5 Talent Management Strategies for Small Business Owners

During this past year, reports have shown that many CFOs and small business owners have kept their operations in a holding pattern while they grapple with concerns about the economy, regulatory issues, energy costs and changes in healthcare.

But with the new year comes renewed optimism about making plans to expand your small business. Building stronger accounting and finance teams requires effective talent management, so you have the right people in place to move your plans forward.

According to a Robert Half survey of small business owners and managers, 60 percent said their biggest hiring challenge was finding skilled talent. Here are five talent management strategies for finding and hiring the best people to take your company’s financial management to the next level:

  1. Curb appeal: To attract top talent, you need to make a great first impression. Begin with an in-depth assessment of your online presence. Does your website portray your company image in the best light? Is your site mobile-friendly, so it’s easy for candidates to visit and apply for open positions using their smart phones and tablets? Do you have business pages set up on multiple social media platforms? Are your pages engaging and up-to-date for both customers and prospective employees?
  2. United we stand: As public ambassadors for your small business, you and your talent management team must present a unified front when communicating what makes you stand out from other employers in your industry or region. What long-term value can you offer to employees in exchange for their personal dedication to growing your business?
  3. The right stuff: Take time to zero in on the specific skill sets you need to achieve your growth goals, and then make sure each of your job descriptions accurately conveys the qualifications required to do the job, as well as your specific expectations for each responsibility.
  4. It’s who you know: Networking and referrals are a big part of talent management. Become more active within your community organizations and trade associations, and take advantage of social media connections to expand your base of potential candidates. Develop a referral incentive program for employees and colleagues, and don’t forget to reach out to your local recruiting agency for leads.
  5. Phrasing is everything: Once you have some strong candidates in mind, ask them to recall specifics about their goals, skills and experience in finance and accounting. Listen for indicators that suit your growth goals. Get creative with some of your interview questions to gain insight into each candidate’s integrity, work ethic, and business philosophy.

Contact your local Robert Half office if you need specialized recruiting help. We’re here to make finding skilled finance and accounting professionals easier for small business owners, so you can focus on other core strategies to grow your sales and profit.

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