Competing for new recruits? You may have a surprising advantage.
Have you ever wondered how your small business stacks up against the competition? Or how could you compete with the big dogs when it comes to payment? Turns out, you might have a bigger hiring advantage than you think.
In a recent analysis of Homebase hiring data, Homebase Chief Economist Jason Greenberg found that companies with one to four employees are generally willing to pay target hourly wages of up to $10 % higher than those with 20-49 employees, and even those with as many as 250. This makes smaller businesses worthy of competing in a tight labor market.
It all comes down to a productivity advantage. Looking at sales data from a select sample of Homebase customers, Greenberg finds that companies with one to four employees earn about $4,500 more per month per employee than companies with 20 to 49 employees. So, on a size-adjusted basis, they earn enough revenue per employee to pay a higher wage.
Grow your team with Homebase.Post jobs, track applications, and onboard new employees all in one place.
Find out more
What does this mean for small business owners?If you're looking to take on a role on a team of less than four employees, you may find that you're in a good position to compete with big companies on compensation.
What if not? Do not worry. There's still a lot you can do to differentiate your small business with worthy candidates, especially in today's ever-changing job market.
In a recent survey of 2,000 hourly workers, Homebase found that good leadership is more important than good pay. And that's not all candidates are looking for in a job.
In order of importance, here are the top 10 factors hourly employees consider in a job offer, proving that being a better boss often pays off more than handing out better pay , whatever the size of your business:
company management Pay Great colleagues Flexible working hours A predictable work schedule Corporate culture Learning and development opportunities Company commitment to sustainability and the environment A short trip Health insurance Homebase can help youA little technology goes a long way when it comes to attracting and retaining hourly workers. And Homebase offers all the tools you need to do it all in one simple app.
Here are some of the ways Homebase helps you build, manage, and nurture your small business team:
Recruitment and Onboarding: Post jobs, track candidates, and easily onboard new employees.
Scheduling: Give your team the predictability and flexibility they need with an automated process that allows them to easily submit availability and time off. While allowing you to easily create the calendar, and make and share changes on the fly.
Clocks: make everyone's job easier. With the Homebase app, your team can drop in and out right from their phone (or pretty much any other device). It also tracks breaks and time off, making payroll compliance and preparation easier.
In-App Messaging: Keep your team informed and connected on everything from open shifts to company values and learning opportunities with in-app messaging, reminders, and on-time alerts real.
Employee Happiness: Use the Homebase Shou...
Have you ever wondered how your small business stacks up against the competition? Or how could you compete with the big dogs when it comes to payment? Turns out, you might have a bigger hiring advantage than you think.
In a recent analysis of Homebase hiring data, Homebase Chief Economist Jason Greenberg found that companies with one to four employees are generally willing to pay target hourly wages of up to $10 % higher than those with 20-49 employees, and even those with as many as 250. This makes smaller businesses worthy of competing in a tight labor market.
It all comes down to a productivity advantage. Looking at sales data from a select sample of Homebase customers, Greenberg finds that companies with one to four employees earn about $4,500 more per month per employee than companies with 20 to 49 employees. So, on a size-adjusted basis, they earn enough revenue per employee to pay a higher wage.
Grow your team with Homebase.Post jobs, track applications, and onboard new employees all in one place.
Find out more
What does this mean for small business owners?If you're looking to take on a role on a team of less than four employees, you may find that you're in a good position to compete with big companies on compensation.
What if not? Do not worry. There's still a lot you can do to differentiate your small business with worthy candidates, especially in today's ever-changing job market.
In a recent survey of 2,000 hourly workers, Homebase found that good leadership is more important than good pay. And that's not all candidates are looking for in a job.
In order of importance, here are the top 10 factors hourly employees consider in a job offer, proving that being a better boss often pays off more than handing out better pay , whatever the size of your business:
company management Pay Great colleagues Flexible working hours A predictable work schedule Corporate culture Learning and development opportunities Company commitment to sustainability and the environment A short trip Health insurance Homebase can help youA little technology goes a long way when it comes to attracting and retaining hourly workers. And Homebase offers all the tools you need to do it all in one simple app.
Here are some of the ways Homebase helps you build, manage, and nurture your small business team:
Recruitment and Onboarding: Post jobs, track candidates, and easily onboard new employees.
Scheduling: Give your team the predictability and flexibility they need with an automated process that allows them to easily submit availability and time off. While allowing you to easily create the calendar, and make and share changes on the fly.
Clocks: make everyone's job easier. With the Homebase app, your team can drop in and out right from their phone (or pretty much any other device). It also tracks breaks and time off, making payroll compliance and preparation easier.
In-App Messaging: Keep your team informed and connected on everything from open shifts to company values and learning opportunities with in-app messaging, reminders, and on-time alerts real.
Employee Happiness: Use the Homebase Shou...
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