Last week I came across an article from Singapore Management University with the following title: “A challenge to SMEs: creating creative ways to attract talent.” Here’s the lead.
“According to a recent poll of undergraduates and recent graduates of the three local universities, Singapore Management University (SMU), National University of Singapore (NUS) and Nanyang Technological University (NTU), MNCs, as a category, still outstrip SMEs as employers of choice. Recruitment firm JobsFactory, which polled over 4,500 students, revealed that in this year’s survey, the top five employers of choice in the private sector are Apple, Singapore Airlines, Google, 3M and DBS Bank – all large companies with operations across the world.”
The article has some good insights. And, I think you’d get the same results if you did a similar survey in the US. So how can smaller companies compete with the giants? Here are three strategies.
Look for something different. Graduates of top universities have proved that they’re smart and that they can produce academic results. That’s admirable, but it’s not what most businesses are seeking.
Look for people who’ve been successful as leaders. That means that they’ve delivered results through people.
Create an appealing workplace. There are many reasons why a talented person might want to work for a smaller company. The character of the workplace is one of them. Check out Entrepreneur magazine’s “Best Small Business Workplaces of 2010” and a list of great workplaces from the partnership of Winning Workplaces and Inc. magazine.
Those should give you some good ideas. Be sure to read Winning Workplaces’ Mark Harbeke’s post: “Why Small, Private Companies Are Best Equipped for the Long Haul.” Mark mentions several characteristics that will be attractive to high achievers.
Learn from the big companies. You may not be able to spend like those big global companies, but you can learn from them. A great place to start is Dan McCarthy’s post: “Leadership Development for ‘Little Guys’.”
Remember this. Smaller companies are general more agile and more flexible than their larger rivals. Smaller companies can be more flexible in working arrangements. And they usually offer opportunities to assume real responsibility earlier than larger companies.
