January 12, 2018

BEST PRACTICES TO RETAIN TALENT IN AN SME

A topic often discussed today is the importance of SMEs in the national market and, therefore, it is worth looking into how these companies manage the retention of Talents within them.

Currentlypeople are at the center of the concerns of companies, managers have long realized that, if they want to have solid companies, they have to value the individuals that make them up. In medium-sized companies, which aspire to expand in the market, this awareness is equally or even more urgent, as its evolution is intrinsically associated with the ability to retain the right people in the most important activities for the business.

Changing for kids, retaining talents is nothing more than keeping individuals who have differentiating characteristics from others, which bring competitive advantages to the organization and, at the same time, create the best conditions for the growth and development of these same individuals. Basically, create the necessary conditions so that they don’t want to change.

In the universe of SMEs, it is common to find companies that do not yet have a structure that includes a human resources department or a professional who is dedicated to this area and has responsibilities in the development of actions in this forum, which will inevitably hinder the process of analyzing competencies and, inherently, the ability to retain talent. This transports us to cases where there is no effective performance appraisal. Recognizing talent in these circumstances goes a long way towardsidentifying patterns of behavior, differentiating skills and the degree of commitment to the company.

Performance evaluation or regular feedback are fundamental strategies for this process, as well as training, when well aligned, or an acculturation policy based on internal communication or the holding of corporate events. We cannot, however, forget about reward and recognition practices that are also necessary and have to be well structured within an organization. A reward system must be fair and have a foundation based on concrete values and objectives.

We know that an SME does not have a robust financial structure to often financially reward its employees, but they make an effort to satisfactorily reward their employees in order to motivate them.

There are also effective strategies that can be taken into account in the retention process, such as:

Assignment of more challenging jobs;
Directed training;
Empowerment;
Recognition;
Effective internal communication policy;
Promotion of active participation of employees in corporate events/activities.

Companies are the result of people’s productive capacity. The more they are valued, the more loyal they will be in the companies where they are located.

Added value can only be obtained with employees committed to the company’s vision and structure, with the mission and the processes developed. And only these committed employees guarantee the quality of the products and services that the organization represents in the market.