15 December 2019

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Tackling the 'People Problems' in Companies

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According to a research, one in every five small companies finds it tough to touch the growth curve because of recruitment problems. The root cause of this problem is the salary structure and other benefits that larger firms offer, which the smaller firms cannot afford to.. Besides a large number of small firms lack the in-house HR capabilities to attract the cultivated staff.

Attracting Talent

Attracting and retaining talent are the core aspects of any HR policy .It is highly important for any firm to emphasise on the benefits of working in that firm. While attracting the talent, companies have to concentrate on what they have rather than what they do not. It is always better to offer some great offbeat incentives like:-

  • We treat you like a person and not number
  • The employer will personally evaluate your performance.
  • In a large company, an employee needs to specialize whereas in a small company one works in a generalist role and gets to learn a lot more about the entire operation.
  • Policies and decisions are made on personal and individual basis rather than cold company policies.

Apart from the above mentioned ways, always include the question “what is it like to work with us?”  on your company’s website. This would help the prospective job hunter know about the company’s culture. Also generate media reports about the events that are organized in the company, this helps in popularizing the company among the potential employees.

Rather than following the conventional advertising medium to attract talent which is also quite expensive, a small firm should opt for creative ways of recruiting. Since the cost of recruiting a new hire is high, the recruiting manager must assess the exact profile of the candidate he is looking for and target the right candidate, this saves both time and resources.

Also try and form links with the local candidates and employers, forming bondages might take time but it is worth investing and is beneficial in the long run since it would help in getting the right person at the right time.

While everybody says, ‘I love my work’ most people work for money. Since a small firm cannot offer exceptional salary packages, focus on the unique perks that can be provided as a strong work/ life balance and a compelling story.

Retaining Employees

A lot of companies, due to recession, have downsized recently due to which the sustained employees face a lot of work stress and this might end adding up to the ongoing problem of employee retention.

It is very well said and proved that a happy person is much more productive and puts all his/her energy into job responsibilities rather than an unsatisfied one.

To retain a productive staff, a company should offer incentives like offering a group insurance policy for the employees that motivate them to stick on.

Recognition of the good work done by an employee and making it acknowledgeable in front of others will boost the morale of the employee. If an employee commits a mistake, address that in person..

Flexibility in the workhours and schedule, a conducive environment in the organization wherein communication is open and integral to the system etc are essential to make the staff happy .

Besides, encourage employee participation in the decision making process so that he/she knows that he/she is valued in the company. Celebrating occasions like birthdays and anniversaries of employees by any means is also important..

Make employees realize that they have a great potential career growth path with the company and also provide trainings as and when required.

Also remember that recruiting a new employee requires much more time and money than working hard and retaining an existing employee.

 

 

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