How SMEs can hire and manage talents
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- Category: SME toolkit
- Written by Bridget Olotu
- Hits: 678
If there is a section of the business landscape that needs to be concerned with the recruitment and management of talents, it is the SME sector. This is because the only way SMEs may be able to match large corporations may only be in the area of human resources. Yes, technology has changed the face of business, redefined standards, given access to small businesses to compete with the large ones, empowered SMEs to build up their operating systems, standards and quality assurance processes, resulting in quality products and services. However, one area SMEs can match large corporations, on an equal footing, is in the area of human talent acquisition and management.
The reasons for this are obvious. One, there is a large pool of qualified professionals out there in the labour/job market due to unemployment in the land. Two, this group of unemployed, underemployed or employable workers are keen on landing a job even in SME environments as long as the business can afford their salaries, provide them with tools for work, have a visionary leadership and path and is willing to make an impact in its chosen markets. Three, this group is eager to make a point that they have what it takes to make a mark in their industry if given the support by their employers. Four, because of their small size, SMEs can develop a workforce that offers personalised, individualised and customer-focused services/products that large companies may not be able to offer because of their large size.Hiring and Managing Talents: The SME Way
There are certainly things SMEs need to do to attract the best of talents. These include:
1. Become a serious minded organisation
This looks and sounds ludicrous, isn’t it? It is not. The questions I’d like to ask you are: is your business registered with the CAC and relevant authorities? Do you have an office/work space where people can safely work? Do you have the right tools for work? Does your business have a culture of excellence, quality and professionalism even though you are small? Are your operations guided by a strong vision that can be communicated to others to secure their buy-in? Do you have a definable product/service offering that enjoys some level of unique selling propositions? In fact, I can write loads and loads of papers to expatiate on these points. Frankly, no talent can ever be attracted to an unserious business set-up, whether small, medium or large. People either want to be part of a big “thing” or want to be part of a small “thing” that has a “big picture.”
2. What will you be offering them?
What may readily come to your mind is money, isn’t it? This is not what I have in mind. It goes beyond just money or only money. To get good talents into your enterprise, what will you be bringing to the table? Your compensation plan or remuneration package has to be good. If you can’t pay such people well at this time, can you defer the payment to a later date by creating a consolidated fund that would take care of such in the foreseeable future? Can you offer commissions, performance bonuses, profit sharing opportunities, company cars or a pool car arrangement for ease of transport, laptops for ease of work, job enrichment or job sharing opportunities? Can you provide accommodation for those that need it? Can you offer company shares, partnership and/or part-ownership opportunities? Can you offer a work plan that supports flexitime, vacations, study opportunities, part-time work, freelancing, etc? Always remember: no matter how fantastic your business vision is, you can’t accomplish it alone. If not, why do large corporations have hundreds, thousands and tens of thousands of workers? It is because the bigger a vision, whether in a work or non-work environment, the more the hands, legs, hearts, minds and brains that are needed for its pursuit. Even if you won’t/can’t be offering the same package as the large corporations, look within you, you can offer something that may appeal and catch the fancy of your prospective employees. Talents are stars that can take your business from the present small or medium state into your desired future with style, elegance and quality. If you want to build a quality business, don’t go for quantity. Like someone once said regarding the acquisition of workers: if you pay peanuts, you hire monkeys!
3. Create, drive and sustain your business by an enticing vision (The Big Picture)
Microsoft started from the garage but grew so fast and got the right people because of an enticing vision its founders, Bill Gates and Paul Allen, had. Same for Apple, Virgin Atlantic, Wal-Mart, Google, Yahoo, Facebook, GT Bank, Zenith Bank, Civil Rights Movements in the US under Martin Luther King Jnr. and many others. People may not see your big buildings and structures now, but don’t let them miss the big picture.
4. Provide a supportive leadership system and environment
Talents, star employees and brain-powered professionals want to work in an environment conducive for the generation, transformation and transfusion of ideas. They also want to work under a confident, self-assured, large hearted and supportive leadership that is committed not only to raise a community of leaders but a community of learners also.
5. Be innovative
If you want to attract star employees, be innovative. Do you still work with typewriters, desktop computers, diskettes and is your business internet ready? In your industry, there certainly are innovations used by the generality of businesses within it. How many of these innovations can be found in your enterprise? There is nothing wrong to start small, but there’s everything wrong with remaining small.
