MSMEs have the potential to also serve as a key employment generator for India, creating thousands of opportunities for the young workforce. The key challenge, however, is whether MSMEs are equipped to manage talent.
A survey from the Confederation of Indian Industries showed, 20% of medium- and 80% of small-scale enterprises don't even have well-defined HR departments. As MSMEs continue to grow and compete with larger enterprises, such as MNCs, for the same talent, they must invest in improving their talent processes and policies, give more power to HR, and explore ways of enhancing their employee value proposition to attract and retain top talent, maximise productivity and performance, and drive better business results with more skilled talent.
Evolving MSMEs need a newer and stronger force of HR teams and processes.
To help business leaders and HR teams in the MSME sector, People Matters, in partnership with Keka, brings to you a new series of stories, case studies, best practices, trends, research and roadmaps.
Together we will take this journey of finding the answers to HR challenges faced by the SMEs.
Keep following: #SMEcorner
If you wish to contribute kindly contact: drishti.pant@gopeoplematters.
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A recent People Matters and Keka webcast deliberated on the future of employee engagement in 2023 and how HR leaders can some of its critical challenges
