It can be really hard to manage a financially struggling business. Sometimes, a financially struggling business can get better, and sometimes, it just needs more staff. For example, if you’re a solopreneur and it’s finally time to get talent because you’re struggling to do it all on your own, then yeah, this is definitely the best move.
But the problem is the costs. It costs money to find talent. Every dollar counts, and when it comes to hiring, you don’t have the luxury of throwing cash at expensive recruiters or premium job listings. So, what can you do? Well, here’s what you need to know.
Leverage Social Media
Technically, you don’t have to pay any money if you use social media (as long as it’s not an ad). Platforms like LinkedIn, Facebook, and even Instagram offer powerful tools to reach potential candidates directly.
So, it’s about creating engaging posts about your open positions and encouraging your network to share them. The best part? It’s mostly free unless you opt for targeted ads, which can still be budget-friendly.
Go with the Power of Referrals
By all means, don’t underestimate the power of a good referral. If you already have a team, then you can encourage your current team to refer people they believe would fit well in your company. Offering a small incentive, like a gift card or a bonus day off, can really boost participation without costing an arm and a leg. Plus, referrals are likely to fit your company culture, as they already have a stamp of approval from someone on the inside. Only accept this one if you already have a team.
Explore Local Job Boards and Community Forums
While the big job boards can get pricey, there are plenty of local and niche job boards that might not cost you a dime. For example, you can check out local community centers, libraries, and even college job boards, where you can post for free.
Technically, Craigslist is free, so you could even look at it to find talent on a tight budget. Some people will even use Reddit, such as the subreddit for the location you’re looking into, so you could look into that, too.
Have You Considered AI?
So, this is something that’s a bit new, but there are a lot of AI tools out there, but that’s not all. There are even job boards that companies can post on that are essentially an AI-assisted job advertisement platform; that’s pretty amazing, right? Well, ReadySetHire is an AI-assisted job board that offers just that (and it’s super affordable for basically any small business owner to use). But it’s not only platforms either that have AI.
Maybe you just don’t have time to sit down and look at resumes and cover letters. Well, AI can at least help sort through what might be the best match for you.
Generally speaking, if you lack the time and finances, it could really help to consider this.
Try and Harness the Flexibility of Freelancers and Interns
Are you needing help but literally can’t even afford to hire someone (or at least pay the living wage they deserve)? Well, you could consider hiring freelancers or interns. Sites like Upwork or Freelancer allow you to connect with professionals on a per-project basis.
This way, you can scale your workforce up or down as needed without the commitment of a full-time salary. Interns can also be a great addition, especially if you’re open to mentoring students who are eager to learn and may be a fit for future full-time roles.
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