Small-scale businesses are preoccupied with an endless list of challenges. Unlike big businesses that have ample resources to fix the problem, small businesses have to push harder to ensure their longevity. If the statistics are to be believed, only 1/3rd of small-scale companies cross a decade benchmark. There are numerous challenges that small firms have to tackle like capital management, consistency in growth, business expansion.
Amongst all these, one common challenge that most of the small businesses have a hard time resolving is unable to hire a right pool of talent that will drive the company to progress. Hiring is especially a prominent stumbling block for the small-scale industry, given the dearth of necessary resources. But not hiring the right candidate can shake up the employee turnover expense, ultimately affecting the entire finance, which is the last thing that a small scale business wants.
Observing superficially, the recruitment process doesn’t look much intricate, but there are several challenges that a small scale business faces in their search for the suitable candidate:
Ill-defined recruitment process
In the race for completing deadline and ensuring good productivity, small-scale business tends to ignore the basic fact that: employees make or break a company. They are in such a rush to fill the vacant position that instead of following defined steps, they go with their intuition. Similarly, small business owners should remember that unlike their significantly dominant contemporaries, they do not have that kind of time to micromanage training of the hired candidates. Hence it would in their best interest if they have experienced talent management or they consult an RPO service.
Molding position per candidate’s competence
Stemming from the inexperience in talent management and a nebulous recruitment process are those circumstances where an organization, to save money, hire anybody, not heeding their qualification and proficiency. You should hire a candidate competent enough to handle the position. Businesses can ensure this by performing through job analysis and establishing a pattern to ensure maximum efficiency. Also, small firms can find a good match through networking and referrals.
Employee engagement and retention
A loss is a loss, but larger enterprises can compensate for the loss of money and other resources when an employee leaves the company. This is not the same for a small-scale business. Hence they should be able to put big data analytics to find that suitable candidate who will be able to gel in the company’ culture. Big data analytics can help small-scale business enhance their engagement and employee retention rate.
It is natural for small-scale businesses to feel undermined by the human capital of large enterprises. Using the right advertising tool or detailed and unique job description on all channels would amplify your brand recognition and attract more job seekers.
Businesses regardless of their size should have the cognizance that the way they are utilizing all the resources in their power to find the right candidate, the job seekers are also leaving no stone unturned to know about the company’s working environment and reputation before applying. Glassdoor statistics suggest 83% of employees/job seekers are likely to research company reviews and ratings when deciding where to apply for a job. Hence businesses, especially small-scale need meticulous devised strategies and assistance of an adept RPO service to avoid or resolve all these challenges.