If you’re staffing on a tight budget, you might feel like the most talented of the job market is out of reach.
Competitors with more money to spend might be able to entice potential employees with more pay or better benefits. Chances are, they’re able to pay for stellar hiring services. Staffing on a tight budget doesn’t mean being in a tight spot.
3 Tips to Hire on a Tight Budget
A smaller budget doesn’t mean you can’t find star talent.
It means you have be creative!
Find ways to maximize the resources you do have. Following these tips will ensure that you stay within your budget, and not make the expensive mistake of hiring the wrong employee.
1) Know when to Outsource
When staffing on a tight budget, sometimes adding another employee to payroll isn’t the best option.
Instead, consider independent contractors who have the specialties you need at your company. Many companies find great success in outsourcing certain work.
In addition to bringing these workers on quickly, they also don’t have as much risk if the hire turns out to be temporary or unsuccessful.
Contract workers can be very cost effective while also bringing talented workers to the company.
2) Offer competitive Non-Salary Benefits
If you’re unable to pay the top salary, don’t worry. There are still ways that you can attract top talent.
Consider offering competitive non-salary benefits like child care support, flexible hours, remote working schedules, transportation or technological allowances or extra personal time off.
The investment in these services may seem difficult when staffing on a tight budget, but long-term they offer more profit-increasing benefits than you think. Flexible hours give works the ability to maintain a work-life balance. On site child care means parents aren’t rushing to pick up kids. Extra personal time means care of mental health and overall peace of mind.
All services benefit the employer.
3) Utilize Existing Employees
One of your best resources for finding new talent is to turn to your current employees.
They might know of motivated and qualified peers who would love to work at your company. Plus, you can offer simple incentive programs to motivate your own employees to help recruit valuable workers.
Leverage your team to staff only the best hires. The ability to negotiate with an individual already aware of your company’s needs, may work out positively for everyone involved.