Attracting and retaining the best talent is a difficult task for small and medium-sized businesses (SMEs). The large corporations have more money, more perks and a better brand. This doesn’t mean that SMEs will be left out. Smaller businesses can have advantages that make them as attractive, if they are not more, than larger companies.
Anthony Sutton, Director of CreamHR shares his HR experiences and what he’s learned over the years.
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How to Leverage your Company Culture
A workplace culture that treats employees as individuals and values them is one of the most attractive things for today’s employees. In any business, the most important asset is its people. They need to feel valued and cared for. SMEs offer a flexible, personal and inclusive work environment, unlike large corporations. A strong company culture, where employees feel valued and heard, can be a game changer in terms of recruitment.
How do you do it?
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Define and articulate the mission, values and working environment of your company.
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Develop a culture where employees feel valued, appreciated and taken care of.
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Encourage transparency and collaboration. Make sure your employees feel like they’re part of something important.
2. Offer Career Growth & Development
Many people want more than a good paycheck. They are looking for opportunities to grow, learn and progress. This can be difficult in an SME, as there may not be a traditional career structure. Working in an SME allows employees to learn more than in a large corporation. There are also some benefits that can be provided without spending a fortune.
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Offer on-the-job skills development and training programs.
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Mentorship is available from senior industry experts and employees.
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Cross-training is a great way to expand your employees’ expertise and help them develop their knowledge in different areas.
3. Be Creative With Compensation and Benefits
While it can be hard for SMEs match corporate salaries, that doesn’t stop them from offering a compelling compensation package and creative perks such as:
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Flexible work arrangements, including remote and hybrid options that are based more on output than presenteeism.
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Give extra days off for birthdays or mental health.
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Employee ownership, profit sharing, and performance bonuses are all options.
4. Create a strong employer brand
A strong employer branding can make a SME as desirable as large companies. Showcase your employees and promote the workplace culture of your company.
How do you do it?
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Share employee success stories and testimonials on your website.
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Engage with candidates via LinkedIn and industry events.
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In job advertisements, promote company values and initiatives.
5. Hire Potential, not Just Experience
It’s not necessarily the candidates with the longest CVs who are the best, but those with the most potential. Hiring those who are willing to learn and who share your values is more valuable than hiring people who check every box in a job description.
What you should do:
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Hire candidates who have strong problem-solving and adaptability skills.
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Conduct structured interviews to assess long-term potential and cultural fit.
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Instead of hiring “perfect” employees, invest in training and development to develop your own talent.
Conclusion
While SMEs do not have the large budgets that the largest corporations have, they have something equally powerful: the ability to provide meaningful work, personal development, and a workplace culture in which employees are valued. By leveraging their strengths and being creative with compensation, branding and development, SMEs are able to attract and retain the best talent.
The first time HR news published the article How small businesses can compete for top talent without breaking the bank.
