It’s easy to spot which small- and medium-level business would soon break into the large-business league. It is those with extraordinary talent. However, given financial constraints and challenges related to perception, it’s always an uphill task to recruit that kind of talent. Does that mean such businesses will always be doomed to struggle? Not if you play your cards right.
Here are some useful tips for small and medium businesses when it comes to talent management:
- Hire right: It should be the easiest thing in the world, but it’s surprising just how many hiring decisions at this level are not thought-through. The result is talent that looks great on paper but isn’t able to lead when it comes to critical roles. The focus, thus, should be on structured interviews that are designed to reveal key performance and behavioral traits.
- Holistic growth: Working super-efficiently in a silo works great in a large company, but in the long-run it costs the smaller ones leadership and cohesive culture. Make it a point to rotate roles and develop talent holistically in the organization. This will also present you succession options naturally.
- Achievement-driven: Employees leave when they don’t feel driven anymore, especially in smaller companies, which they join expecting explosive growth. Managers should see to it that employees are always working towards some reasonable target so that a sense of accomplishment can be maintained.
- People, not resources: Finally, treat your employees as real people as opposes resources that have a cost and benefit ratio. Looking at the human angle pays out in the long run, and builds bonds that have subsidiary benefits you can never predict tin advance.
- Talent management system :Last but not the least; an organization must invest on right software to take care of all the documentation work that is involved in the course of talent management process. Software that is a perfect fit to your organization workflow will visibly improve productivity and in turn will provide more time for innovation.
Talent-management is arguably the toughest challenge for businesses irrespective of size. Done right, though, it will prove to be high-octane fuel that you were always looking for.