Small to medium businesses and enterprises may have an advantage in U.K. recruitment. According a new report from Chartered Institute of Personnel and Development, SMEs may have a leg up in recruitment. Why? Their smaller size gives them greater flexibility.
CIPD’s “Labour Market Outlook” provides insight into a number of labour indicators, including recruitment and salary projections. The report found 45 per cent of all businesses intend to add positions at their organisations. However, the study also found SMEs are more positive about finding the talent they seek than their larger counterparts.
Why SMEs are the place to be
Everyone is after the same talent. According to CPID’s blog, high-tier organisations all compete for the same 10 per cent of the talent pool. SMEs set themselves apart through their ability to personalize their offer. While a larger company may have greater standards for the packaging it offers new hires, SMEs are able to adjust their offer based on the job seekers’ needs. In addition, at a smaller organisation, the job seeker is more likely to be talking to the hiring manager. At a larger company, there could be a number of positions separating them. The experience is overall more personalized and more intimate than it would be at a larger firm.
Once SMEs start negotiating with a candidate, they have a great advantage over larger firms. However, smaller companies will need to work harder to demonstrate they’re a great company to work for. A smaller business may not have the brand power of a larger company. For this reason, employer brand is crucial to attracting top talent in the first place. According to the most recent North American Candidate Experience report from the Talent Board, candidates want to know about a company before applying to it. Forty-four percent of applicants research before applying to an open position at a company.
This also suggests that candidate experience matters. Being able to personalize the candidate journey makes an impact on recruitment success. While SMEs may have an easier time personalizing the candidate experience, companies both large and small can provide applicants with a great experience. One of the best ways is to implement the right tools and processes. The right recruitment software makes it easier for recruiters to keep track of everyone in the talent pool and communicate with them effectively about next steps.
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