Since its inception, small, medium and growing companies have remained the catalysts for sustainable economic development. This recent report by the World Economic Forum indicates that SMEs provide employment and therefore represent the source of livelihood for more than 70% of the workforce worldwide. Meanwhile, talent management remains a challenge for 48% of SMEs in 2022, where talent acquisition became a burden as the world adapted to talent migration partners.
SMEs are not alone in the battle against talent shortages. In the first quarter of 2022, Nigerian startups talked about Difficulties with recruiting talent. for general papers. Despite the continued wave of layoffs at Nigerian startups in the fourth quarter in line with the global trend, there is still a pressing demand for quality talent that will increase as the economy stabilizes and recovers. To recruit talent rather than just staff, SMBs and startups need to formulate and communicate their Employee Value Proposition (EVP) well in advance, at the attract stage.
Both SMBs and startups are alike in the relative obscurity of their employer brand. SMEs are numerous with similar offerings and intense competition, and startups: new and unpredictable for potential employees. Given these characteristics, it’s quite easy for SMEs and startups to lose in the talent war to their larger-scale, more established counterparts that offer more competitive pay, benefits, and proven stability. In order to have a more level playing field, the first commitment a potential employee makes to your brand when posting a job opening should be significantly positive or, in other words, demonstrate their EVP in a job offer.
Your employee value proposition is what makes you different from other organizations and why a prospective job applicant should choose to accept your offer over another. An average job seeker applies for a large number of similar job openings during a search period. Even if prospective employees have been familiar with your company before, they are likely to pay more attention to the specific benefits your organization and position offer when considering an application or offer. When they have nothing else to make a judgment about other than proposed compensation, your organization is likely to lose potentially valuable talent because a larger, more established counterpart would offer more pay plus benefits.
So, if your company is not yet highly visible or is just emerging, and if the founder or CEO hasn’t consciously positioned themselves as someone talent would love to work with, you may want to stand out when looking to hire. To achieve this goal, ask yourself this question: “What will prospective employees see in our job placement, other than the requirements and responsibilities that would make them stop looking for openings and apply?” The modern job market is a two-way street: Employers and employees alike sell each other, and it’s important to strategically position your company to win in the competitive talent marketplace.
To increase the number of talents knocking on the door of your SME or startup, include in your job boards what you offer instead of just what you expect. It can be a young and agile team, a flexible work arrangement, a unique vision, compensation in training programs, etc., whatever is authentic and brand specific that your organization can provide. How can prospective employees feel like your organization is where they have always dreamed of working? It is up to you to identify and articulate it.
At the end of the day, when you attract resourceful talent, you are challenged to further demonstrate your EVP and uphold stated standards to constantly improve the employee experience. If you’re not climbing next to the high bar, sooner or later you’re going to face a talent shortage situation. And prevention is always cheaper than cure, especially in human resource management.
About the Author: Similolu Adeyinka is an expert in human resource management and consultancy with over 25 years of experience in creating, managing and improving HR systems and processes for organizations across various sectors of the economy in Nigeria and the UK. Similolu shares her vast knowledge of sustainable HR management as a strategic HR consultant for SMEs to help companies attract, retain and manage talent seamlessly.
… Why your SME and startup should add your value proposition to job vacancies Read more at … Naijaonpoint.