Tags

I read the report with some interest, but it strikes me there were some principles which could be drawn out of the report for SMEs which are worthy of mention (as well as some dissimilarities).So how do these principles apply to SMEs?

The general principle will be that the larger companies can out muscle the smaller ones when it comes to pay and reward, that is certainly true.
The recruitment process therefore needs to concentrate on how the SME is different from it’s larger counterparts

It is precisely the smallness of the SME that is unique, concentration on being a larger fish in as proportionately smaller pond will have it’s attractions to either the young who are willing to take risks in a relatively safer environment, or the more mature individual who has become disillusioned with large Corporate environment.

The social interaction at every level is much more open in the smaller business where it is possible to know everyone and their background.
Indeed even the Office environment can be more personalised than the Corporate cubicle.
Having you own car parking space and being recognised by the Boss is something more easily achieved in an SME

Working closely with CEOs and seeing the Board in action is invaluable experience, being up close and personal with Entrepreneurs is a good grounding in business knowledge, you will not get the ability to see main board PLc directors behave under stress..

More importantly the breadth of knowledge and experience is wider in an SME
There are no large functional departments whereby each personal fiefdom is protected and outsiders wont get a look in if there are staff shortages or special projects.
On a smaller scale the whole business will know of new initiatives and quite often ask for volunteers to help out , whatever their original discipline, this will suit the naturally inquisitive.
Such experience is priceless, to rise to the challenge and maybe to have that unexpected bonus is much more satisfying than the annual appraisal done by the HR department and the promise of a move from grade 24 to grade 23.

The Organisation gets a much more flexible attitude in return and when that BIG change comes along the whole organisation is ‘change’ ready.

Other non tangible benefits include a willingness to grant flexi time, overtime or tele-working as individual’s circumstances change.

The SME then is a better breeding ground for all round talent management than the larger organisations, the challenge is to retain talented individuals.
With a bit of luck, talent management becomes a two way street, the very talents employed in the firm help the firm grow successfully and meet new challenges which in turn can feed the talent base and further improve the skill set.

"I believe the real difference between success and failure in a corporation can be very often traced to the question of how well the organization brings out the great energies and talents of its people."
— Thomas J. Watson, Jr.{A Business and its Beliefs (1963)}
Diversity in an organisation should always be welcomed. And I would think that it depends to a very high degree on the leadership attitude – Does the senior management represent diversity in terms of experience, knowledge and even gender? Diversity is a top-down approach and hiring managers tend to emulate what they see at the top i.e. they hire people who they think have the potential to grow and find themselves at home at the top of the corporate ladder.
Talent therefore is like cooking – you have to mix different ingredients that work well together added in the right amount to get a rich taste and texture. Imagine how boring food would be with just salt and pepper!

The origin of the word talent is from the ancient Greek word 'talanton', which means balance, sum or weight in gold or silver. And how well does this connotation stand today!? It is true that talent is precious, but it is also true that talent is widespread. We are lucky to have amidst us a resource that is abundant in supply. However, this abundance also poses a challenge - the one of channelising talent - and this is where effective leadership comes into picture. I believe leading the talent of today has a lot to do with recognising expanding boundaries in a globalised world, and allowing one's talent pool the freedom to co create and collaborate effectively. The video interviews we at Tomorrow's Company conducted with young students seem to resonate these views. As the boundaries of the world seem to collapse onto one another, it is our responsibilty to become and thrive as global citizens.

A follow up question is: How does an organisation remain practical and realistic in order to gain the right talent and to keep them working for you? What is driving the employees? And how to keep them motivated? How do you create value for the organisation and for themselves? A positive organisation creates positive staff where they can achieve their potential.

I was lucky enough to have had a great mentor showing me the ropes and sharing his experiences with me. Employees want to do an excellent job in a solid organisation where there is trust, support and comfort. They don’t want to be managed, they want to be led, to be inspired to higher levels of excellence and they want a leader who can develop their potential. After twelve years in the Netherlands and three years in England you realise that there are some differences, but also a lot of similarities!

The ‘talent pool’ is something we in Charterhouse group are constantly exploring, developing and watching.
Our current sources embrace clients, suppliers, associates, partner organisations.
In all of these, where we dip into such talent pools, it helps to build a true ‘partnership relationship’ with these external sources.

Comments ...
- To make effective use of the ‘talent pool’, there needs to be a clear strategy linked to that of the organisation ... as it must support and help in overall organisational development.
- There also needs to be a clear ‘talent leader’. Preferably in a senior position and with efficient lines of communication to all parts of the organisation so that changes in requirements can be quickly noted and fed into the talent scouting process.
- It also requires constant, organisational-wide review.
- One of our greatest pools of talent lies in our own people. Everyone undergoes a career and personal development review every 6 months with their team leader and their peers. Immediately after this review, the individual is responsible for updating their own entries in the organisation’s online skills and competencies database system.
- Our team and project leaders use this database as the primary source when building new project teams.
- Where necessary our teams of mentors and in-house coaches can then play a part in each individual’s role development. Active participation in different projects is a key element of our ‘people development’ initiatives.
- The upshot is that we find we are constantly evolving our own in-house talent. I wonder just how many organisations even consider this as a source ? Do they have processes in place that could even identify and capture this talent ?