Would you work for you?

When we were researched and wrote up our own learning, and the learning of others,  for what drives long-term success for ambitious business owners there was one theme that dominated the answers to the question – if you had your time again, what would you do differently?

I wish that I had taken on people more talented than me much earlier on

These comments are reflected in an earlier theme entrepreneur as leader and they beg a further question – how does an ambitious and growing SME attract and retain talent?

In our observation, the businesses who struggle say things like:

• who would want to come and work for a small business in a rural town like Boringville
• we can’t offer the same attractive salaries or career progression of a large corporate
• we have to make do with what we have got

In comparison, the businesses who seem to make more progress say things like:

• people join us because of our culture
• it is a real challenge focusing the energy and ideas that come with ambitious people – but what a challenge to have
• I’ve had to find and adapt to a new role, at the same time establishing where I can really add value

We are sure that this is much to do with great leadership AND great management – something that many business owners struggle to achieve balance with. But what does seem clear is the need for a compelling story that engages potential and current employees in the purpose and values of the business; informs them about what they need to focus on to be successful; and inspires them with what might be achieved together.

But these are our thoughts and our experience with our clients … in your opinion what helps ambitious business owners to attract and retain talent? What works? What doesn’t?

The topic will be explored in further depth at our next compass meeting.