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What challenges do SMEs face when hiring?
Small and medium enterprises are the backbone of Australia’s economy – they make our country tick. In order to do this they need the right people on board. Therefore, we wondered: what challenges do SMEs encounter when hiring? How do they perform in the war for talent?
So we interviewed small and medium businesses all across the country in our Michael Page SME Hiring Challenges Survey and identified four major challenges:
- Hiring is expensive: 43% of SMEs consider the cost of hiring talent steep
- Time to hire is too long: 47% thought the total average time of 35 hours spent to hire a new recruit was excessive
- Attracting great employees is difficult: 46% of SMEs agree that they struggle to find suitable jobseekers for their roles
- Poor retention limits business growth: Over 35% of SMEs believe that their difficulty in attracting and hiring the best people is a barrier to business progression
If you want to find out more about SME hiring challenges and how to overcome them, read the full Michael Page SME Hiring Challenges Report.
The four major challenges SMEs face when hiring are:
- Hiring is expensive
- Time to hire is too long
- Attracting great employees is difficul
- Poor retention limits business growth