SME staffing – After the ‘great resignation’

By Josh Alston

When key staff resign, it hurts small businesses much more than larger corporations. Not only are you left short-staffed if the announcement was sudden, but finding a qualified replacement can be challenging.

Competing with the big fish means the best candidates are often gobbled up before you can even get a look in. So what should SMEs do when they need to attract the best talent? And just as importantly, how can SMEs stand a better chance of retaining their existing talent?

There are some effective ways to achieve both. Here is how you can stand a fighting chance against the big fish and get the best talent to become hooked on your SME or startup:

Make company culture a focus: This is imperative. Company culture is an important factor for 46 per cent of job seekers and around 95 per cent of entrepreneurs place culture as a key plank in company success. The goal is simple: make your work environment fun, dynamic, creative and friendly. Foster an environment where ideas and people are valued. Recognise that your staff are the best asset you will ever have. Who would ever want to leave an environment like that?

Prioritise career advancement: You may think the large companies hold every card, but you have an ace up your sleeve. A smaller headcount in an SME or startup environment where you want to grow quickly means there are more opportunities for career advancement. Good staff won’t be pitted against a sea of other good candidates. They will have the opportunity to seize the day themselves. This can be an enticing carrot to dangle to attract quality candidates.

Offer them a stake in the business: Recruiting and retaining key players can be made easier by sharing ownership or equity/stock in the company. Members of the senior team and new recruits can be motivated to stay with the company if their shares grow.

Leverage freelancers: The world has changed. Many people work from home and have multiple clients and you are unlikely to pry them out of their comfort zone. However, there are highly skilled people in this space. Guns for hire. You can lean into this pool of talent when you need to and not have to pay wages when you don’t. For smaller companies, it can often make sense to outsource functions like marketing to freelancers for quality content that delivers results at an affordable price point.

Provide work/life balance: The Monday to Friday, 9-5 workday is a construct of an era that was very different to today. It was a routine designed for a family unit where the father worked and the mother stayed at home. It is redundant today. Offer your workers flexible schedules so they can pick the kids up from school. Let them work from home a few days a week. You will be far more likely to attract top talent in the modern era this way.

By offering an attractive work environment that the big fish can’t match, you will not only see the top talent hop into your pool but stay there much longer.

Want to learn more? Contact us today.

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