Resources to run a better business.

Over the last few weeks, I’ve shared some perspectives on how to win in today’s competitive hiring market. We talked about the importance of company culture. We talked about treating candidates like prospects and taking them through a frictionless hiring process. But one of the most important aspects of hiring isn’t about hiring new people at all. It’s about retaining the ones you already have.

Too many business owners are used to a different kind of market, one where employees are hungry for work and eagerly seeking the security of stable employment. That is not the market we’re operating in today. Today, candidates run the show.

Are we headed for recession? Your guess, honestly, is as good as mine right now. Some say yes. Others say no. What’s more concrete are the projections that economic growth will likely slow in 2022 and into 2023. Whether that slowdown becomes a recession is not really up to you and me. But what we do about it is.

Hiring is hard—especially in this market, when employees have their pick of desirable jobs. You’re competing with bigger companies that can offer more money and better benefits. How is a small business supposed to win?

Persistence is not a strategy. Persistence should be a tactic that gets you results. If you persist without acknowledging the impact (or lack thereof) of your efforts, you’re prioritizing hard work over tangible results.

The communication styles of your team members have everything to do with the value they’re able to provide—and their experience of being part of your organization.

That problem-solving skill—your willingness to dive in, and your drive to find solutions—probably got you where you are today. Entrepreneurs have to be scrappy if they want to survive.

The hiring market is tough. Millions have left the workforce. You’re competing with bigger companies for top talent—and you can’t compete with their comp plans and benefits packages.