Small Businesses Attract High Flyers
Small firms are finding it easier to attract high-flying job candidates, due to the number of successful employees made redundant from big businesses, research from telecoms business O2 has revealed.
The Not So Little Britain report found that a quarter of all employees recruited by small businesses now come from larger companies, due to changes in the job market caused by the recession.
The study also highlighted how small firms contribute to the economy, predicting that small firms will generate more than 200,000 jobs a year from 2010. According to O2, small businesses have already overtaken bigger organisations regarding job growth in certain industry sectors — they accounted for 82 % of job growth in the construction sector during the last economic cycle and 93% of new jobs in the hospitality industry.
Federation of Small Businesses spokesman, Stephen Alambritis, said small firms could benefit from the current competitive job market, with high numbers of well-qualified job applicants seeking work.
“There are rich pickings for small firms in the current climate, but most savvy employers realise that they will need to come up with a decent pay and benefits package to compete with the bigger players in the future,” he said.
Alambritis added that some small firms would struggle to match the financial packages offered by big firms, but could offer new recruits a number of benefits.
“Certain employees will be pleasantly surprised by what they find in a smaller business. While pay levels may be lower, they’re often closer to the decision making process, closer to the managing director and have more chance of getting their ideas adopted than in a big corporate.”
O2 head of small business marketing, Simon Devonshire, said:
“It’s fantastic to see the small business sector continuing to lead the recovery charge, playing on their strengths to overcome the challenging economic climate.”