technology | Weinberg Partners

Finding and Retaining Key Talent for Your Business

The job market has been through plenty of ups and downs in recent years. But in 2023, the real challenge is attracting and retaining the top talent you need to grow the business

Finding the skilled employees you need, and keeping them in the business, is vital for driving innovation and growth over the coming years. So, how do you locate the best talent?

Nearly 4 in 5 employers, globally, report difficulty finding the skilled talent they need, according to statistics from Manpower Group. This scarcity of talent can be a real stumbling block when your growth strategy relies on expanding your workforce and bringing the brightest minds into the business. So, how do you overcome the current talent problem?

Here are five ways to find the talent you need:

Work on your branding as an employer – employees are attracted to a company that looks like a great place to work. So, there’s value in developing a compelling employer brand that highlights your company culture, values and employee ratings.
Offer competitive salaries, rewards and benefits – a job is about more than just the salary, but offering a competitive salary and reward package goes a long way to attracting the skilled workers and professionals you need in your team.
Make professional development a core value – offering the best opportunities for growth and advancement is a great way to retain your existing staff. By working staff development into your company’s DNA, your team can grow along with the business.
Get on board with remote and hybrid working – many employees have enjoyed the benefits of remote and hybrid working. Embracing flexible working arrangements is one way to appeal to new and existing talent, helping you build an agile, hybrid team.
Recognise the star talent in the business – acknowledging and rewarding your employees’ contributions is an excellent way to boost morale and job satisfaction. Happy employees are far more likely to remain in the business, keeping your team more stable.

Having the best people, talent and skills gives your business the foundations it needs to evolve, grow and diversify. So, overcoming the talent shortage isn’t just a ‘nice to have’. It’s actually fundamental to resourcing your plans and hitting your goals for the year ahead.

The following content was originally published by BOMA. We have updated some of this article for our readers.

How to Ride the Wave of Technological Advancements

The rapid technological advancements we’re seeing are a double-edged sword for many business owners, presenting both great opportunities and potential challenges.

Adopting and integrating these new technologies is essential if you want to remain competitive, but it requires careful navigation and a clear strategic plan for your tech stack.

5 key steps for transforming your use of business tech

There are solutions for enhancing your bookkeeping, accounting, forecasting, inventory management, project management and a host of other key operational areas. These apps slot perfectly into a custom tech stack that can be tailored and integrated to meet the exact needs of both your industry and your individual business.

But if you’re at a loss as to where to start, it’s a good idea to step back and think in more detail about your digital strategy – and the best ways for you to grab the best tech opportunities.

Here are five important steps to help you start your tech transformation:

Assess your need for the right technologies – it’s important to think about the relevance and impact of emerging technologies on your business operations. Choose software solutions that meet a genuine need within your business model, and don’t be tempted to jump onto a tech bandwagon just because it’s ‘the latest thing’.
Train and upskill your staff – you’ll only get the best from new software if your team knows how to use it. Invest in upskilling your employees so they feel comfortable with these new tools and can use them effectively. It’s about reducing any ‘tech fear’ that some employees may feel and showing them how it makes their job easier.
Tighten your cybersecurity and reduce risk – the more software tools you use, the more data you’ll hold in the business. Because of this, it’s vital to protect your sensitive customer data and information from cyber threats. This means putting robust security measures in place and keeping up with all the latest security protocols.
Scale up your IT infrastructure – it’s crucial to check that your proposed tech infrastructure can grow with the business. Any apps you use must be able to scale up as the business expands and volume and demand ramp up. With a properly thought-out tech stack, your systems can grow and scale with you as the business expands.
Focus on the customer experience (CX) – one of the biggest benefits of going digital is the positive impact this can have on your customer experience. Digital tools help you to personalise the customer journey, interact seamlessly with your customers and use highly targeted marketing and promotional activity to reach the right audience.

Most digital transformations don’t take place overnight. It takes time to switch each area of the business over to a software solution, and this can be an organic process as you find the right tools for the job. However, it does pay to have a sound strategy behind this transformation.

We can help you review your planned tech strategy and advise you on the best apps and tools to combine into your ideal business tech stack.

The following content was originally published by BOMA. We have updated some of this article for our readers.