When it comes to finding and retaining the best talent, SMEs can find it hard, with research suggesting four out of five SMEs find recruiting a uphill task. Bigger competitors often snap up the most talented graduates in the most in-demand fields, as they have the reach and funds to secure almost anyone they want.
If you add to that record high employment figures in UK, finding the best people for your smaller business can seem like a difficult task. But it’s important for SMEs to supplement their workforce with the best and the brightest – how else are you to grow and prosper?
With all this in mind, let’s look at why top talent is so important and how to get it.
Smaller Businesses See Bigger Results
In a huge company, no employee really has the opportunity to stand out or drastically affect their employer’s fortunes. Rogue traders might occasionally put a sizeable pockmark in a banking institution’s bottom line, but aside from those unwelcome examples, most employees in big firms are part of a machine. Not so for smaller businesses.
In a smaller concern, the right hire can have a dramatic impact. Because SMEs are more agile and carry a smaller team, recruiting top talent can provide tangible benefits. Innovations and superior performance by a new, talented employee can set the tone for the whole workforce. What’s more, talent begets talent. Being able to show prospective employees the high-level workforce you have is likely to impress and encourage more talent to your business.
Finding and Keeping Talent
To identify and recruit the best people in the field, your business has to apply itself to the task. This means working out what makes you unique and attractive to a potential employee and fostering a culture that makes the business an irresistible choice.
You need to identify what you do that makes people stay with your business. Small businesses can often offer more in terms of job progression and skills growth than bigger companies. Make it clear what this candidate will receive for coming onboard. Businesses that hire employees are taking them from somewhere else, so what makes you the better choice?
If you have HR on-site, then invest in recruitment marketing tools. This will enable you to target jobs to the right people in the right areas. If you don’t have dedicated HR, find a recruitment agency that understands the type of employee you want – have a firm idea of the skills and experience required, so they can run with this.
Finally, remember that recruitment affects the whole business. Every person involved in the sourcing and interviewing stage should have their voice heard. When deciding on a candidate, ask if this potential employee is not only skilled enough, but of the right character and disposition for your outlook.