With the current competitive job market in Ireland, small and medium enterprises (SMEs) have a lot to offer jobseekers, boasting unique hiring potential.
SMEs, in particular, offer employees something large corporations cannot – hands-on experience. Employees tend to experience a range of tasks and functions (rather than being pigeon-holed), and the opportunity to learn at different levels and gain technical/specialist skills.
You don’t need to be a big corporate enterprise to attract the best candidates – you add value just as you are. You do, however, need to recruit differently. As a small or medium-sized business owner, you may be searching for the right candidate at the right price. You may also be considering how the future growth of your company depends on your capacity to increase your headcount.
In this article, we outline six key drivers of success for SMEs in the quest to find and retain great talent in an increasingly competitive employment landscape.
1. Considering the future staffing needs of your business
It’s easy to get caught up in daily tasks and admin when you’re running a small or medium-sized business. However, to ensure the sustainability of your company, you will need to develop a solid growth strategy. Within your company’s growth plan, think about your future recruitment needs and how to get to where you want to be as a business.
How much growth can be achieved with your current team? Are there any projects coming up in the next 24 months that may need ‘extra hands on deck’? It’s important to know when to start hiring more people and what skill sets to look for in those new hires. Once you have your growth plan in place, it’s crucial to review and revise it at least once a year.
Your growth plan can also serve as a valuable retention tool. Sharing it with your team will enable your employees to see the ‘big picture’ of your business, which may include greater responsibility and better compensation for them in the years to come – something to strive towards and a good reason to stay.
2. Optimising your talent acquisition strategy
With the limited pool of candidates available now in Northern Ireland, it has become crucial for companies to prioritise essential skills over rigid requirements. Adapting recruitment strategies to emphasise core competencies rather than rigid prerequisites will unlock a broader and more diverse talent pool. In 2023, some major US companies including IBM and Accenture looked to reduce degree requirements, marking a significant departure from the conventional hiring paradigm.
This approach aligns with the understanding that skills can be developed on the job and that candidates with a solid foundation can quickly acquire any additional skills if needed.
It is essential to carefully evaluate potential candidates and ensure they possess the necessary skills to meet the company;s needs. By adopting this approach, businesses can make informed decisions and increase their chances of finding the right talent for their organisations.
This allows organisations the ability to remain agile while also adapting to changing market conditions and filling critical positions more efficiently. Moreover, by carefully evaluating each candidate’s essential skills, SMEs can make informed hiring decisions that contribute to long-term growth and success.
3. Prioritising employer branding
Effective employer branding is about defining and effectively communicating the qualities that will make your organisation the first choice for the talent you want to attract. Jobseekers can access information about a business’s brand through a variety of communication channels, including your job postings on IrishJobs, social media accounts, and the company website.
Having the right branding in place throughout your organisation is an important aspect of attracting the talent you need. In today’s competitive job market, it’s essential to differentiate your business from the competition. It’s also important for recruiters to understand the power of social media in effective employer branding. By leveraging your social media platforms, you can further enhance your organisation’s values and engage with a wider audience of potential candidates.
Increasing your focus on engaging with passive candidates and dedicating part of your social media budget to educating people on the opportunities available to you is a proactive approach to recruitment that can position your business as an employer of choice.
5. Learning how to spot the diamonds in the rough
SMEs can distinguish themselves from larger counterparts by offering unique advantages to ambitious candidates, often providing an environment rich in hands-on experience and direct involvement, a feature that can be appealing to those seeking dynamic growth opportunities. Once you have completed a shortlist of the candidates that you’d like to invite for an interview, it’s important to consider how you will evaluate them during the interview process itself and prepare the questions you are going to ask some questions that test a candidate’s soft skills. What experience has the candidate gained during their career and in their life journey that will help them to succeed in the role?
The way a candidate answers questions about accountability, communication skills, leadership, and teamwork will provide you with valuable insights about whether they will be a good culture fit. Is it more likely that you will see a return on investment when you hire the candidate with the right soft skills? This doesn’t mean that qualifications should be ignored, but the right soft skills will bring more value to your business if the candidate is eager to learn and fit into the culture.
A candidate’s body language can also be a strong indicator of what type of person is sitting across from you in the interview. Their gestures, expressions, and degree of eye contact may provide you with clues about how interested they are in the potential job as well as whether they will have a good relationship with other employees.
Measuring the candidate’s general attitude is as important as understanding the technical and soft skills they bring to the table. Ask further questions to help discover if the candidate mentions having problems working with colleagues or management in their previous role. Also, take the time to find out how well the candidate copes with heavy workloads, change, and time management. Employees with promising potential are often passionate about continuous learning because they tend to be curious about the world around them.
5. Look out for red flags
Knowing the type of candidate that you’re looking for, including the personality traits that will resonate with the rest of your team, will help you identify any “red flags” during the interview process. Obvious red flags include rudeness, untidiness, or arriving late for an interview. However, there are some other crucial things to look out for.
Is the candidate genuinely excited about the opportunity that they are being considered for?
A good fit will be upbeat about the prospect of working with you. If they are not, then this may be an indicator that they want the job for the wrong reasons.
Does the candidate refuse to take ownership of past mistakes or gaps in their career?
This is a serious red flag. Quality candidates will take personal accountability seriously and try to explain how they’ve learned from their past experiences and what they would change going forward in their careers.
Has the candidate failed to ask any questions?
Essentially, interviews are intended to be candid conversations. A big part of this conversation comes down to the candidate asking relevant questions about your company, the role, and what their responsibilities will entail. Be wary if the candidate doesn’t ask any questions they do ask are not relevant to the conversation you’re having.
6. Understanding what SMEs can offer candidates
Within SMEs, candidates are presented with many unique opportunities, which are not always immediately available at larger enterprises. This environment encourages hands-on experience and new skill development. In the overall scope of recruitment, SMEs empower their candidates while fueling their business with exceptional and adaptable talent.
Hands-on Experience: SMEs often provide opportunities for candidates to take on diverse roles and responsibilities, allowing them to gain practical experience across various aspects of the business.
Direct Involvement: Candidates in SMEs can work more closely with senior management and decision-makers, contributing directly to the company’s growth and strategic decisions.
Rapid Skill Development: The dynamic nature of SMEs encourages employees to learn quickly, adapt to challenges, and acquire a versatile skill set. This also results in rapid career progression in this kind of working environment where new skills and opportunities to grow are abundant.
Entrepreneurial Skills: SMEs encourage a culture of innovation and creativity, investing in their employees and enabling new candidates to contribute fresh ideas in order to have an impact on the company’s overall trajectory and success.
Collaborative Working Environment: Working in an SME allows candidates to gain direct insights into various business functions, enhancing their overall business acumen.
Multifaceted Roles: SMEs often require employees to wear ‘multiple hats’, meaning they can acquire different skills which then leads to a workforce with widespread business knowledge and experience.
Recognition of Potential: SMEs are much more likely to recognise a candidate’s potential beyond just their CV, leading to sometimes unconventional hires.
SMEs in Ireland are uniquely positioned to attract and retain top talent despite the competitive job market. By offering hands-on experience, a diverse range of tasks, and close involvement with senior management, SMEs provide valuable growth opportunities that large corporations often cannot. To leverage their potential, SMEs must adopt strategic recruitment practices, focus on employer branding, and carefully evaluate candidates’ essential skills and cultural fit. With a proactive and adaptive approach, SMEs can build a dedicated and skilled workforce, ensuring their long-term success and sustainability.