Snapping up star talent

THE world of work is changing - which presents some exciting opportunities for small- and medium-sized enterprises (SMEs) looking to snap up or attract the services of quality people.

Or at least, that seems to be the view of a number of highly-regarded business strategists and thinkers.

I follow several interesting personalities on Twitter, including trend analysts like Graeme Codrington as well as contributors to the Harvard Business Review.

Codrington recently wrote something on his blog which hit home for me. He said: "The recession has been more than just an economic downturn - it has changed the world of work, forever."

I experienced this first-hand the other night when I posted some information on a blog and on my Twitter feed about an entrepreneurial event I'm involved in.

It was at 11:35pm. Within five minutes of the postings going live, I had two RSVPs and two inbound Skype calls wanting further information about the event. Technology means that people are no longer bound by office hours, and the idea of being tied to a desk.

The world may have been bogged down by the economic malaise, but one thing which has been noticeable me in the last few weeks is that more and more people are talking about grabbing star talent while it is on offer, and retaining those people who they believe will make a long-term contribution to their business.

In the financial services sector there have been some big-name moves at Absa, Nedbank and Stanlib in the last nine months. Chatting to a couple of entrepreneurial souls who feel stifled within corporates, I find they are very keen to jump ship - and job security is not their primary concern any more.

Business writer Amy Gallo wrote an interesting piece for the Harvard Business Review and she said something intriguing about company culture.

Portfolio employees

She wrote that company culture matters more than ever at a time when businesses are on the prowl for your stars. From the leaders she interviewed, she surmised companies need to focus on building a strong culture versus a "free agent nation".

Businesses have been in such a state of high stress for the last 12 months that many have lost their way in terms of culture and identity - yet this can be one of the real drawcards for attracting quality talent, including in small firms. The natural response has been to try and get more out of fewer people, without changing the operating rules of the business.

When you have 70 people doing the work of a hundred and sweating the labour force, maybe it is time to step back and work out how you can make your organisation work smarter.

Just a small observation on the subject of free agents. I am seeing an interesting trend which is the so-called portfolio employee or career. This could lend itself particularly well to small businesses and start-ups, which need to acquire innovative and entrepreneurial personalities but cannot afford take specialists on full-time.

The idea is that fewer people are interested in the traditional nine-to-five type employment. Rather, those with a dose of entrepreneurial flair prefer to freelance their skills out to various businesses but not be tied down to traditional corporate rules or a single employer.

Websites like Elance.com have helped businesses attract these kind of employees online.

People are a huge cost for small businesses, bad people an even greater one which moreover can break your business in a matter of months. You have to invest wisely and get the right skills at the right time at the right cost to your business.

Technology and the free agent employee is one of the ways in which you can make your workforce more flexible. Companies have the ability to get more out of their rainmakers and use their skills better - without trying to get blood out of a stone.

- Fin24.com