I was on a call with a client today during which the subject of hiring was discussed.
She is looking to fill an entry-level position and is seeing that not only has the salary range for this type of position gone up dramatically, but the number of similar positions available in her area has also grown.
This puts her in a challenging position in terms of how to be competitive when salary is the chief variable she is considering when differentiating her business from the rest of the pool.
And here’s the deal… most people are motivated by more than just money but when money is the only lever you can pull, you will quickly find yourself in a hard race to win. Another firm is always going to be able to offer more compensation, chopping you off at the knees in both acquiring talents and keeping them on board.
So I suggested we talk about how “culture” could be a starting point for differentiation in what is certainly a very competitive marketplace.
People tend to seek out three elements outside of monetary gains in creating a fulfilling career: connection, autonomy, and progress. And most businesses have the ability to provide compelling opportunities in each of these areas.
Give people the opportunity to build connections and feel connected. Allow them to have some control over how they accomplish their day-to-day duties. Let them make mistakes. Let them create their own processes and be part of the growth and evolution of your business. Provide opportunities to learn and grow professionally as well.
Even if the job for which you are hiring is entry-level and your business is structured in such a way that there isn’t much room for upward mobility, you can create a culture that enables people to leverage their experience to elevate future opportunities outside of your organization. Help people learn so they can fly at their next career opportunity.
Then tell the world about it.
See, developing this type of culture attracts both employees and customers. Leverage the great culture you are building to differentiate your business. You will find that hiring becomes easier, you will retain your team longer, and customers will have a stronger desire to work with you than with your competitors.