Since its emergence, small, medium and growing companies have remained the catalysts of sustainable economic development. This recent report by the World Economic Forum indicates that SMEs provide employment and hence embody the source of livelihood for more than 70% of the working population worldwide. Meanwhile, talent management remains a challenge for 48% of SMEs in 2022 where talent acquisition became a burden as the world adjusted to talent migration partners.
SMEs are not alone in the talent shortage battle. In Q1 2022, Nigerian startups spoke about difficulties with talent recruitment for general roles. Despite the ongoing wave of layoffs across Nigerian startups in Q4 in line with the global trend, there is still a pressing demand for quality talent which will increase as the economy stabilizes and recovers. To recruit talent instead of just staff, SMEs and startups should formulate and communicate their employee value proposition (EVP) early enough – at the attraction stage.
Both SMEs and startups are similar in the relative obscurity of their employer brand. SMEs are numerous with similar offerings and intense competition, and startups — novel and unpredictable for prospective employees. Given these characteristics, it is quite easy for SMEs and startups to lose in the talent war to their large-scale and more established counterparts that offer more competitive remuneration, perks and proven stability. To have a more even playing field, the first engagement a potential hire has with your brand when you place a job vacancy must be significantly positive, or in other words — demonstrate your EVP in a job offer.
Your Employee Value Proposition is what makes you different from other organisations, and the reason a potential job seeker should choose to accept your offer instead of another. An average job seeker applies for a good deal of similar job vacancies during a search period. Even if prospective employees had been familiar with your company before, they will likely pay more attention to concrete benefits your organisation and the role offers when considering an application or an offer. Where they have nothing else to make a judgement call apart from proposed remuneration, your organisation may likely lose out on a potentially valuable talent because a bigger and more established counterpart would offer more pay plus benefits.
So, if your company is not quite visible yet or just emerging, and if the founder or CEO has not been consciously positioned as one that talents would love to work with, it is advisable to stand out when you are looking to hire. To match this goal, ask this question “What will potential employees see in our job placement apart from the requirements and responsibilities that would make them stop scrolling through vacancies and apply?” The modern labour market is a two-way street — employers and employees are equally selling themselves to one another, and it’s important to position your company strategically to win in the competitive talent market.
To increase the number of talents knocking at the door of your SME or startup, include in your job placements what you offer instead of just what you expect. It may be a young nimble team, flexible work arrangement, unique vision, compensation on training programs etc — whatever is authentic and brand-specific that your organisation can give. How can prospective employees feel that your organisation is where they have always dreamt of working? It is up to you to identify and articulate it.
At the end of the day when you attract a resourceful talent, you are challenged to further prove your EVP and maintain the declared standards to consistently improve the employee experience. If you are not rising alongside the raised bar, you will face a talent shortage predicament sooner or later. And prevention is always cheaper than cure — especially in HR management.
About the author: Similolu Adeyinka is a seasoned HR Management and Consulting expert with over 25 years of experience in setting up, managing and improving human resource systems and processes for organisations 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 seamlessly attract, retain and manage talents.
