One of the main issues that many small business owners face is the struggle to give their businesses that extra push to take them to the next level when it’s the right time.
And the reason behind this is very much down to not having the time to be able to focus on every aspect yourself and not believing you have the available finances to be able to hire additional people to assist with the development of the business.
However, hiring people to help grow your small business is actually much more of a possibility than most people think and it’s down more to making the job vacancies as attractive as possible by offering things other than a competitive salary, with the following points being perfect examples of just what else you could include.
1. Provide a staff discount
If you offer a product or service that isn’t in an industry or commercial area (i.e., your small business is a retail one selling baby clothes), you could consider making your job positions as attractive as possible by offering a staff discount.
Calculations will need to be made to ensure that the discount doesn’t mean products or services can be purchased by staff in a way that would see them being sold at a loss to the business, but a staff discount is one of the most popular ways of making positions more attractive to potential employees.
2. Pay for extras
It’s important that you check out your local tax laws on this point, but in many parts of the world you’ll be able to claim staff expenses as expenses to the organization as a whole.
This means that if you provide a package to your employees which states that you’ll cover extras and expenses such as fuel and lunches, this will not only make the position attractive to the employee, but it will mean you will pay less tax as an organization, due to having a greater amount of outgoings.
3. Offer shares
If you’re truly wanting to invest in your small business and believe that the hiring of a certain person or for a certain job role will benefit the growth tremendously, it could be worthwhile considering offering shares as part of the package.
There is a lot to consider here, as the person receiving the shares will be entitled to a percentage of the business’s profits and assets, but it can make the position an extremely attractive one, enticing in people who may have otherwise looked over the role.
Growing a small business is one of the hardest things to do as a small business owner. No matter how much you think you can do yourself, you’ll need help at some point and the information here shows just what you could do to make the job vacancies you have available as attractive as they can possibly be.
This post was originally featured on September 27, 2011.