Keep Them Satisfied
LinkedIn research shows SME's have edge on employee happiness.Global research from LinkedIn suggests the UK’s small and medium sized enterprises (SMEs) are outperforming larger businesses in keeping their staff happy. Despite this advantage, however, many still perceive a struggle in attracting and hiring top candidates.
The results come from LinkedIn’s Work Satisfaction Survey which questioned more than 10,000 professionals and over 3,500 employers worldwide. It found that the UK’s SMEs boast the country’s highest levels of job satisfaction, with companies of fewer than 10 employees coming out on top. The opportunity to have a positive impact on others is one of the key differentiating factors according to smaller employers surveyed.
One in five UK workers say that they’d prefer to work for a small business than larger one, and over a third (37 per cent) would even be willing to take a pay cut for the chance to work for a start-up. Despite this advantage, more than three quarters (77 per cent) of SME employers feel that they still have to work harder than larger companies in their industry to attract the best candidates.
Dan Dackombe, director of LinkedIn Talent Solutions commented: “Thanks to social media, it’s never been easier for smaller employers to effectively engage potential new hires. However, our research shows that they feel the need to work harder to recruit despite consistently punching above their weight on employee fulfilment. Our country’s SMEs have a great story to tell and have an opportunity to capitalise on their size when it comes to hiring.”
LinkedIn’s Work Satisfaction Survey finds that the hiring challenges faced by the UK’s SMEs could, in part, be due to the fact that many are under-using their best asset: their people.
More than three quarters of UK workers in small businesses (77 per cent) say that they’d be happy to recommend their employer to a friend, compared to only two thirds of employees at the UK’s biggest companies. Yet it seems employee advocacy initiatives have some way to go. While half of SMEs (53 per cent) say that they invest in employee advocacy, only three in ten SME employees have actually endorsed their employer on social media.