High employment figures have upped the competition for small companies across Britain, according to Indeed
It’s tough to steer any business towards the horizons of success when your ship doesn’t have a big enough crew. And amidst record-breaking employment figures, the likelihood of reeling in new employees proves difficult for nearly all small businesses in the face of titanic rivals.
Speaking to 1,006 owners across Britain, Indeed, the job site, discovered a whopping 81% of micro-business bosses – companies with fewer than ten employees – find it more difficult to attract workers than their larger rivals do. In total, 34% found it difficult to find the right candidates.
The primary reason for these recruitment struggles seemed to be that jobseekers feel that SMEs lack of job security, which 59% of small-business owners said held them back from filling their positions. This was followed closely by 49% who think weak brand recognition might be smudging their chances. However, fears of low pay sit at the back of minds with 26% citing salary expectations to be an issue.
Commenting on the findings Bill Richards, UK managing director at Indeed, said: “Our research suggests many small businesses feel the odds are stacked against them in the battle for talent. While larger firms will always have a head start in terms of brand recognition, popular misconceptions that smaller companies offer less job security or fewer prospects for career progression are also taking their toll.
“It’s crucial that smaller employers address candidate concerns right through the hiring process, from the wording of the job ad to how they tell their company story or approach interviews. It’s crucial to spotlight the benefits that working in a smaller company can offer employees, such as being part of a close-knit team and having a greater sense of autonomy on projects.”
While national employment has hit new highs the competition between companies to attract workers has become fierce. Small businesses especially need to start selling themselves just as much as their prospective candidates to stay afloat.