write more effective job descriptions.
- Gain an understanding of just how your Las Vegas company can differ from a larger operation. Sit down and come up with ways to “market” those differences during the interviewing process. This is especially important when target younger workers. Most aren’t looking for a job they can retire from in 20-30 years. They simple want their work to make a difference of some sort, says UNLV Startup Center director, Justin McVay.
Flexibility is Key Intangible Benefit
Smaller companies tend to have more flexibility than big businesses, who live by the rules of their corporate “playbooks.” These rules dictate everything from holiday pay to vacation time. Smaller firms have more leeway when it comes to on-the-job perks like paid time-off, telecommuting positions and flextime.
Some even participate in employee-encouraged programs such as casual Fridays or bring your dog to work Mondays. Very few huge corporations would even consider entertaining these types of perks.
Workers at smaller operations are also less burdened with bureaucracy hierarchies, often having direct access to the CEO, owner and/or other key company authorities. This type of leadership access comes with daily opportunities for employees to make big differences within the company.
Small Businesses Will “Staff Up” This Year
These days, many younger jobseekers have future plans to become entrepreneurs and business owners themselves. They aim to work for small companies not only for flexibility, but for opportunities like on-the-job learning, business management skills and relevant networking.
With the right tools, your Las Vegas small business will have what it takes to “staff up” in 2014. It’s just a matter of understanding what makes your smaller company a better place to work than local big corporations. Then, you need to market your small business as the local employer Las Vegas jobseekers will love.