(To be concluded)
Articles
How SMEs can hire and manage talents
Category: SME toolkit Written by Bridget Olotu Hits: 678
If there is a section of the business landscape that needs to be concerned with the recruitment and management of talents, it is the SME sector. This is because the only way SMEs may be able to match large corporations may only be in the area of human resources. Yes, technology has changed the face of business, redefined standards, given access to small businesses to compete with the large ones, empowered SMEs to build up their operating systems, standards and quality assurance processes, resulting in quality products and services. However, one area SMEs can match large corporations, on an equal footing, is in the area of human talent acquisition and management.
The reasons for this are obvious. One, there is a large pool of qualified professionals out there in the labour/job market due to unemployment in the land. Two, this group of unemployed, underemployed or employable workers are keen on landing a job even in SME environments as long as the business can afford their salaries, provide them with tools for work, have a visionary leadership and path and is willing to make an impact in its chosen markets. Three, this group is eager to make a point that they have what it takes to make a mark in their industry if given the support by their employers. Four, because of their small size, SMEs can develop a workforce that offers personalised, individualised and customer-focused services/products that large companies may not be able to offer because of their large size.Hiring and Managing Talents: The SME Way
There are certainly things SMEs need to do to attract the best of talents. These include:
1. Become a serious minded organisation
This looks and sounds ludicrous, isn’t it? It is not. The questions I’d like to ask you are: is your business registered with the CAC and relevant authorities? Do you have an office/work space where people can safely work? Do you have the right tools for work? Does your business have a culture of excellence, quality and professionalism even though you are small? Are your operations guided by a strong vision that can be communicated to others to secure their buy-in? Do you have a definable product/service offering that enjoys some level of unique selling propositions? In fact, I can write loads and loads of papers to expatiate on these points. Frankly, no talent can ever be attracted to an unserious business set-up, whether small, medium or large. People either want to be part of a big “thing” or want to be part of a small “thing” that has a “big picture.”
2. What will you be offering them?
What may readily come to your mind is money, isn’t it? This is not what I have in mind. It goes beyond just money or only money. To get good talents into your enterprise, what will you be bringing to the table? Your compensation plan or remuneration package has to be good. If you can’t pay such people well at this time, can you defer the payment to a later date by creating a consolidated fund that would take care of such in the foreseeable future? Can you offer commissions, performance bonuses, profit sharing opportunities, company cars or a pool car arrangement for ease of transport, laptops for ease of work, job enrichment or job sharing opportunities? Can you provide accommodation for those that need it? Can you offer company shares, partnership and/or part-ownership opportunities? Can you offer a work plan that supports flexitime, vacations, study opportunities, part-time work, freelancing, etc? Always remember: no matter how fantastic your business vision is, you can’t accomplish it alone. If not, why do large corporations have hundreds, thousands and tens of thousands of workers? It is because the bigger a vision, whether in a work or non-work environment, the more the hands, legs, hearts, minds and brains that are needed for its pursuit. Even if you won’t/can’t be offering the same package as the large corporations, look within you, you can offer something that may appeal and catch the fancy of your prospective employees. Talents are stars that can take your business from the present small or medium state into your desired future with style, elegance and quality. If you want to build a quality business, don’t go for quantity. Like someone once said regarding the acquisition of workers: if you pay peanuts, you hire monkeys!
3. Create, drive and sustain your business by an enticing vision (The Big Picture)
Microsoft started from the garage but grew so fast and got the right people because of an enticing vision its founders, Bill Gates and Paul Allen, had. Same for Apple, Virgin Atlantic, Wal-Mart, Google, Yahoo, Facebook, GT Bank, Zenith Bank, Civil Rights Movements in the US under Martin Luther King Jnr. and many others. People may not see your big buildings and structures now, but don’t let them miss the big picture.
4. Provide a supportive leadership system and environment
Talents, star employees and brain-powered professionals want to work in an environment conducive for the generation, transformation and transfusion of ideas. They also want to work under a confident, self-assured, large hearted and supportive leadership that is committed not only to raise a community of leaders but a community of learners also.
5. Be innovative
If you want to attract star employees, be innovative. Do you still work with typewriters, desktop computers, diskettes and is your business internet ready? In your industry, there certainly are innovations used by the generality of businesses within it. How many of these innovations can be found in your enterprise? There is nothing wrong to start small, but there’s everything wrong with remaining small.
(To be concluded)