In our recent webinar, we had Nisha Nayar join the conversation with Anjali Bhole Desai to discuss Hiring trends in SME. Nisha has a vast 18 years of experience being associated with renowned organizations like Deloitte, Intercon, T-Hub and many SMEs in the HR domain. She is currently the Business Unit Head at MKS Vision Group. Nisha gave exclusive insights, best practices of attracting, and retaining the talent during the session
Here are the summarized vital takeaways from the session.
SMEs Are Focusing On Their In-House Talent
Even in the pre-Covid era, SMEs have been struggling with finding the right talent because they compete with more prominent brands on aspects like the job roles, facilities, and benefits. There is abundance of ‘ready to hire’ talent pool for large organisations, but for SMEs, they always need to sell themselves. In the last two years, SMEs have started to realize that focus should be prioritized on retaining and managing the talent, not just hiring the talent. The challenges of hiring talent externally are much more than that of in-house talent, and that’s why SME’s are investing more time in their employees.
Unlike previous times now, SMEs are setting up the TA(Talent Acquisition) teams internally rather than outsourcing the requirements. It helps them to bring the people in with the right skill fit and cultural fit as well. Efforts are being put by SMEs on brand building through social media in the last couple of years to tell their story and establish themselves in the market.
Employee First Attitude
The conventional thinking of prioritizing the financial aspect has been replaced with putting employees first due to Covid for the SMEs. Ever since the lockdown started, there have been layoffs making talent pool abundant for the SMEs. However, they are not ready to take in new people owing to the prevailing times and want to sustain by retaining what they have. Businesses are investing time in employee well-being, upskilling employees, and performance feedback to keep them engaged and grow for which they tend to bring in more business or retain the clients.
Diamond In A Coal Mine – Talent In SME
Most SMEs are bound to have unstructured processes and policies contrary to the MNCs who are very well organized. It’s because SME’s inclination is towards sustainability rather than structuring the whole organizational processes. The employees working in such an environment are ready to do much more in MNC because of their proficiency to churn the most out of the minimal tools they are provided with. Also, they do feel much better to work in a streamlined environment. Millennials who constitute a larger percentage of the workforce are not always necessarily fancy about the brand but look for growth and experience in the initial years of their careers.
Watch the whole video below for better cognizance and also the questions of attendees answered by Nisha.