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STRATEGY

What do you think the most important trend affecting small business will be?

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Human Resources mentor Robert Hoffman responds to the following questions:

What do you think the most important trend affecting small business will be? How best can owners position their companies to take advantage of it?

Robert Hoffman's response:
According to Electronic Recruiting News, for the 15 years beginning in 2000, the number of 25- to 44-year-olds in the economy will decline from the 1999 peak. The decline will be steep, as there will be 15% fewer workers in this important age group than we have today.

Attracting and retaining the right skills, can be accomplished by practicing the following techniques:

  1. Determine the singular most compelling reason to join your company. Carve a recruiting niche similar to a product niche. Make sure everyone in your industry and geography knows the reason to join your firm. Determine what makes your business different from the rest and sell the concept to recruits, relentlessly.
  2. Use a skills assessment in the targeting and selection process. For example, if you need creative marketing plans, have candidates produce marketing collateral for you during the assessment process. Merely having the ability to describe marketing plans is not enough. Require specific examples.
  3. Develop networking relationships to identify the talent you seek.
  4. Treat your potential employees as customers. Return calls, get them excited about the position and company and use them to enhance the reputation of your business in the community.
  5. Create innovative attraction tools designed to promote retention, such as sabbaticals after five years of employment, subsidizing graduate degrees, or other non-financial incentives.

Related Resources:
Six Ways to Position Your Company for Success

Copyright © 2001 inc.com LLC

Last updated: May 16, 2001




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