Managing Human Resources In Smes And Start-ups: International Challenges And Solutions

Human resources are the most important and costliest assets in businesses of any nature and size. Talent management is a key managerial function in MNCs and other organizations with a global presence, but its importance in small businesses and start-ups cannot be overlooked. Managing people in small businesses encompasses compliance with labor laws, hiring, and creating a channel for dealing with employee issues. The price of not having the right employees in a small business can be extremely high, and workers who are inefficient or in the wrong role can have critical consequences on the sustainability of a small business. This book aims to highlight these HR challenges and shed new light on how to answer them.

Format: Hardback
Length: 388 pages
Publication date: 28 July 2022
Publisher: World Scientific Publishing Co Pte Ltd

Human resources are undoubtedly the most valuable and indispensable assets in businesses of all types and sizes, irrespective of their geographical location. Talent management is a crucial managerial function in multinational corporations (MNCs) and other organizations with a global footprint, but its significance in small businesses and start-ups cannot be underestimated. At its core, managing people in small businesses involves ensuring compliance with the relevant labor laws, hiring, and establishing a mechanism for addressing employee concerns. The cost of not having the right individuals in a small business can be staggeringly high. Inefficient or misaligned workers can have profound implications for the sustainability of a small business. While most entrepreneurs initially prioritize marketing, finance, operations, and customers, they may inadvertently overlook the establishment and management of their human resources function, along with the associated challenges that, if addressed, can contribute to the organization's success in achieving its objectives.

This book aims to shed light on these HR challenges and provide innovative solutions to address them. By exploring various aspects of talent management, including recruitment, retention, training and development, performance management, and legal compliance, this book aims to equip small business owners and managers with the tools they need to build and sustain a high-performing workforce.

Moreover, the book emphasizes the importance of aligning HR practices with the overall business strategy to ensure that human resources contribute to the organization's long-term growth and success. It highlights the need for a proactive approach to HR management, where managers are actively involved in shaping the culture and values of their organization and fostering a positive work environment.

In conclusion, human resources are the backbone of any business, and talent management is a critical component of achieving sustainable growth and success. This book provides valuable insights and practical strategies for small business owners and managers to build and manage a high-performing workforce, ensuring the long-term viability and prosperity of their organizations.

ISBN-13: 9789811239205