It may once have been true that
the most talented individuals would look for employment at large, well-known
companies. Substantial budgets allow big organisations to offer higher salaries
and broad ranging benefits. However, it is becoming increasingly the case that
talented people seek the informal environment and varied workload offered by
SMEs. Big salaries have become less important than overall job satisfaction,
which is dependent on a myriad factors.
There are countless advantages of
working for an SME. Firstly, there are fewer employees and so staff members are
able to build rewarding relationships, thus forming solid, more productive
teams. A Great Place to Work, a global human resources firm, studied successful
workplaces for 30 years and reported that “investing in a high-trust workplace
culture yields distinct, tangible business benefits” including attracting “better
quality job applicants”.[1]
Furthermore, most employees will have the opportunity to work closely with
senior management, so work is more likely to get noticed and ideas are more
likely to be heard. The environment of an SME is generally less formal and bureaucratic
and the work more varied; this keeps employees engaged and drives productivity.
The best employees are most
likely to be career-focused people. As such, you will need to show them that
you can offer promotion possibilities that come with additional perks along
with additional responsibilities. SMEs typically have fewer employees than
larger companies and so there is more opportunity to demonstrate creativity and
skill. Let potential recruits know that there is room within your SME to
develop and flourish and that their efforts will be rewarded with appropriate
promotion.
SMEs that are recruiting must
focus on projecting the message that their work environment is more progressive
and desirable than that of a larger company. A company website is an excellent
shop window: photographs and website content (blog posts, for example) should
reflect the flexible, exciting environment you can offer as an SME. Optimise your
use of social media to connect with younger talent and extol the benefits of
working for an SME.
Attaining a better work/life
balance has become a high priority for most employees and SMEs are best placed
to offer desirable flexible working hours. According to recruitment agency
Robert Half, 29% of HR executives found that work flexibility was the main
motivator for staff members.[2]
The offer of split-shifts, customised hours or telecommuting will appeal to
potential workers, particularly those with young families.
An excellent benefit scheme is a
way for SMEs to attract high-calibre employees. In their most recent annual
trends survey, MetLife reported that in 2014, employees who claimed to be very
satisfied with their workplace benefits were almost four times more likely to
be very satisfied with their jobs.[3]
Similarly, a study by Bupa last year found that 42% of SME workers felt that
workplace benefits were the most important consideration when choosing a job.[4]
This is good news for SMEs who may often find it easier to make changes to
their benefit schemes compared with larger organisations and so are able to
integrate features that will appeal to new recruits.
Flexible benefit plans allow
employees to select the additional benefits that best suit their lives, such as
increased pension contributions, childcare vouchers, subsidised training, and
access to mentoring, company cars and entertainment incentives. Healthcare is
one workplace benefit that is increasingly in demand as it offers real value to
employees.
Attracting the best recruits may
seem like a daunting task for some SMEs. But, in actuality, SMEs are more than
able to attract staff by capitalising on those aspects of their work
environment that separate them from large organisations. Flexibility is of
primary importance in the battle for human capital so don’t underestimate the
power of a flexible benefit package, not only to motivate existing employees
but also to attract new recruits.
Mark Howlett
CEO
Telephone: +44 (0)20 7893 3456
Email: contactus [@] broadstone.co.uk
[1] http://www.greatplacetowork.com/our-approach/what-are-the-benefits-great-workplaces
[2] http://www.roberthalf.co.uk/how-to-attract-the-best-talent
[3] https://benefittrends.metlife.com/benefits-impact
[4] http://www.bupa.com/media-centre/press-releases/uk/flexibility-key-to-retention-and-happiness-in-uk-smes/
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