A Sure Fire Way To Get Good Employees

Written by LauraRenner Published in

Thought Leader Blog Post

Recently, I’ve spoken with a few business owners who are considering positioning themselves as gateways to bigger companies. What do I mean by that? Consider this case study in a textbook I once read (I recognize not all case studies are real but the point still resonates):

There was a manager at a resort and spa in a very rural part of the country. His turnover rate was exceptionally high, far higher than the industry average. He had no budget to offer higher salaries (and we all know that doesn’t really work anyways). Eventually, this manager discovered these grads were leaving him to go work for the bigger name resorts. They were getting superior training while working for him, which enabled them to get hired into these more lucrative resorts. He decided to consider the high turnover as a blessing. He formalized the robust training program and recruited the college grads with the message they would get phenomenal training and then be able to get jobs pretty much wherever they wanted. Over time, the big resorts recognized this and actually came to his resort to recruit (amicably, of course). This manager turned his resort into a gateway. He was able to keep his hotel and grounds staffed with good employees and embraced turnover as a way of life.
Have you been considering this for your business? Two business owners I’ve spoken to recently are. One is recruiting for a position that has a 1% unemployment rate. Needless to say, he is having trouble finding not just the right talent, but any talent! Now he is targeting more intermediate level people with the promise that he will pay for their certifications. They will get the experience of wearing many hats in a small business and experience in their particular field. After two years, he is anticipating they will have the experience to be able to get lucrative jobs with the giants in the industry.
Another business owner is just getting started. His business model is one where companies outsource the accounting function to him. He is planning to hire recent college grads that have the desire to work in finance, but don’t necessarily want to go the audit route of the Big Four. He is planning to target them with the appeal of learning to do real accounting (not just from an auditing perspective), learning how to make decisions and recommendations when it comes to company finances and pushing them out to the clients. He anticipates that as the client companies grow, they’ll want to bring accounting in house and will want to hire as a Director of Finance the person who has been working on the client account the whole time.
I think this is a fantastic technique to try in your company if you are having trouble competing against the bigger players in your industry. If you decide to try it, be sure to have a deliberate training program. Let us know how it goes! If you already implemented, please share your results.  

Thought Leader, Laura Renner, helps business owners make smart hiring decisions by getting them to hire with intention. She works with businesses on developing their hiring strategies and systematizing their hiring processes. Laura believes that surrounding yourself with people who are going to make you better is the only way to ensure you're maximizing your life.


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