Now is the time for small firms to plan ahead
Question: I'M running a growing IT company and I want to hire, but am nervous with all the bad news around. What should I do?
Michelle Kearns, manager of Brightwater Recruitment Specialist replies:
While some companies are waiting to see how the Government cuts impact before they make up their mind, many firms are taking advantage by acting now.
Recruitment in the fourth quarter usually enjoys an upturn as many small to medium-sized enterprises managers review their organisation’s performance and identify opportunities to introduce new hires and salary adjustments in forthcoming annual budgets.
A number of sector experts, including Brightwater, are set to publish salary surveys in this quarter and these provide useful tools for gauging the market value for hires in key positions.
The information of these surveys is also useful for human resources departments allowing them to strengthen performance reviews and set competitive incentives for existing staff.
With many multinationals already using the last quarter to expend 2010 budgets and guarantee similar or improved budgets next year, small to medium-sized enterprises should be acting now to target their markets before the competition does.