Year In Review
With the New Year on the horizon, we’re looking back at top HR issues faced by many this past year.
1. Finding Top Talent
Finding quality talent remains a top concern for 43% of businesses, and 64% say it limits business growth.1 Small and medium-sized businesses (SMBs) will face more competition from larger corporations that survived the economic downturn and are looking to grow.
Globalization has been good for SMBs who make up 25% of Canada’s exports.2 So why not look beyond your neighbourhood for staff? Mobile workers, the internet and social media open up a new world of workers. Post jobs online, use Skype or FaceTime for interviews and do thorough background checks to verify skills and minimize hiring risks.
2. Keeping Key People
The improved economy can prompt employees to start looking for “greener pastures”, making retaining talent a major concern for 59% of companies.3 Since employees value competitive salaries, group benefits and flexible work arrangements, a comprehensive compensation program will help SMBs stay competitive.
The aging workforce also means employers are facing the retirement of long-standing workers. Developing future leaders is a concern of 52% of businesses,3 but only 24% of SMBs have succession plans.2 Start planning early so you aren’t left with a skills gap.
3. Technology: The Double-Edged Sword
A large portion of today’s workforce has grown up with technology, so it’s not surprising they turn to social networks when looking for a job, researching employers and making decisions about joining a company. In fact, nearly four out of five candidates prefer to work with a sociallyconnected CEO4 but your online presence should match your internal reality. If you present yourself as a progressive company, you should have the technology, tools and culture to back it up.
Technology can also present potential pitfalls. 69% of workers say they regularly waste time at work,5 so set policies for how technology should be used and be proactive to nip time wasters in the bud. Technology should be a boon to business not the bane of your existence.
Recruiting and retaining talent will, without a doubt, continue to top SMB priorities, but let’s take a few minutes to relish our successes this past year and celebrate the start of a new year.
Year In Review (PDF version)
1. ProfitGuide.com. 5 Keys to Finding Top Talent. 2012.
2. CBC. 10 surprising stats about small business in Canada. 2011.
3. Society for Human Resource Management. Challenges Facing HR Over the Next 10 Years. 2012.
4. BRANDfog. 2012 CEO, social media & leadership survey. 2012.
5. Salary.com. 2013 Wasting Time at Work Survey. 2013.
The information contained in this HR Tip Sheet is summary in nature and is intended to provide general guidance. It should not be viewed as a replacement for legal or professional advice.
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