Small business is on the rise, taking shape a new generation of entrepreneurs. The Small Business Administration (SBA) reported that an estimated 27.5 million small businesses operated in the US in 2009 creating more than 65% of net new jobs. The statistics account for the number of opportunities but not always the opportunity cost of identifying new employees. Trends indicate that entrepreneurs are looking to family and friends to fill those coveted roles.
Laura Pretrecca, USA Today writer, shares findings in her article, “Hiring family or friends to work for you can be boon or bust.”
Whether you agree or disagree with employing family and friends, hiring strategies are a key component to creating a sustainable and effective workforce. The same rules should apply to family and friends as it would to a candidate you identify during the recruiting process:
1. Define position goals/objectives
2. Outline key measurements for achieving those goals/objectives
3. Empower employee to take ownership for the successes/failures
4. Hold the employee accountable
We would like to hear from you. How have you successfully or unsuccessfully recruited new candidates, family members, or friends?