36 Tyre Asia April/May 2018
a talent pool of high potentials to fill
these roles.
“We further argue that given the
importance of informality and
personalised management style to
the organizational culture in SMEs,
SMEs would prefer to adopt an
informal approach to TM and would
not adopt approaches which require
differentiation of workforce by the
formal identification of talent,” Dr
Krishnan said.
Given the inclusive approach to
talent management and evolving
structural form of the SME, there
is a need for the owner-managers
in SMEs to understand the role
requirements as hierarchical levels
get added and also upskill themselves
to the evolving role demands of the
top level managers by envisioning
the directions the organization plans
to go through and making sure that
the right talent is there to take the
organization to the next level.
The right talent might be the owner-manager himself/herself in which
case he/she has to relinquish what
they had enjoyed doing and have
been doing so successfully and take
up new responsibilities that a higher
level position demands in a fast
growing firm.
This might also entail the owner-
manager stepping down and
recruiting a new individual who could
play the role better. Many start-ups
falter on this count and hence are not
able to become successful and evolve
to the next stage of growth to a SME.Challenges are emerging in finding
talent in the light of competition
that is getting tougher as market
economies unleash disruption.
“A competitive market plays two
fundamental roles in managing
talent,” says Krishnan.One, it has a regulatory role wherein
companies that are weak in talent
management practices risk losing
out their valuable employees to
competitors. Companies are findingthat increasingly employees are
seeking out global opportunities
and are not restricted to geographic
domains.In such a context, it is important
for companies to leverage social
media platforms, create a powerful
employer brand, pay competitive
salaries and above all create an
engaging work climate in order to
attract good talent.Second, a competitive market could
also incentivise employees to upgrade
their skills and knowledge as there
is an external market that would
provide good rewards for the talent.
If an employer is able to provide
jobs that are challenging, are able
to provide opportunities that could
engage the various capabilities of
employees and offer assignments
that help build up proficiencies of
employees, there is a high chance
that potential talent would get
attracted and get retained in the
organization, says Dr Krishnan.Continued from page 37Recruitment and retaining talent
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