The Midlands' small and medium-sized businesses are losing staff to corporate giants because of a lack of time and money to dedicate to training and salaries.
A poll of local firms by business networking events B2B, suggests that more than half of the region?s owners and managers felt disgruntled staff leave their organisation in search of more favourable financial packages offered by their larger counterparts, something that smaller firms are unable to compete with.
As well as remuneration concerns, the research revealed that staff were also likely to seek alternative employment because of a lack of job variety and limited promotion opportunities.
Angela Dyett, managing director of human resources and employment law specialists Liquid HR and speaker at this year?s B2B Midlands event, said: ?Retaining good quality staff is not impossible as long as employers can provide the ingredients that lead to job satisfaction.?
In addition, SMEs said that, while there was no shortage of applications for vacancies, candidates were increasingly inexperienced and lacked the personal skills to cope with the job.
Over two-thirds of SMEs find it difficult to fill vacancies because of a lack of appropriate skills, while a further 55 per cent found candidates did not possess the necessary qualifications.
Nick James, managing director of B2B Portfolio, said: ?By their very nature, businesses from the SME sector have a small workforce.
?The effect of a depleted workforce is therefore more keenly felt than within a larger organisation. A robust and comprehensive recruitment process is therefore absolutely key.?
B2B Midlands will be held at the new Ricoh Arena in Coventry on October 18 and
19. Speakers include exshadow chancellor Michael Portillo, car manufacturer Charles Morgan and Simon Woodroffe, founder of Yo! Sushi. n B2B Midlands has teamed up with business advisors the Excellent Network (TEN) to provide one business owner in the Midlands with the chance to win a free consultancy package. TEN?s advisors will spend a day helping to analyse the winning firm?s strengths and weaknesses and will help make recommendations for the future success of the business.
To enter, email your name and company contact details to email@example.com or visit the TEN stand at the B2B Midlands event and fill out a short entry form. Normal Birmingham Post conditions apply. The deadline for entries is 5 pm on October 19. To find out more about TEN visit their website www.ten.ltd.uk