Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

April 24, 2018

Small Companies Need to Expand Their Ideas About Finding Talent

By Achim Neumann

One of the greatest challenges for any small company is locating quality talent. Small companies must compete with large organizations who can often offer larger salaries, and better benefits packages, in addition to being a recognized name brand.

Small businesses must also compete against other small companies that may be desperate or very aggressive about hiring what talent there is available in the marketplace that will lean toward a smaller company.

These conditions drive up prices and can leave a small company with choices that create real concern about being able to acquire the talent they need to be successful.

Because of this reality, small companies must be creative about how and where they source talent. There are strategies to help in this area.

Prioritize the Perfect Skillset

Companies will often focus on a candidate’s academic achievements and work experience. These can certainly give an indication of what the candidate has done in the past, but they may not be true indicators of the candidate’s skill set which is what is most important for your company.

Each job has its own set of demands and skills. A candidate may have been called upon in this past employment to utilize skills that may not be completely relevant to the current job that is on offer. The same candidate may in fact excel at the skills you require but may not have had an opportunity to utilize these skills in his previous employment.

Therefore, the focus should be on the candidate’s skills and what he or she excels at. These skills are the point of contact between your company and the candidate and will help you to determine if the candidate has the level of talent that you need.

This strategy should be communicated to everyone in the hiring process in your organization. They should understand that matching skills with the particular job is the priority and is more important than a college degree, or even past job experience.

Be Prepared to Train a Candidate

When you have a small company, the chances of you finding the ideal candidate with the right combination of experience, skill set, and past achievements is extremely low. The reality is that you will find someone that is lacking in one of these or some other important area and you will have to train them on the rest.

This should not discourage you, instead you should look for candidates that have the majority of the qualities that you want and is trainable in the other areas. This is a candidate that you can hire and train to become ideal for your company.

The key is to be able to recognize those candidates. In order to do this your HR team must be completely aligned about what qualities is most important. Communicate the strategy clearly to everyone in the hiring process so that they look for the same type of candidate. 

Search Offline and Online

Today most companies search for talent online. There are various online job search sites that cater to every industry. On these sites there are thousands of applicants who are looking for jobs of the type that you are offering. These resources or ideal because they provide you an opportunity to review and even interact with a large number of candidates many of whom might fit your needs. 

But you shouldn’t limit you search only to online databases. There are also offline options you should consider. One is to connect with local universities, colleges, and trade schools.  Many students looking for work opportunities will be available to interact with you about possible job openings.

If you are looking to hire part-time, this is a good chance to employ a student who can become a full-time employee when he or she graduates. You can also find interns and short-term employment workers at these institutions. You may have to train some of the students, but the payoff long-term could be exceptional for your organization. 

Small companies have to be creative to locate and find exceptional talent. They can expect to be priced out of the market in many situations, but they can attract great talent if they are creative about their offers, provide an exceptional work environment, and convince talented candidates that they will be a part of something special.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

Comments are closed.

Any questions? Please contact us at 732-872-6777
Call Now

Client Testimonials

“I've always had great respect for those who are excellent in their fields of endeavor. Gary certainly lived up to that standard. He was knowledgeable, persuasive, determined and ultimately the main driving force that culminated in the very successful sale of my business. Well done Gary!”

Stuart Zeiff, Seller

“ I appreciate your diligent approach to screening buyers and sellers as well as the high quality CIM that you produce.”

Andrey O, Investor

“Finally enjoying retirement after recently selling my business using the services of A Neumann & Associates. Joe Oddo provided the conduit to a successful transaction. Joe knew when to inject input and when to simply listen and allow the buyers to vent, step back and regroup. The outcome met our expectations and got us to the finish line, which included my staying with the company six months in order for the buyers to get their footing and keep our workforce in the loop. He helped at every step by providing his expert guidance & resources. Thank you!”

Emily Parker Myers, Co-Owner - Myers McRae

“I had been in touch with Karin and Gary from A Neumann & Associates regarding some opportunities and was looking forward to meeting with them. Hence, when they organized a seminar in Princeton, NJ, I was quick to sign up. The seminar was very informative as the team walked the attendees through various scenarios and referenced real life buying/selling situations they had been through. The sessions by Gary, Karin and Achim were crisp and focused and brought clarity to potential seller and buyers. I strongly recommend the team and look forward to continue working with them.”

Gaurav Tyagi

“Thank you for your Event on "How to value, Sell, and Buy A Business for Maximum Profit" and the insight into ANA’s approach on what is involved in the Business Exit for sellers. Garys Hervieiou's "Business Valuation", Achim's "Deal structure" presentation and Karin’s "Preparing the Package" are real street knowledge shared. They answered attendees questions which makes it more interesting for learning from others. Great for small businesses like us. The presentations were totally worth our time and travel for the event to Princeton, NJ from Rockville MD. Ravi Bhutani, President, CIPS”

Ravi Bhutani

“Gary, this is to thank you for an excellent job done in selling our business. We could never have done it without your professional expertise, dedication and time put in without reservation to make it happen. We will gladly and highly recommend you to anybody in our position.  It was a pleasure to work with you.”

Pat Iammatteo, Owner

“Your vetting is simply outstanding, among the best I've seen from a broker.”

Eric H., Investor

“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Marc, who explained the process in detail. After meeting with Marc in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using to sell my business for max value. Working with Marc at A Neumann & Associates was very easy and professional. I did not know all that was going to be involved in selling my business but they helped me through the process. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. I highly recommend this firm to anybody who wants to sell now or down the road. Marc not only knows his stuff, but actually is a real nice guy.”

Double Diamond

“Used A Neumann & Associates to sale my business. could not imagine having done it with out the patience and experience Gary provided. Thanks Gary,”

Dennis Frazier

“Working with Marc and his company was a pleasure. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. Marc handled most of the interaction and he has one of the greatest demeanors. Again, it was a pleasure working with him and his firm.”

Douglas DiCeglio
view all testimonials

Contact A Neumann & Associates, LLC

If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please fill out our contact form, or call us at 732-872-6777. We will contact you directly and will never identify ourselves to your employees.

call us now
Contact Us for a Free, Confidential Consultation

Experienced M&A Advisors available

Full Name
Email Address
Phone Number
Message