Attract Employees with Payroll Factoring | Business Factors
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How To Attract Talented Employees To Your Business

Young people in the officeAs a business owner, you understand the importance of having a group of quality, professional, and talented employees on your side. Your employees are your business. They are the ones that interact with your customers, emulate your brand, and communicate your story.

You wouldn’t someone to tarnish your brand, would you?

We have worked with countless business owners that have all, at some point, experienced the same problem. Attracting talented employees.

We have compiled 4 tips to consider that will help you attract the best, and most professional employees for your business.

1. Personalize Rewards

Your employees are people too, and should be treated as so. Each of your employees has its own strengths and weaknesses, good days and bad day, and more. You should treat your staff as individuals, rather than as all one entity.

Create personalized rewards, no matter if they are monetary or what have you, that are based on their personal preferences.

For example, treat anniversaries with your employees as you would with another person. Budget your finances to give each of your employees a special gift at their one year anniversary. They will feel as if you truly care about them, which will increase their happiness at your workplace.

2. It’s Not Always About the Money

Many business owners believe that in order to attract talented employees, they need to be paying them more. This is not always the case. Smart, professional workers look for more than just monetary benefits. They look for qualities in an employer that help contribute to a healthy work-life balance. Some perks that talented employees look for are:

  • Flextime
  • Paid Time Off
  • Rewards/praise for Performance
  • Medical & Health Benefits, and more.

Many businesses struggle with this. They believe that they can’t afford to implement these benefits into their business plan, but this can easily be remedied. Using payroll factoring can help keep you on top of your finances and build a strong source of capital.

With payroll factoring, a factoring company will purchase your business’s outstanding invoices and advance up to 96% of the invoice with low rates. This helps you avoid taking out a costly loan, while also allowing you to build a strong source of cash.

3. Make Guidelines & Stick To Them

All employees want to be treated as equals. Nothing will send hard-working employees out the door faster than a boss that boss plays favorites.

It is crucial that you set guidelines for rewards and stick to them. One-off rewards can send the wrong message to potential employees. Your system of reward should be open to anyone willing to work for it, not for the person that you like the best.

4. Create A Good Company Culture

Company culture is key for attracting talented employees. By hiring like-minded individuals, you will make the workplace a better, and more fun, place to be. Create perks that show your team how much you mean to them. This can be as simple as buying lunch every once and a while to creating company outings to giving days off. There’s no one solution for this, so get creative, read your team, and find the right one for your business.

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About the Author:

author image Since 1991 I specialize in Invoice Factoring, PO financing and ABL facilities. I currently work internationally with companies in the US and Canada via our internet marketing division. Specialties: Accounts Receivable Factoring and Payroll Funding for Manufacturing, Oil & Gas, Telecommunications, Wholesale Trade Distribution, Staffing and Transportation. I always enjoy helping companies rise to the next level of success.

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