The vast majority of Canadian small businesses, including independent ad agencies and small creative shops, say that recruiting and retaining talent is important to their success — and between the twin stresses of accommodating retiring boomers and finding ways to attract qualified millennials, a quarter say recruitment worries keep them awake at night.
Most (67%) also said it’s getting harder to find the right candidate.
That’s according to American Express‘ most recent Small Business Monitor, which surveyed 548 Canadian business owners with under 100 employees. But, Athena Varmazis, VP of small business services at Amex, said despite these worries, smaller firms are uniquely positioned to offer millennials the things they’re looking for.
Small business owners showed clear concern about “the different demands and to some extent unknown demands of the new, younger workforce,” she said. “They’re very conscious of… understanding what the dynamics are, and making sure their organization adapts to attract and retain them.”
She said Amex’s research highlighted three main advantages that small businesses can use to attract millennials: flexibility in scheduling and workplace arrangements, a healthy and vibrant workplace culture, and opportunities for training and personal development.
“Business owners recognize there are some great advantages to working for a small business,” she said. Ninety-three per cent of business owners said small businesses do a better job of creating staff cohesion and cultivating an attractive corporate culture, 38% said they allowed employees to work remotely, while 27% offered paid vacation days.
Three quarters of businesses said they recognized the importance of personal growth, something which Varmazis said included mentorship and cross-department training. “Giving employees an opportunity to evolve and perfect skills in one area of the business, and then giving them the opportunity to move into another area of the business, is something very unique to a small business.”
Though small businesses are having a harder time finding the right candidate, Varmazis said they’re impressed by the overall quality of millennial candidates.
“Thirty-three per cent have seen a dramatic increase in improvement in the quality of students fresh out of school,” she said. “To me that’s really encouraging, and really speaks to what the younger workforce can offer small businesses.”
