Source of Competitive Advantage in Small Business

If your small business is growing-congratulations! Before you consider hiring anyone or writing a job description for that matter, remind yourself why you started your business in the first place. Go back to your business plan and re-read the section about goals, visions, and mission: this is the basis of your company culture.

Company culture refers to the shared values, beliefs, attitudes, and behaviors that characterize an organization and guide how its employees interact and work together. Culture can be thought of as “the how” because it defines the way things are done within a company.

Culture is the cornerstone of a successful business and provides significant competitive advantage.

Very often, small businesses hire out of sheer necessity and fail to consider the culture as it seemingly doesn’t have a direct effect on the bottom line. Yet it does!

It all begins with talent attraction. A strong company culture can attract top talent to your organization. Potential employees often consider cultural “fit” when evaluating job opportunities. When your company has a reputation for a positive culture, it can more easily attract and retain skilled professionals, reducing recruitment costs and the disruption of frequent turnover.

So how can you impart your culture into talent attraction? Document your history, culture, values, and any other characteristics that make your organization different from, better, or unique compared to your competition.

On your website create a “recruiting brochure” that includes:

• A well-defined answer to “why work here?”
• Bird-dog referral bonus policy
• Key benefits
• Awards and accolades
• Directions to an application form
• Employee photos & testimonials
• Equal Opportunity Statement

Remember, the product or service you sell is not what sets you apart in your industry, its how you do things that differentiates you and gives you the competitive advantage!