Now, let’s talk talent. What does the word ‘talent’ mean to you? Talent has become a word that lots of companies shy away from using as it can commonly be used to refer only to those performing above and beyond.
We’ve highlighted some pointers that we feel will help change the way talented employees are viewed and provide guidance on how best to attract, retain and develop the workforce of the future within your business.
For SMEs, attracting and keeping the right people who will help the business grow and drive it forward is essential. After all, if you only have 10 members of staff and you lose one – that’s a tenth of your workforce and business experience gone!
- The importance of changing the mind-set of business leaders
Creating a workforce which will take your business into the future needs to start with the leaders and a change of mind-set. The new generation entering the workforce think and live very differently now and businesses need to adapt if they hope to attract them.
It’s about throwing out the old rule book and finding ways to get the best people in through the doors, and then make the best of them while you’ve got them. Businesses need to recognise that employees won’t stay in one job for a long time anymore, but while they are with you, then support and development processes can help to keep them happy for longer.
FACT OF THE DAY: According to a recent UK workforce survey the average time people stay in a job currently is five years before moving on, while in the US it’s just over 4 years. Many want to work part-time or flexibly and this is where it is vital for businesses to move with the times as well.
There needs to be more ownership on looking after the people you already have –nurturing the existing talent within the organisation and helping people to develop their skills. This will all increase your chances of employees remaining loyal, growing into new roles within the company and reducing staff turnover.
- A positive reputation = a more successful recruitment journey
Valuing your staff and making the most of people while they are with the business, ensuring they leave with a positive story to tell about their great experience of working for you, is an essential tool in the recruitment process as it helps to build a positive reputation. Don’t forget, that in an era of social media, word of mouth and personal recommendations count for a lot.
SME’s have to work harder to attract talent and will often be used as a stepping stone for people’s careers, but that can be a good thing if you can create a positive reputation as somewhere to work which focusses on helping employees grow – who wouldn’t want to work somewhere like that?
- Have you got a succession plan?
Business leaders within SME’s need to have succession plans in place as this will help to promote internal recruitment. Creating a supportive culture which values employees and their wellbeing will encourage your staff to grow. If you can combine this with developing their skills it will only increase the chances of them moving into new roles within your company.
In summary: from the role managers play in supporting employees, to the recruitment process to attract the right people in the first place, there are many factors involved in helping a company to attract and retain the workforce of their future.