4 tested ways small labs can attract and retain talent
In a competitive business environment, how can small businesses appeal to top talent? For starters, assess your weaknesses and strengths. For example, acknowledge that competing with big labs in the wages and benefits department is going to be hard to beat, but always remember that there are many advantages to working in small labs. By playing up your strengths, you will attract the right talent for your business.
Focus on your business’ mission
It’s important that potential employees are aware of what your lab stands for. This stage is important when it comes to recruitment because it is a great way to make them feel closer to your company than the big ones. Showing them your lab’s mission will give them the opportunity to notice that your business is more than an establishment that makes profit, but a place of growth with a sense of community.
Offer better work-life balance and more flexibility
Small labs are typically less bureaucratic and have a closer relationship between leadership and employees. For that reason, offer full-timers a minimum two-week paid vacation plus personal days – your employees will appreciate a boss who they can turn to when they need to take days off for personal reasons. By creating a work-fun balance environment, you can come out way ahead of the corporate giants.
Add competitive compensation to their benefit package
If your lab cannot afford to offer full health insurance benefits, there are other ways to balance it out. Think outside the box - Telehealth is a cost effective benefit package ($9.95 a month) that allows employees to receive medical advice over the phone or video from the comfort of their own home, or lab! It reduces the chances of staff having to take half a day off sitting in the doctors office, a win for both you and them.
When it comes to the money, offering a competitive wage to all your employees (even your entry-level staff) is obviously going to attract better staff. Yes, that's not always possible in smaller labs BUT if you can pay your staff a higher wage it will show the value you hold in them. Higher-paid personnel are likely to stay longer. Furthermore, when recruiting, highlight the fact that there’s room to grow and thrive in your lab. The possibility of growth can be very appealing to potential employees as their personal fulfilment can be achieved.
Highlight your strengths
When hunting for new talent, give them a taste of how it would be like to work for you. You can get help by getting your current employees talking to the new recruits. Highlight the fact that working for a small lab, like yours, feels like being part of a family. Show them that they will have the opportunity to learn about the whole process of the business.
In today’s competitive market, hiring and retaining talent can be challenging, but you can make your lab as attractive as the big ones. Remember to be aware of your strengths and weaknesses.