Topical issues - "How can SMEs compete with MNCs to retain talent?" > Forum Main> Attract, Hire, Develop and Retain talent that best meets the needs of SMEs > Topical issues - "How ca...

Topical Issues: (# top 3 issues)

Retention of Talent  (#1)

Retaining the various Generations@Work

Managing Post Attrition Impact

Attracting the “Right” candidates (#2)

‘Window of Performance’ (#3)

Employer (industry) Branding

Recognition

Succession Planning

Career Progression

# 1 Issues : Retention of Talent – Questions Arising

Has anyone considered using work-life balance practices for retention?

How do you help staff balance their personal dreams/lives with the company’s dreams/visions?

What are the tangible or intangible factors that enables SMEs to retain talent? (reward & recognition scheme)

How can SMEs compete with MNCs to retain talent?

Would you introduce retention bonus? If yes, what is the minimum service period?

How do you find “monthly performance measurements” benefitting staff and any negative effects?

Per the CoP methodology, “How can SMEs compete with MNCs to retain talent?” garnered the most votes from participants and formed the basis of the group discussion.

How can SMEs compete with MNCs to retain talent?

-       Leverage the flexibility of SMEs to cater to their talent requirements

(this recognizes the fact that MNCs due to size and scale may not be as nimble)

-       Able to provide ‘personal touch’ to handling staff/talent

-       Specially catered/designed internships

-       Flexibility to design customized recognition and appreciation schemes/programs

-       Can provide greater opportunities for operating at various levels of the organization

-       More opportunities for learning and exposure