Small businesses are beginning to take secrets that were once believed to belong to large corporations.
In the third quarter, we surveyed more than 4,100 decision makers in 31 countries and 14 sectors, including more than 1,800 people responsible for hiring and recruiting budget decisions for small businesses with less than 500 employees. In terms of small businesses, we found that:
They say that 66% of small businesses are planning to increase their attitudes over the next 12 months, more than their larger competitors (60%).
You do not choose the second best – you want the best talent. This is not surprising because engaging with the wrong person can make or break a small business. Their two most important priorities for the next 12 months are hiring highly qualified staff and improving the quality of letting.
You have trouble finding quality staff – why? They say that their three biggest hurdles are competition, compensation and lack of knowledge of their talent pools.
To change the game, small businesses have introduced two major recruitment techniques.
First, our data shows that they favor and track passive candidates (the majority of the workforce is not looking for a new job, but open to discussing relevant opportunities) and almost as fast as their larger competitors. Sixty percent of small companies hire passive candidates compared to 62 percent of large companies.
This is surprising since small companies have fewer resources available than larger companies, and recruiting passive candidates requires more effort than simply posting work on a website and applying for qualified candidates.
Second, small businesses invest in talent development just as the company sees the company as an employer. It’s a wise decision considering that 56% of professionals say that a company’s talent brand has the biggest impact on their decision to accept or reject a job, according to our Q4 2008 survey of 18,000 full-time professionals in 26 countries.