Whether you’re basing your budget on last year’s expenditures or planning every budget item from scratch, it’s important to review different HR needs so that you don’t come up short in the places where you need extra funds. Here are some key HR items that you should consider when planning a yearly budget.
If you think it’s hard to find good talent these days, you’re not alone. The Society for Human Resource Management conducted a survey of more than 3,300 HR professionals and found that “more than two-thirds of surveyed organizations hiring full-time staff indicate[d] they are having a difficult time recruiting for job openings.”
Thanks to a combination of factors, hiring employees that truly fit your requirements can be a tricky process. SHRM’s Jennifer Schramm cites “a low number of applicants, lack of needed work experience among those that do apply, competition from other employers, and a lack of technical skills among job applicants” as obstacles that employers face these days.
When it comes to finding the right applicant for the job, it’s important to know where to look. Here's where you should consider looking to find the quality talent your business needs to grow.
Most entrepreneurs start a business based on something they are passionate about. For the majority of auto shop owners, their dream started working on cars. When that passion turns into a business venture, it quickly becomes apparent that running your own auto shop requires more than just a love of cars.
Leading a group of people, keeping systems in place to track hours, and tracking employee history are just a few of the tasks that shop owners handle on an everyday basis. Owners have enough on their plate in handling day-to-day business, but the work is not done when the shop closes. Here are some of the most common HR issues facing these small business owners.
In the recruiting world we have heard it all before…
- “I don’t want to post a compensation range because everyone will expect the high end.”
- “I don’t want my current employees to know what others are paid.”
- “I don’t want my competitors to know our salaries.”
- “Other postings online do not include a compensation range, so why should I?”
Although these are common thoughts for all business owners, it can be directly affecting your candidate pool numbers. In fact, SMART Recruit Online found that job advertisements with a compensation listed increased the total number of candidates by 30 percent. Small and mid-sized companies are at a disadvantage by not posting a wage since larger companies have known salary and hourly rates.
Take off the Recruiter Hat
Life-work balance for small business owners begins with self-control. Owners say they have too many roles to play but stubbornly hang on to them all. Sooner or later, owners like you have to give up something. I would start with recruiting.