As a business coach, I have helped thousands of business owners grow and scale their companies. And one of the biggest things we look at when scaling, has to do with their labor and talent pool. If you have a solid team behind you, the chance for success is much higher.
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But for many business owners, especially in a growth phase, finding the funds to compete for the most talented employees and win the largest “salary game” can be difficult. So, today I wanted to share with you some perks and benefits that you can offer prospective employees, without trying to win the “salary game.”
Disclaimer: Are you paying your people market rate? While you will never win with money, you need to be in the right neighborhood. If you aren’t paying in market range, you’ll risk higher turnover rate and the costs associated with that.
Share information and value their input: Bringing a team member “inside” by sharing key information is a clear signal that you value and trust them. On a lesser scale, even just sharing mundane information with your team on a regular basis can motivate employees by letting them be “in the know.” It’s a sign of respect. On the same token, it’s important that you listen to and value their input on items both large and small. When was the last time you asked for a team member’s opinion? Or sought their help with a thorny issue? Asking your team for input on how to solve problems or improve the company is a great way to engage your workforce. Just make sure you are serious and not simply paying lip service to their ideas. Your staff can smell insincerity a mile away.
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