Workers in an office. [Photo/shutterstock.com]
The principal mistake small and medium enterprise (SME) make is remunerating less needed attention to only clerical human resource activities such as workforce administration but fail to engage important human resource strategic tasks like talent administration and training. Perfect talent is not easy to come by and keeping excellent workers is no mean task.
Provide a defined career growth path
We all want that prestigious title and a bulging bank balance. This is not as easy as it sounds, especially for younger companies.
Building an organizational structure that allows for career-pathing takes time and strategy. Being able to show candidates where they can go and how they get it is critical. You also have to prove that you can provide the right resources for professional development.
Recognition and reward
Employees in an SME may have to wear many hats. One has to grapple with being a jack-of-all-trades and master of none. Worse, when one is thrown into the deep end each time a new role comes up, which can easily lead to frustration.
And worse still-they may start looking for greener pastures- to companies whose roles are well defined. This is when retention schemes kick in. Incentivise employees via promotions, salary increments or leadership opportunities.
Assure job security
In most cases, SMEs start off as owner-run family operations. But in today’s marketplace, growth and legacy are best directed by an experienced performer – not necessarily a family insider.
The professionals advise SMEs to spell out their vision clearly so employees do not worry about nepotism or the company’s survival, and focus on contributing towards the company’s for the sake of their long-term success.