People Are the Key to Scaling SMB Growth
Scaling business growth can seem tricky for SMB’s who have a lower budget and fewer resources compared to the top players in the industry. But don’t worry, there are ways to keep up that don’t require you to invest bundles of time, energy and money.
According to the Australian Small Business and Family Enterprise, 90% of businesses in the Land Down Under are SMBs, so count us in that pool! By learning from experience and making the odd mistake, we have discovered secrets that have helped us improve success in the workplace, which can be applied to any industry. Our methods include having an efficient hiring process, making your staff happy at work and upgrading your digital tools. Find out what you’ll learn in this blog below.
Topics covered in this blog:
- The benefits of a good induction program
- How digital tools can help your growth strategy
- Breaking down barriers and misconceptions
Reap the Benefits of an Induction Program
An induction program is a great way of making new staff members feel like they can be their authentic selves—and it has a major impact on performance and retention, according to LinkedIn. These programs can consist of training courses, fun staff events, internal incentives and fun competitions. Like Richard Branson once said, “Train people well enough so they can leave. Treat them well enough so they don’t want to”.
Here’s how Kaydn, a recent joiner to the Denovo family feels how he benefited from his induction program with us:
“I started working here one month ago. Since then, I have participated in several internal staff incentives, gone to trampoline dodgeball with the whole team and completed the Denovo Academy course. I found the course to be extremely beneficial and it gave me a clear vision of the career path I can take with Denovo. I feel lucky to be on this journey with such a strong sales team and manager behind me and I’m looking forward to what the future brings.” – Kaydn Erskine-Small.
Learning: Having a strong internal induction program and good work culture increases staff happiness which attracts positive business growth.
Upgrade Your Hiring Process and Digital Usage
According to Deloitte’s 2017 study, Connected Small Businesses, SMB’s who use digital platforms are 50% more likely to be growing revenue than those who still use basic IT methods and they earn 60% more revenue per employee.
Upgrade your digital tools such as the CRM you are using, and you will notice that the quality of new hires you acquire will be a lot stronger. You will also be able to retain those quality hires at a much better rate. The main benefit of using digital platforms is they allow you to efficiently match a candidate’s skills with the job you’re looking to fill rather than having to comb through resumes by hand. However, there are still misconceptions that seem to be holding SMB owners from reaching their full potential.
Learning: Using digital tools to boost your hiring process leads to quality hires, better retention rates and improved business growth.
Overcoming the Barriers
Unfortunately, there are misconceptions that often seem to stop SMB owners in their tracks and freeze like a deer in the headlights. The Deloitte study tells us that 87% of Australian SMBs are still not taking full advantage of today’s digital tools. When SMB owners were asked to identify their top barriers to embracing digital engagement, one of the top answers was the cost of digital tools (34%). This misconception is still prevalent even though the cost of
digital tools has in fact reduced over recent years!
Business owners, you can chill out. You don’t need a huge budget, large marketing team or extra time and money to see positive results. Focus on hiring a strong team and make them happy, get more digital and you shall reap the benefits!
Do you need a recruitment expert to find quality new hires for your company? We can use our specialised digital platforms to take the stress out of your hiring process and find the next best fit for your team, no matter what industry you’re in. Call us on 1300 336 686 or email email@example.com
Are you in Europe? Call +31 20 523 1053