Smaller firms may not be able to offer some of the benefits, from pension plans to group RRSPs, that larger firms can offer. But when it comes to luring talent, they have their own virtues to pitch, according to Daphne Woolf, managing partner of The Collin Baer Group Ltd .
Here are five selling points she says that small businesses can try to play up when competing for talent:
• There is less bureaucracy and institutional structure at a smaller firm. That means individual job roles and compensation can be more customized.
• Employees in a small firm are more likely to have a direct line to the top.
• Many entrepreneurs give staff more responsibility and control over their jobs.
• Small firms can offer more flexibility, more job diversity and the possibility of quicker career advancement.
• Individual employees are likely to have more of an impact on the success of a small company than they would at a larger firm.
Special to The Globe and Mail
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