Many small businesses and startups have embraced new ways of working and shared plans for a hybrid, flexible or remote workforce going forward. Leaders believe this approach will make their business more profitable and ensure a better employee experience. But how prepared are they?
In a recent interview with People Matters, Suhani NagPaul, Human Resources Business Partner, Stanplus, shared the key pillars of developing a future-ready workforce and the changing role of HR in small businesses.
What are your top talent priorities for 2022?
In 2022, the main focus would be to introduce technology to processes. The pandemic may have hastened the transition to hybrid and remote work, but success in this paradigm has set a new standard that we eagerly await.
The three key pillars of developing a future-ready workforce are work, workforce, and workplace:
- Work: Businesses must rethink their work and work environments to ensure that they are focusing on things that offer value to their people and organisation.
- Workforce: Using modern contingent workforce models, one must then decide who or what should be the deciding factor for that specific activity, while incorporating people and technology.
- Workplace: Finally, businesses must determine where and how work will be done, experimenting as they go.
As businesses pivot to digital ways of working and doing business, how is the role of HR in SMEs and startups changing?
Now is the time to rethink your digital projects, both those that aid employees, customers, and the broader set of stakeholders to whom enterprises are increasingly accountable, and those that help you prepare for a post-crisis world.
At its most basic level, people management in small firms entails adhering to labour rules, hiring, and establishing a channel for dealing with employee difficulties.
In a small business, the cost of not having the correct workers might be incredibly significant. Inefficient talent or talent assigned in the wrong function can have a significant impact on a small business's long-term viability.
While most entrepreneurs focus on marketing, finance, operations, and consumers in their early phases, they must also build the HR function and ensure these issues are addressed well in advance. Prioritising the role of HR in the beginning of the company’s journey can help it move towards more growth at a much faster pace.
What skills and support do HR leaders need to fuel organisational change and propel businesses and the workforce towards new avenues of growth?
In the last couple of years, business leaders realised the need for more dynamic talent and work environments. Leaders in human resources can aid this by emphasising identity, agility, and scalability.
Companies that execute with purpose are more likely to generate considerable long-term value, which can lead to improved financial performance, employee engagement, and consumer trust.
How can SMEs and startups build on their intuitive and compact business models to compete with large enterprises and win the war for talent?
Tech behemoths can afford to spend a lot of money to keep the best employees. Whether or not startups and SMEs want it, they are affected. Not only do the IT behemoths give money, but they also offer a compelling Employee Value Proposition. Insurances, vacations, benefits, and mentorship are all included in the EVP.
Recruiting the proper employees is critical for startups and small businesses, but it may be difficult. There are a number of firms that assist with tech hiring. Some companies specialise in hiring for developing businesses. There are also various tools for tech screening and paired-coding accessible. You will be able to run a highly successful, transparent, and systematic hiring procedure without blowing a hole in your budget.