Hiring employees is always a huge concern for most small business. Employees are always changing jobs and are becoming incapable of staying in a position. Economists now suggest that trends will add to a lack of employees - and small businesses will feel the effects. According to research, the labor force is getting smaller, as more people are leaving the labor market.
So how can a small business owner go about their recruitment process, get the best candidates, and as keep them? Let's look at 7 tips that will help in that regard.
1. The salary offer should match the going rate
If you're to attract quality employees, you need to make that sacrifice of paying a matching salary. You could focus only on the top and vital positions at the initial stage. It's a no-brainer that the quality candidates will always go for the best offer in the market.
If you're to fix a salary that's not up to that of your competitors, you may lose out on your target employees. Do...
Stan Genadek: What's up Dirt Monkey Maniacs? Today, we're going to talk about what everybody says you need to do, but nobody shows you how to do it. Not a lot of you know that I own a lawn care company, what you don't know is, my excavating company is completely separate from the lawn care division and what nobody knows is that I own a third company doing pure construction, decks, house additions, remodeling work and two other companies. All of my companies run themselves without me, you're going to see that today. If I can do it, you can do it. Each company is completely unique from the other companies but the systems that run them are not, they’re universal across the board. But what's even more important is, I'm going to teach you guys how to do the exact same thing. When you understand the basic principles of a system, you can tweak it and make it fit just about any company's profile. The system is the fundamental key to building a...
Stan: Very good. Good. So let's talk about the difference between an independent contractor and an employee. Especially within the construction industry, it's real easy to confuse these two things. Especially, if you start to use somebody on a regular basis, you have to be very careful. Now, the IRS is awesome enough to give us a 20 factor checklist. Something that you can look up on your own, on the internet. Here's the form. I'm actually gonna use to go down that Jeff was nice enough to print off before we started this. They also have a second set of forms, which gives you links, which gives you consequences, which gives you a more thorough outline. But today, we're gonna talk about this 20 point checklist. We're gonna go down, what we consider, the most important points of this checklist. What do you find, Jeff, are the things that contractors make the biggest mistake on when they hire a subcontractor?
Jeff: As far as classification?
Jeff: Yeah. Well, I mean a lot of...
Stan: See, there you go.
Jeff Law: I'll have to know.
Stan: All right, today is going to be one of the most informative sessions for all of you guys that have questions about hiring your first employee, and what it means to be a subcontractor versus an employer, which is something that typically happens within the landscaping and construction industry. I have Jeff Law with Law Tax & Financial here with me today. Jeff is the expert, I'm not the expert. I have the same questions that you guys have. I have 30 years experience hiring people and going back and forth with the IRS on different matters, I never seem to win though. First off, let's go over the question of; you're just a brand new contractor coming out Jeff, and you're going to hire your first person. What do you do right out of the gate? What's the first things?
Jeff Law: Well, once you have that person when you're ready to put somebody to work, you're going to want to determine whether they're an employee or a...