4 Hiring Hacks for SMEs to Attract and Retain Talent in a Tight Labour Market

Think outside the box to turn your hiring headaches into opportunities. Find out how here.

In today's tight labour market, small and medium-sized enterprises (SMEs) are feeling the pinch as they vie for top talent. 

It's tempting to think the old, tried-and-true methods of hiring are the best way to fill those critical roles—after all, if it ain't broke, don't fix it, right? Wrong. 

In these competitive times, clinging to conventional tactics just won't cut it. Innovative hiring strategies are not just useful but essential to attracting and retaining the skilled professionals that can propel your business forward. 

Let’s explore how thinking outside the box can turn your hiring headaches into opportunities.

1. Unleash Tech to Tame the Talent Chase

In the quest to snag top talent, small business owners can feel like they're always playing catch-up. 

Enter technology—specifically, applicant tracking systems (ATS) and artificial intelligence (AI)—which can be game changers in modern hiring. 

ATS and AI aren't just for the big leagues—these tools have become increasingly accessible and helpful for SMEs, too. 

Here’s how ATS and AI can reshape your recruitment efforts.

Applicant Tracking Systems (ATS)

• ATS can automate the sorting of resumes, helping you quickly identify the most promising candidates without sifting through piles of applications.
  
  
• Based on predefined criteria, ATS ensures that only the applicants who meet your specific needs move forward in the process, enhancing the quality of your hires.

Artificial Intelligence (AI)

• AI can personalize communication with candidates at scale, ensuring timely and relevant interactions that keep potential hires engaged.
  
  
• AI technology can predict candidate success, helping you make more informed decisions based on data-driven insights.

With both ATS and AI, you can both expand your reach and significantly enhance the effectiveness of your hiring campaigns. This means less time spent on administrative tasks and more time focusing on what truly matters—growing your business and nurturing your team.

2. Harness Non-Traditional Talent Pools to Cast a Wider Net

In the relentless hunt for talent, looking beyond the usual suspects is vital to your success. 

Non-traditional talent pools offer a rich reservoir of potential that can bring diverse skills and fresh perspectives to your business. 

What Are Non-Traditional Talent Pools?

Non-traditional talent pools include a group of individuals who don’t follow the typical career path but bring a wealth of diverse experience and skills to the table. 

Each group offers unique benefits to your workforce:

• Career changers: Individuals transitioning from one industry or role to another, bringing a mix of skills and experience that can be highly valuable.
  
  
• Remote workers: Talented professionals from across the globe or country who can work outside the traditional office setting.
  
  
• Freelance and gig economy workers: Specialists who prefer project-based or temporary roles, offering flexibility and expertise on demand.

Benefits of Diversifying Hiring Channels

Here’s why and how tapping into these unconventional sources of talent can take your hiring strategy to a new and innovative level:

• Hiring from non-traditional pools can significantly broaden the capabilities and adaptability of your workforce. 
  
  
• Employees from diverse backgrounds often bring new ideas and work methods that can lead to innovation.
  
  
• Access to a broader range of skills and experience that may not be available in the traditional job market can only add to your staff mix.
  
  
• A more adaptable workforce capable of scaling up or down as your business needs change can help you better meet customer demand.

Connecting with Non-Traditional Candidates

Here are practical ways to contact and attract candidates from non-traditional talent pools:

• Leverage online platforms: Use platforms like LinkedIn, Upwork or remote work-specific job boards to reach remote and freelance professionals.
  
  
• Offer flexibility: Highlight flexible working conditions or the possibility of remote work in your job postings to attract a wider range of applicants.
  
  
• Showcase growth opportunities: Emphasize potential career growth and learning opportunities in your job descriptions to attract career changers looking for new challenges.

Embracing these non-traditional talent pools can help you not only fill skill gaps efficiently but also enrich your team with diverse, dynamic contributors who are ready to drive your business success in new and exciting directions.

3. Master Employer Branding to Attract and Retain Top Talent

With the fierce competition for talent, your employer brand is more than just a buzzword—it's a pivotal part of your recruitment strategy. 

Employer branding refers to how your business is perceived as a place to work, influencing not only who applies but who stays. For SMEs, strengthening your employer brand can be the key to attracting and retaining top-tier talent. 

Here’s how you can enhance your employer brand effectively:

• Showcase the unique aspects of your workplace culture—whether it’s your collaborative work environment, flexible hours or employee perks.
  
  
• Use employee testimonials to highlight what your company offers and significantly humanize your brand and appeal to prospective hires.
  
  
• Emphasize any community involvement or eco-friendly practices to attract talent seeking companies that make the world a better place.

Real Examples of SMEs Excelling at Employer Branding

• Bench Accounting in Vancouver builds its employer brand around community engagement and professional growth within the finance sector, attracting professionals eager for personal and career development. 
  
  
• Toronto's Wild North Flowers emphasizes sustainability and local sourcing, appealing to individual’s passionate about eco-friendly floral design. 
  
  
• Levvel, based in Halifax, promotes a balanced work-life approach and a culture of openness and collaboration, drawing tech professionals seeking meaningful careers. 

Each company uniquely leverages its employer branding to attract and retain talent, focusing on specific values such as employee welfare, professional growth and sustainability to stand out in their industry. It might be time for you to make your business stand out.

4. Streamline Your Application Process to Make It about Them

In today’s competitive job market, a candidate-centric application process isn’t just nice to have—it’s crucial. 

To enhance your appeal to top talent, here are three straightforward ways to simplify and improve your application process:

• Reduce steps: Trim down the number of steps in your application to the essentials. A lengthy process can deter potential candidates, especially top talent who may have multiple offers.
  
  
• Provide clear instructions: Ensure that your job postings and application instructions are crystal clear. Ambiguities can cause frustration and lead to qualified candidates dropping out.
  
  
• Create mobile-friendly applications: Optimize your application forms for mobile devices. Many candidates prefer to apply on-the-go, making mobile accessibility a “must” for reaching a broader audience.

By prioritizing these improvements, you can make the application process more accessible for candidates, letting them know that you value their time and effort. This approach can significantly boost your attractiveness as an employer in a tight labour market.

Bottom Line

Adopting an innovative hiring strategy is crucial for SMEs looking to bridge the talent gap. Embrace every hack here to enhance your hiring success and stay competitive in today’s ever-tighter labour market.

Disclaimer