People first They must have the right people to do it, though. In fact, for small businesses it’s all about the people. Not many get to trade off their brand or trademarks; they have to work to provide the service and quality customers want, and that means having the right staff. Individuals count in an SME – that’s why we like working for them. But it also means it’s even more important they can hire exceptional talent and keep it. If people leave or positions aren’t filled, there aren’t the numbers to just plug the gaps. SMEs offer a great working environment and a chance to really make a difference, but it is tough. With unemployment at record lows, the jobs market is ultra competitive, and big businesses offer the big salary packages that SMEs can’t afford. They can afford to reward staff well, though. Benefits and rewards can make a big difference to engaging and retaining people. Whether it’s shopping vouchers, discounts on nights out, cinema tickets, weekends away or holidays, the right reward can help make people feel valued and know their hard work counts. SMEs carry a reputation when it comes to culture, with many expecting more individual attention and recognition. And what’s more, a lot of people choose to work for a small business because it’s friendlier and more personal. These attributes set SMEs apart from the corporate world. They’re why many of us prefer to work for them and shouldn’t be forgotten. It doesn’t have to cost a fortune. SMEs don’t need to go big when it comes to rewards to keep staff happy and get their choice of recruits. They just have to be smart – and that’s usually the secret of their success anyway. Don’t miss our latest research exploring how SMEs and Millennials make such a good match.
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