How can a small business keep talent-management costs down?



Managing your talent in the right way will be pivotal to keeping your employees engaged and productive in this challenging economic landscape.

How can you do more with less when it comes to managing your people effectively?

Here are 6 ideas to get you started:

1. Prioritise communication—good communication costs nothing, so spending time over your output is vital to make sure you get the right message across.

2. Be flexible—consider remote work, job sharing, or part-time work.

3. Encourage employment involvement—fully empowered employees make good decisions and think flexibly to resolve problems.

4. Prioritise training and development—invest in upskilling and career pathways to help your employees grow and develop.

5. Look for external help—partner with other businesses and organisations to share resources and expertise. Seek guidance from industry experts and other HR leaders to help you make the most of your limited budget and resources.

6. Leverage technology—consider using technology to manage time-consuming tasks like scheduling shifts, tracking timesheets, approving holidays, raising expenses, reporting, manually entering new joiner data, and tracking performance management to save you valuable time.

Fortunately, effective talent-management practices do not usually require excessive budget.
Use your budget wisely by prioritising employee development, experiences, and skills.

Reply below to share your approach to talent management.