SMEs make up the vast majority of businesses in this country and they contribute billions of pounds to our economy. According to the latest statistics from the Department for Business, Innovation and Skills,* there were a record 5.4 million private sector SMEs at the beginning of last year, accounting for 99% of all private sector businesses in the UK , with a combined annual turnover of £1.8 trillion. These stats demonstrate the importance of SMEs to our country, yet most senior executives say they don’t want to work for a ‘small business’.
We conducted research into this topic as part of our new report, The SME Recruitment Challenge, which you can download for free here. The research found that just 16% of senior executives want to work for a small business and the majority of respondents (41%) identified companies with between 100 and 500 employees as the ideal size to work for. But why? Exploring the reasons behind this, the research provided some interesting insights:
- 79% of respondents believe that directors of small companies are paid less than their counterparts at large businesses;
- 66% of respondents think that career progression opportunities are better at large companies;
- 68% of respondents feel that larger companies offer a better work-life balance.
But it wasn’t all doom and gloom. A number of senior executives like working for smaller companies, saying that:
- It’s easier to make a bigger impact at an SME
- Small companies are more entrepreneurial
- There is less hierarchy and politics
The real challenge facing SMEs is how to spread this message more widely and reverse the perception that large companies offer the best chances of career growth and progression. Small businesses make a big contribution to our economy so it is vital that they attract the very best senior talent to help them thrive.
In response to this challenge, we have developed a guide containing advice from six experts who provide their thoughts on what SMEs need to do to make themselves as attractive as possible to potential top level recruits.
In addition to our guide, we’ve created a new recruitment service specifically for SMEs that offers all the tools and techniques that the biggest employer brands have access to but in a flexible, affordable package. This new approach will make it easier and more feasible for SMEs to access the same recruitment support that large companies take for granted. SMEs no longer need to be outgunned by their larger competitors when it comes to finding and attracting senior talent.
To view and download the full report – The SME Recruitment Challenge, visit: www.norriejohnstonrecruitment.com/downloads/sme-recruitment-challenge/
To find out more about our SME service visit: www.norriejohnstonrecruitment.com/services-provided/sme-services/