Talent management for small businesses

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Understanding your employees is essential for any firm, but for small businesses there are some pretty unique challenges. In general, rather than permanent employees Neptune Media uses local talent depending on the project at hand, which gives up much greater flexibility.  This article looks at the some of the things to bear in mind regarding your workforce. 

When it comes to talent management, small businesses are often at a disadvantage — where larger, more established companies can employ HR staff, small businesses usually have to manage for themselves.

Thankfully, it is possible to do without, even if it’s not ideal. If you’re just starting out, it can be hard enough to attract top talent, let alone retain it. But talent management is not just about employees’ ability and experience — it’s about their potential. You have just as much chance recruiting a recent graduate as any other firm, providing you can offer a decent wage.

So, what exactly are the basics of successful talent-management, and how can they be implemented?

Put simply, talent management is the science of picking and keeping the kind of people who will help your business reach its potential. The attitude of potential employees is extremely important. You want people who are eager and dedicated — and who stay that way.

Of course, the best way to keep employees motivated is to keep them happy, and you can usually achieve that by rewarding them for their efforts and promoting them into positions that best suit their skills. You must be prepared to train workers and give them the opportunity to progress within your company.

This is where the size of your organisation can actually be an advantage. Small businesses tend to have closer workforces, and it’s much easier to make employees feel as if their contributions and individuality are valued.

And that doesn’t have to involve spending lots of money on bonuses — a good attitude will do just as well. Take time to learn names, and provide staff with feedback opportunities. If you have a communal lunch area, eat with your employees once in a while. Celebrate company successes with your whole team, and remember to give praise when deserved.

With a small team, this should be easy. As your business grows, you’ll have to find other ways to keep your employees feeling valued. The key to retaining talent is to avoid taking them for granted.

That said, talent management will never be easy if you don’t know what you’re doing. Save money by enrolling on an HR course or teaching yourself using online resources — you really don’t need designated HR staff if you have a small team. That might be something worth considering when you decide to expand, though.

Learning how to attract, manage, retain and nurture talent requires time and effort on your part. It’s possible you’ll pick it up as you go along, and learn through trial and error. But, if that’s not something you can risk right now, HR recruitment software might be a worthwhile investment. It’ll certainly make life easier for you, and can act as a useful framework if you don’t have much experience in HR.

Talent management might not be a walk in the park, but if you get it right, it’s one of the best things you can do for your company. An efficient and dedicated workforce can mean the difference between success and failure. Don’t leave it up to chance!

2014-01-10T14:44:33+00:00