If your business has committed to a new project that requires hiring new people, and you are finding it difficult to find quality employees, you are not alone. A nationwide hiring shortage has resulted in a job seeker’s market—there’s a lot to choose from, so people are being really selective.
At a recent job fair in Wisconsin, the CEO of one of the companies represented noted that “we have representatives here from companies that are offering signing bonuses, new benefits, flexible hours and more. It’s definitely a job seeker market and I think that’s a real advantage for anyone looking for a new career right now.”
Attracting the Best Candidates
Fahrenheit Advisors, which provides guidance to companies across all industries to help them find the right talent, recently published a blog post containing the following six tips to attract the best candidates:
- Enhance your job posting
- Prepare for the interview
- Embrace video interviews
- Set a positive interview tone
- Show empathy
- Be prepared for competing and counteroffers
Many of those items do not require a monetary investment, but the very important last one certainly does — and that’s when you may find yourself in need of an infusion of cash.
Sweetening the Pot
If you are serious about landing the best people for your job openings, you may feel you need to offer a higher starting salary/hourly rate than planned or provide new perks. We often see businesses looking for capital to offer new-hire benefits like:
- Car allowances
- Medical/dental/vision insurance
- Signing bonuses
- Wellness programs
If all that’s standing between you and the new employees you need are the funds to be able to make more attractive job offers, you owe it to yourself to investigate funding options like working capital loans or lines of credit. Not sure you will qualify for a bank loan? An alternative lender will look at the big picture to support you.
The Alternative Funding Solution
If your credit isn’t the best, you will likely receive a “no” to a financing inquiry made to a traditional source like a bank. Alternative lenders offer small business loans to owners who have less than perfect credit. Rather than give up on your search for funding to keep your business moving forward, it may be worth your while to consider a source other than a bank to get the financing you need.
The Takeaway
If you are experiencing hiring woes and are looking for a competitive edge, consider a lending partner like Clear Skies Capital. Give us a call today for a hassle-free consultation. We can let you know how much you qualify for in one business day.
Want to discuss your financing options with experts who’ve helped countless businesses over the years? Contact Clear Skies Capital at 1-800-230-9822 or learn more.