Your Business With James Caan 2017 - 274
Work smart -
reward your team
The UK's SMEs can enjoy the
full suite of employee benefits
hen you run your own company,
tasks such as winning and
servicing customers, keeping
your �inances in check and meeting tax
obligations are all in a day's work. And
then there's attracting and retaining the
type of people you want working for you.
Small companies need great talent in order to
grow, but competing with rivals or larger, more
well-established businesses can be tough. What
can you offer people that's different enough to
tempt them away from the role they're in?
In contrast to larger employers, when it comes
to attracting new people you don't necessarily
have the trendiest office or a team packed full of
expensive talent that new staff can collaborate
with and learn from. You're also more scrutinised by
potential employees. How are your finances? Can
the business weather a storm? And so on.
Many a great hire has had a change of heart
at the 11th hour for reasons such as these that
are beyond your control. And keeping hard-won
D I D YOU
K N OW ?
Over 80% of
benefits over a
and expensive talent requires more than a
convincing vision from the founder.
You can argue this goes with the territory, but
it often isn't until you're faced with missing out
on a hire or lose one of your team that it comes
into focus. Potential employees from larger, more
well-established businesses are accustomed to
benefits such as smart offices, defined career
progression, free lunches, free parking and,
in many cases, salary sacrifice benefits and
discounts. Your existing staff also know what
they could get if they joined a rival company.
And what about you? Was one of the shocks
you had to face when setting up on your own