I have been talking a lot lately with business and HR leaders of mid-market companies. I’ve been considering why and how talent matters in these organizations, and I’ve presented at and attended several workshops and industry events to discuss and refine my understanding of the talent and organizational culture opportunities and challenges faced by mid-market companies.
A number of key themes emerged:
Mid-market companies struggle to maintain a unique culture as they grow.
Many business leaders of mid-market companies describe their culture in varying degrees as feeling like a family. How does one maintain these trusted “family” connections as the organization grows and expands to multiple locations, or even abroad? This is a key concern for the business leaders I talked to and who feel that they play a key part in supporting this journey. As one Executive said: “I want all of my leaders to be able to articulate our culture – externally and internally.”
It is imperative for mid-market companies to find talent that fits culturally.
This is a challenge organizations of all sizes face, but it becomes essential the smaller the company. Future employees may be superstars, but can they connect with others? As one Executive put it: “Since we are family you need to know if this is someone you would want to have around at the Thanksgiving dinner table!”
Competing with large corporations for key talent is a challenge that can be turned into an opportunity.
Mid-market companies are challenged to compete for attention with well-known brands and their more generous pay packages. However, emphasizing the “family” feel in a smaller environment and highlighting the lack of red tape around ideation and innovation can play to a mid-market company’s advantage in a time where high salary and prestige are no longer the primary drivers of why candidates choose an employer.
Mid-market companies need to build intercultural sensitivity as they expand internationally.
Leaders especially need to develop the ability to create trust and build relationships as the mid-market company expands into international markets. This is critical for gaining customers and building high-functioning teams abroad. Talent in mid-market companies is the driver for scalable growth and sustained competitive advantage.
As one Executive put it: “Talent is everything! Recruit the best – like a sports team would do - and make them feel like they play on a winning team.”
What talent challenges and opportunities of mid-market companies would you add?
Want to get more insights on how to tackle talent challenges in mid-market companies? Join talent experts Matthias Zeuch, Gustav Mueller, Christian Höferle, and myself for a free webinar on October 22 and get tips and tricks for how international mid-market companies can unleash business value through their most important asset: talent.
ABOUT THE AUTHOR
Nicole Dessain is the Founder of talent.imperative, a next generation talent management consultancy. We guide our clients in surfacing their most pressing talent questions, crunch data to answer them, and customize solutions to realize value through talent. Contact us to discuss how we can help you.
