Everyone is competing for talent. Here’s how you can find and retain the best workers.

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It’s a great time to be an employee. The national unemployment rate is hovering around 3.6% percent. Companies are pulling out the stops to get talent in the door and keep them there. While this is great news for workers, the labor market has proven challenging for firms of all sizes and small businesses are facing a particularly tough time.

Hiring at micro businesses, or those with fewer than 20 employees, stagnated last year even as larger companies continued to add headcount, according to the latest ADP payroll data. 

In the bid to get the best employees, businesses are increasing salaries and the diversity of perks to lure in talent, but that’s a harder ask for a small company with a limited budget. So how do you find employees? Are there must-have perks to help set you apart? I asked business owners on LinkedIn for their advice. Here are some of their best tips for what’s worked for them (answers have been edited for brevity and clarity).

• “Employers, including small businesses, need to get creative not just in offering flexible work and remote options but also in who they choose to hire, focusing not so much on specific skills or experiences but their potential. Candidates want to work for companies that do all these things, but small companies can offer work experiences, opportunities and a chance to be a part of something they wouldn't have at a larger organization. This is what I'm selling and how I'm looking at candidates I'm evaluating for my open roles. I am prepared to train, develop and provide unique work experiences focused on helping my business grow but also my employee's career, which won't always be with me. And as an employer, you need to be okay and prepared for that reality.  - Jessica Miller-Merrell, Workology
• “We often look outside our industry for people with the core skills that are key to success. Some of our best service team members come from food service and retail. We can train a motivated employee on the tech stuff—the people and service skills are most valuable.” - Allen Falcon, Cumulus Global 
• “Check out people with criminal records, as well, and figure out potential partnerships with effective reentry non-profits, as well as with correction systems with robust in-house vocation and post-secondary educational programs.” - Jenny Kim, Koch Companies Public Sector
• “It’s important to continuously interview talented people in your industry even when there's no opening. Why wait until there's a pressing need to build a pool of candidates?” - Paul Rooney, Employee Benefit Solutions
• “Remote work has been a huge attraction to job seekers that I've talked to over the past year. Additionally, what I've found is that people want to be part of an organization where they can make a difference and be more than a number. Everyone has a vision of what they want to accomplish in a job, so we try to allow them to achieve that vision.” - Courtney Sparkman, OfficerReports.com
• “A small company needs to do some key things to compete for talent any time but especially now: Make sure your existing employees are saying great things about working for you in places like Glassdoor and elsewhere online. Share early and often with them why they should come work for you, how they can grow their career and get more of a voice in how they do their work.” - Al Levi, The 7-Power Contractor
• “Having someone work remotely, providing flexibility and treating them more like a partner versus an employee has worked wonders for me. They feel a sense of ownership and more than just another social security number.” - Lakeisha Singletary Jackson, Elevate Digital Media Inc

Other news I’m reading:

Shaky future for cannabis biz: Canadian cannabis companies are more at risk of going under than their U.S. counterparts, reports Bloomberg. Big Canadian pot producers – many of whom have been announcing layoffs in recent days – have enough cash on hand to keep their doors open for a median of just 6.5 months. By comparison, U.S. firms have just over 14 months’ worth. Canada’s Aurora Cannabis, which announced on Thursday it’s slashing 500 jobs, has enough for 2.3 months. Analysts say the companies will need to raise capital or find merger partners in the near future. | Here’s what people are saying

Ransomware attacks on the rise: More small businesses are being targeted with ransomware attacks and hacks in general are increasing. The online assaults, in which hackers lock down entire networks and demand payments for their release, have forced the closure of small businesses, disrupted factories and crippled governments. Last year, 205,280 organizations reported hacks — up 41% from 2018. One expert details the steps to follow if your business is targeted and how to avoid falling prey to the attacks in the first place. | Join the conversation

Rebuilding after a natural disaster: California and Colorado business owners have faced countless fires and destruction with many losing everything. Australian owners are now in the same predicament after months of bushfires have burned 27 million acres and destroyed thousands of homes. My colleague Natalie MacDonald in Sydney is embarking on a video series to connect these owners with resources, advice and help in the coming weeks as they cope with the losses and embark on the journey of starting over. | What advice do you have for these business owners?