Attracting New Talent to Your Business

Even in a pandemic it's important to find the right talent for your business.  If you're having a problem finding and hiring the right talent for your business, you're not alone. The economy looks good right now and that means many businesses maybe having a hard time finding and retaining their employees. To find an employee that fits your company, you need to offer a competitive salary, and equally important is to offer employee benefit. This will help attract those top employees you want on your team. If possible, consider offering some or all of the employee benefits below.

Healthcare and dental. No matter what the age, potential employees are looking for affordable health and dental insurance, especially if they have a family. Research other employers in your industry and see what they offer their employees. Then, look around to see if you can offer a similar or a better plan with low deductibles and good affordable coverage.
Education reimbursement. Investing in an employee’s future will benefit both of you. You get an employee that wants to learn more about the job and they have the opportunity to advance their career within the company.


Relaxed dress code. Most places of employment are more relaxed and flexible when it comes to their dress codes these days. Of course, there are always certain businesses in which wearing business attire or a uniform is just part of the job. However, being flexible won’t cost you anything and when your employees are comfortable they tend to be more productive.


Remote work. Some employers find it more cost effective to have employees work from home. This gives employees more flexibility with their time and saves on the cost of commuting. Depending on the business, it may also save the employers money because they no longer have to maintain the costs of office space.


Retirement plan. Offer your employees a 401(k) plan with low fees and a good mix of investments. Offer to match a percentage of employee contributions.


Sign on bonus. If you find there is a certain employee that you want to attract, a sign on bonus may be just what you need to set you apart from your competitors. However, you will need to structure the bonus in a way to protect yourself. After all, you don’t want the employee to take the job, get the bonus, and then quit.  Or, maybe the employee isn’t a good fit and you have to terminate. In the contract, include a time frame. For example: If the employee leaves or is terminated before a 1 year time period, they will have to repay a portion or all of the bonus. 

It can be a tough market out there even in a good economy. Offering a benefit package will improve your chances of attracting the right employees. At Summit CPA we offer multiple resources to get your business on the right track. Contact our office at (866) 497-9761 to schedule an appointment with our advisors.