Is your SME facing recruitment and retention difficulties?

posted by 3 years ago in News
Is your SME facing recruitment and retention difficulties?

According to the recent Aldermore Future Attitudes report, 67% of SMEs (which accounts for 3.82 million enterprises) throughout the UK are finding it difficult when looking for experienced and qualified staff and maintaining their existing employees.

When it comes to hiring the right staff for a business it can be hard, the report revealed that the main concern for 32% of SME bosses is finding the right staff for their business, 20% said it was filling key employee roles.

26% found retaining suitable staff once they have been employed a real concern while 20% admitted they were worried about their increased workforce turnover. 15% feel it is difficult to train and develop staff who have potential to become of great value. 15% also felt their younger members were harder to manage and keep on track.

29% have revealed that they have dealt with an increase of their staff members leaving when compared to last year.

When diving into the reasons of employees departures 23% bosses have admitted that the most popular reason for their leaving is a change in career path, 21% said it was due to a climbing the career ladder faster, 24% explained it was because they moved to a larger corporation within the same industry while 16% said the same but to a different sector and 13% moved to a different business in a similar industry.

Of those who took part in the research, 76% understood that they must make conscious efforts to avoid losing their employees – 28% said they do this through a healthy work/life balance, 26% said they present opportunities to their staff with 23% offering courses while 21% give regular pay rises.

Group managing director of business finance at Aldermore comments;

“It’s a job seeker’s market out there and this trend looks set to continue over the coming years. Talented workers within the SME industry are able to find new employment quite easily, with many individuals moving on when they feel they can get a better deal or could progress further and quicker in a different environment. Competition for the best industry talent has always been fierce and business leaders need to put measures in place to ensure their companies are attractive places to work for ambitious employees.

“The best people can have a significant, positive impact on how that business performs, so therefore it is heartening to see that the majority of SMEs acknowledge that it is important to make an effort to keep talented people by offering a good work-life balance, flexible working, and valuable training. This is to be applauded, and many larger employers could learn much from their smaller peers about maintain staff satisfaction.”