Small and Medium Sized Enterprises are in the Focus of Job Seekers on LinkedInRabia Altunay
Recently, especially after the pandemic, the effects of changing work habits on the business world are a matter of curiosity. As such, we can say that the number of studies conducted within the framework of this subject has increased significantly. One of these studies was published by LinkedIn, and the subject is quite interesting.
According to LinkedIn data, job seekers now prefer to apply to small and medium-sized companies rather than large, corporate firms. According to the results of the research, the number of applications made has increased by 25% although there has been a 22% decrease in the job postings of SMEs since last March. This data is interesting. Considering the economic imbalance around the world, shouldn’t job seekers prefer large-scale firms that are more reliable and financially powerful? This is not the case. Let’s take a look at the reasons for this situation.
First of all, it is obvious that SMEs can generally act more agile and change their business models and product packages more quickly in a crisis. This agility is unlikely due to too much bureaucracy in large-scale companies. Easy adaptation to changing conditions is one of the most preferred features in today’s business life. We all experienced this very soon, when the pandemic broke out. We can observe that companies that can quickly switch to the remote working model and maintain this are 1-0 ahead in talent acquisition.
Another reason why SMEs are interesting is that especially the new generation job seeking profiles give more importance to a more purposeful task, projects that will develop and challenge them and rapid promotion opportunities. Yes, there may not be salary packages and job opportunities that can compete with big companies, but now different criteria for candidates are in the foreground. According to the research, the most important reasons for applying to SMEs for 37% of the applicants are that the company they work for is using new technologies, following innovations and being able to take part in projects that can improve themselves. Another reason was to see that they would create an effect that could contribute to the success of the company with a rate of 26%. This is a difficult effect to feel in a company with thousands of employees. However, for those working in SMEs, it is much more likely to contribute to the success of the company and be appreciated for it. On the other hand, the fact that being promoted as a result of these efforts takes place faster than large companies is another interesting issue for job seekers. The research shows that employees working in SMEs are 34% more likely to be promoted than those who do not work in SMEs. This rate rises to 74% when it comes to the chance to be a manager. Pretty attractive odds, right?
In summary, we can say that all these features such as serving a meaningful purpose, working in an agile structure, adapting easily to innovations, being seen and appreciated for your work, and finally having the opportunity to take more responsibility and be promoted as a result of this effort; are the reasons why job seekers prefer SMEs more. It turns out that large-scale firms should focus more on talent acquisition and talent retention, and develop different strategies.