Small Business Concerns: Technology-Enabled Talent Management

As a small business owner, each of your hires matter, and you want every new person you hire to have as large an impact on your business as possible. And while you’re worried about finding funding, keeping your business afloat, or the rigors of advertising, recruiting can get lost in the shuffle. You shouldn’t ignore recruiting, either: talent acquisition is the single most important driver of growth for many businesses.

Good performance management can help your employees work at their best consistently, help align their goals with the company’s business strategy, and build better teams through tracking and collaboration. It can give a business key insights into their best business practices, see what works, and what needs to change. Despite these benefits, many businesses have yet to fully leverage it, and many who have aren’t using it to its full potential. Only 3% of organizations say their performance management is top-notch, while 48% say their performance management needs some work. If you’re one of those 48% looking to improve their performance management, we’ve got some ways to make it better and more consistent.

  As small businesses begin to scale their talent to match the demand for a good idea, they should prepare for a few new concerns. And as small businesses continue to come back into style, properly accommodating for new staff will become a growing concern. Half of all small businesses plan to add new employees in 2015, and with those new employees comes an idea many DIY entrepreneurs may not have thought of: how do they keep track of what everyone’s doing and making sure they’re all getting the feedback they need to improve on the job? Performance management is their answer.