The challenge of hiring talent that will help your organization to grow to the next level when you currently have a limited budget, but big potential is a growing pain experienced by most successful small businesses at some point. By deploying some clever tactics, it is possible attract the best talent without the competitive package that the bigger companies are able to offer. In this article, we will discuss various recruiting approaches.

The last few years have seen surges and drop offs in the availability of technology jobs. It feels as no sooner had the industry gone into panic mode trying to plug the tech talent gap, than the big tech companies conducted mass layoffs, leaving tech companies wary and tech talent starting to panic. While the tech layoff may have been a shock for the estimated 160,000 employees affected, it shouldn’t be seen as an indicator of things to come in the wider tech industry, and it most certainly isn’t bad news for medium, small and micro businesses.

Taking advantage of the tech layoff

If you are a small business with big ambitions and looking for talent to match, then now may be the perfect time for you. Thanks to the massive layoff, there is a wealth of tech talent out there with extensive, big tech experience, as well as (most probably) a pretty respectable severance package. This means that, for the first time, these people may be in a position to take on a “riskier” position with a start up or growing organization that would not be able to afford the competitive salary that is the industry norm for that position and level of experience. 

Reward success for recruiting

As a small business, you may not be able to offer the same benefits for your tech jobs as the bigger players. However, there are things that you can offer that larger organizations can’t. While you may only be able to offer a basic salary, there are things that you can do to reward your growing team whilst promoting a culture of hard work and collaboration. Bonuses and target related pay are a great start; offer your staff a basic pay package with the assurance that it will rise in a specific way as and when the organization meets growth and income markers. This collaborative reward approach helps your team to work each other, pushing and supporting every team member to achieve their best for collaborative reward. 

Focus on the “free” benefits

Not all benefits have to cost a huge amount of money. In fact, when asked, most full-time workers would rather take a salary cut in return for flexible working or longer holidays. You may have a set annual budget for your new talent, but you can be flexible with it. The term may be full time, but longer holidays, hybrid working – or even a four-day week – could all help to sweeten the deal while keeping your team happy and engaged. This, in turn, will boost your reputation as a great employer, which will see more high quality applications in the future. 

Make them stakeholders

Another way to entice tech talent with a limited budget is to offer a stake in the business. Nobody works harder for a business than one that they own, or part own! This model may not be sustainable in the longer term, but for a startup it can be an effective way to get experienced staff.

Promote internal mobility

Recruiting is not cheap. In an ideal world you will do it once, and do it well, to prevent additional recruiting and HR costs. Encouraging and enabling internal employee mobility is a great opportunity for smaller businesses to capitalize on the talent that they have and save on recruitment and onboarding costs. If you are a micro business and need a pair of hands now, it is great if you can find a reliable administrator, but if you can find an admin with the potential and desire to develop within tech, even better! Don’t just look at how a person fits into your organization now, imagine how they will fit in the future, too.

Capitalize on your reputation for recruiting

It may be OK for the bigger companies to have reputation as hard ballers, or hirers and firers, but small organizations quite simply can’t afford that luxury. As a small business, your opportunities for success are as good as your reputation. Treat your staff well, and make sure that your honest and hardworking approach is widely shared and celebrated within your industry and your geographical locale. By nurturing your reputation you can make your company a place where people want to work and, when it comes to finding a tech job that will last, people are much more willing to make short term compromises on salary.

Don’t try to compete with the big guys

If you are looking to fill a specific job in tech, it can be disheartening when you look at the range of jobs and benefits out there, only to realize that you just can’t compete. Don’t try to compete with the big companies. They have their own packages to offer, just as you have yours. You may not have the big money (yet), but you have the big personality, the long term prospects, the small touches (family barbecues, birthday cake, paid holiday, bonuses) that, when combined, can have a greater impact on work-life balance and the enjoyment of work than a few extra dollars in the bank.

Advertising for recruiting

Who sees your job adverts, and where, is an important factor when recruiting. While smaller businesses may think that they can’t afford to spend out on ads and recruitment companies, it is often something that they can’t afford not to do. Find a tech recruiter that understands your organization and wealth of growth opportunities that you have got to offer the right candidate and let them focus on finding the right talent while you focus on nurturing your business.

If you are faced with the prospect of recruiting on a budget – congratulations! Not only is your business clearly a success but you have the exciting opportunity to employ somebody who will help you to take it to the next level. Don’t forget your worth, and what you have to  offer to your team.