SME’s – The Key To Post Recession Growth and Recruitment19. September 2011
Many owner managed businesses have continued to experience growth, but have been reluctant to make changes within their organisations due to the fear of another global recession.
It is something of a double edged sword. To promote growth and increased profits a business must increase their employee numbers and plan for the future. During a recession, employers cut budgets and move into a hiring freeze almost immediately. What this means though, is that after a recession, employers are slow to hire new people to increase the productivity and potential growth.
In studies of economic growth after a recession, it has been found that many people will rather put their faith into entrepreneurs and small business to ensure a positive stimulus of the economy. While it is true that during a recession the power tends to be in the hands of employers. It is vital that SME’s take control of post recessionary economic growth and use everything in their means to manage their employees effectively.
As a business owner you are more equipped to see and feel the economic upswing before anyone else, and this is also the time to engage in planning and HR decision making for the future. Look carefully at what skills and your business will need in the immediate future to sustain economic growth.
One way of doing this is to create a talent pool right now. Even if you are only considering hiring new people for your business in six months or a year, you can still make use of recruitment software to create a group of candidates that you can hire before anyone else does.
Recruitment software is leading the way in planning and preparing for increased economic growth after a recession. It allows you to make plans, organise many of your HR functions and keep a selection of talented potential employees interested and excited about your business.
Investing in recruitment and HR software, especially as a small business owner is one of the most important aspects of post recession planning. Recruitment softwar allows you to plan for a future workforce by using the lessons and technology of today.