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Talent Management in Startups and SMEs
Abstract
Talent management is vital for the success and sustainability of startups and small and medium-sized enterprises (SMEs) but requires innovative strategies due to resource constraints and dynamic environments. This chapter examines tailored approaches for these organizations to recruit, develop, and retain talent effectively. Startups and SMEs face unique challenges such as limited budgets, smaller workforces, and the need for flexibility, yet they can leverage their entrepreneurial culture and agility to attract top talent. Strategies discussed include cost-effective recruitment, fostering employee development through mentoring and online training, and promoting engagement via non-monetary benefits like flexibility and equity. The chapter highlights leadership's pivotal role, explores scalable talent management practices, and presents case studies to provide actionable insights for sustainable growth.
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