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Ways of Overcoming the Challenge of Attracting and Retaining Talent in SMEs

The requirements of creating a healthy work atmosphere, presenting resources for growth, getting a committed team and delivering versatility are strongly appreciated by the young generations. Talent is the cornerstone of all businesses for creating an ideal team capable of facing new obstacles and ensuring progress. For this purpose it is important to provide the […]

The requirements of creating a healthy work atmosphere, presenting resources for growth, getting a committed team and delivering versatility are strongly appreciated by the young generations.

Talent is the cornerstone of all businesses for creating an ideal team capable of facing new obstacles and ensuring progress. For this purpose it is important to provide the best potential workers. For small and medium-sized businesses (SMEs) trying to deal with big corporations with huge budgets, it appears quite challenging to get more exposure and integrated brands, at first. The positive news is it may be.

SMEs may take advantage of their smaller scale, greater versatility and better interaction with the staff.

Trainee incentives, incentive rewards, six-month pay raises, postgraduate research funding, internships, and educational opportunities are some of the advantages that help draw younger generations of major companies. Don’t despair, however; SMEs can also take advantage of their smaller size, more flexible nature and closer contact with workers.

Before getting into ways to recruit interest, knowing what employees really enjoy in a career is important first. Surveys such as “best jobs to live” actually show that income is no longer a driving factor.

The company’s business growth, creativity, staff cohesion, work climate and work-life balance are some of the factors that prospective workers weigh when making a choice.

This is why small and medium-sized companies should create approaches to obtain a hold of skilled talents within their reach. In the one side, they enjoy greater flexibility than multinationals to alter or automate their internal processes. On the other hand, since supervisors have fewer workers under their direction, they become better acquainted with their aspirations and needs to try to satisfy them.

Leaders of businesses will concentrate their procurement of labor on the standard of life provided to workers. The starting point should be a flexible work schedule and work geared to achieving the goals. Many non-monetary considerations, such as reduced work hours on Fridays, lunch time exercises or an extended holiday week, often play a role.

Another thing that may often create a huge difference for larger companies is the ability to make choices and to work separately. Employees – particularly younger ones – aspire to be central players in their teams, which can be done more effectively in small groups where the hierarchical structure is horizontal and more roles can be rapidly gained.

Because of the absence of a department of human resources, it is usually the employer who performs the role of recruiting employees but that should not mean that the selection procedure will be invented. The first step in planning this phase is to build a document with work description like employee biography, priorities, reach and limitations. Awareness, strength, experience and style of personality needed for each vacant role must be identified. When a skilled worker is recruited, finding a way to keep him or her is advisable. Below are five tips on how sme’s can attract and retain talent:

1. Build a cohesive team

Establish a healthy and enjoyable working atmosphere, and make it one of your biggest assets. Encourage a shared dream, and provide a dynamic and productive team to promote innovative concepts and teamwork.

2. Propose initiatives that raise expectations:

Recognize tasks that aren’t too demanding and are entirely practical, inspiring and needing commitment. When assigning important missions that generate interaction, emotional aspects should be considered.

3. Commit to their growth

 Professionals want to imagine the future, to know their promotional opportunities and to start their career progress.

4. Recognize their importance for the company

Let them believe their participation is essential in reaching objectives and remembering a job well done.

5. Make the business a happier place

This improves morale and profitability, attracts expertise, decreases absenteeism and creates more ideas.

When an employee enters the company, it is important to insure that they are successfully inducted into the company, ensuring that they are equipped with the expertise and information they need to serve their position and deliver to the maximum of their abilities. Ensure that new hires have daily one-to-one sessions before and after their probation time, and they appreciate what they are doing well and the main ways they continue to change and grow in.

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