Business owners spend time researching buying capital equipment, premises and bringing in expertise but often take a DIY approach to their biggest expense - staff.
Some may work well but many end up as disasters and cost plenty.
The job market has shrunk in the past 12-18 months, which means organisations have reduced their churn of talent markedly and taken stock of what to do once the economic outlook starts to improve. So how should we go forward?
First, employ talent. Most talk about lower margins, which means either getting used to lower returns or thinking differently and engaging people who will help you think differently.
But if it's all too risky, then you need to rethink your strategy of how you engage people.
A predominantly permanent workforce gives you no flexibility to manage costs, or engage expertise to meet changing demands.
A healthy balance of permanent and temporary staff can be your greatest asset because it allows you to control and manage your business.
The challenge for most employers is how to find and attract the people they need. And it takes talent to do that.
* Kevin Chappell is MD of recruitment firm Talent Now.
<i>Kevin Chappell:</i> Finding the right staff takes talent
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