How to Recruit and Retain Top Talent
If you’re looking to sell your business, having the right talent working for you can ensure the proposition looks a lot more attractive to potential buyers. Top talent can not only boost profits with all they contribute, they can take on responsibility for the day to day running of your company and make a huge difference to productivity.
However, wanting great employees is a lot different to getting them. It’s not all about offering great salaries and brilliant perks.
Get Your Recruitment Procedure Right
There’s plenty of advice out there about recruiting the best people for a business. You can find millions of pages of it online and most of it is sage and sound advice you should take on board. Finding a good recruitment agency or consultant that works within your business sector is important and building a strong relationship with them is invaluable. They’ll be able to put out the necessary feelers and identify top talent in your area to headhunt the perfect candidates.
If you’re putting out an ad, you need to make sure that it attracts suitable candidates so wording is important. You have to know exactly what you are looking for and what qualifications and personal traits are going to benefit your business. Then there’s the selection process and how you put together the interview procedures so that it’s fair and meaningful.
Create the Perfect Office Environment
There’s no doubt that whoever you choose wants to work in a place that is fun and a company that will appreciate their efforts. The thing about top talent is that these people can essentially have their choice of where they want to go. If your workplace is stifled or they start feeling as if they are under-appreciated and not enjoying life, they’re likely to start looking elsewhere. Your office environment is key to this and it might just be time to review your processes and make a few changes for the better.
Give Them a Chance to Grow
Top talent is energetic and career minded. They are not looking to stand still. What many businesses get wrong is that they take on someone with the skills and desire they are looking for but don’t have a plan for them to be able to mature and grow.
That can be a big problem, particularly if the individual is in a hurry to make a success of things. The best advice is to make sure you know your new employee well (or an existing one if you have them) and understand where they want to be and how this fits in with your own business plan. In other words, you need to decide if you have to change to accommodate your talented employees.
Don’t Forget to Reward
Rewards are important and we don’t mean a pat on the back now and again. That’s not just the salary you pay but the bonuses and perks a top employee gets for making a difference to your company. There are plenty of value added extras you can put into the mix as well, such as health insurance, gym memberships and the like.
Creating a great work environment and demonstrating that you value your staff, whatever their level, is important for any business. Word gets around fast and can help create the right atmosphere that can, in turn, attract the kind of employees you’re looking for. Particularly when recruiting leaders to your organisation, you need to put in the steps and processes that ensure you not only get the right person but create the environment that keeps them around for a long time to come.
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FAQs – Selling your company
How do I sell my business?
At Entrepreneurs Hub, we talk about five key areas that make the difference between success and failure when selling your business. Read more…
How much can I sell my business for?
Determining your business’s value is more than just calculating a number it’s complex with key factors, that said the basic equation is actually quite simple. Read more…
How long does it take to sell my business?
The timeline varies depending on the complexity of the deal and how ready the business is for sale. On average, the process takes around twelve months – sometimes less, sometimes more.
While preparing your business for sale, Entrepreneurs Hub conducts in-depth research to identify potential acquirers. You’ll have the opportunity to review and approve this list before we make any approaches. Once the business is fully prepared – often the most time-consuming step, we begin marketing it. Typically, you’ll start seeing initial interest within a few months, with follow-up meetings happening shortly after.
As these meetings progress – coordinated and facilitated by Entrepreneurs Hub, you’ll begin receiving initial offers. At this stage, we’ll help you assess the strategic fit between your business and potential buyers. When you decide to move forward with an offer, an exclusivity period begins, during which the acquirer conducts Due Diligence (DD).
The DD phase typically lasts two to three months, depending on the complexity of your business. Once complete, the sale is finalised, and you’ve successfully sold your company.
How do I sell my business quickly?
Selling a business quickly is possible, but speed shouldn’t come at the expense of value or deal security Read more…
When is the best time to sell?
Selling your business is a major milestone, and the start of an exciting new chapter, whether that means new ventures or a well-earned retirement.
In our experience, the best time to sell is when you don’t need to – when your business is performing well – not necessarily tied to the calendar. That said, timing can still play a role.
Timing the Market
Strong economic conditions, sector growth, and buyer confidence boost valuations. Don’t wait for a “perfect” market – a well-prepared, well-performing business sells in any climate.
Plan Ahead (12–18 Months)
The best outcomes come from early planning: clean financials, solid forecasting and growth potential.
Spring & Autumn Are Active Periods
The M&A market is typically busier in spring and autumn while summer and winter tend to be slower due to holidays and year-end distractions. However, the unpredictability of deals and negotiations makes this hard to target. We do deals all throughout the year – the key is to work with someone who can keep driving the deal forward whenever it happens.
Financial Year- End
Selling your business well is a long process and aiming for your financial year-end milestone is a virtually impossible task. But it is worth bearing your financial year in mind as buyers will want to review the most up-to-date accounts available.
The best time to sell is when your business is ready, and you are too. With the right preparation and positioning the right timing follows naturally.
Can I sell my business online?
Yes, you absolutely can sell a business online. Many platforms specialise in connecting business sellers with buyers. Read more…