Round table discussion „People, the foundation of entrepreneurship“
A round table discussion “People, the foundation of entrepreneurship” was held as part of the conference aimed at increasing profitability with efficient human resource management. Participants were managers from successful small enterprises which are part of QHR project, discussing key challenges regarding company development and human resource management practices, as well as lapses that had a negative impact on business.
Alan Sumina, Director at Nanobit, recognized that his company, although successful and fast-growing, is still learning about human resource management. Participating in projects like QHR helps them in developing efficient practices. “Without good people it is impossible to develop an IT company. It is very important to find and keep quality employees. In order to succeed in doing so, you have to offer good working conditions, and pay is just one of them.” stated Sumina.
Nikola Kapraljević, Director at Infinum, also emphasized the importance of a structured approach and investing in attracting and keeping experts. “Since the beginning we strived to place emphasis on selection and human resource management, but mostly based on intuition. When we employed 40 people, we had to change our approach and hire a HR expert. We should have done it earlier in order to dedicate our time to IT.
The participants agreed that it is particularly important to approach employees at a time of company growth and explain to them the purpose of growing. Goran Mirković from AVL-AST admitted to making the mistake of not doing it on time: “In the beginning of the year 2000 we had to double the number of employees. No matter how successful the company is, these processes happen pretty fast and it is invitable to oversee some things. That is when we realized the importance of structured internal communication.”
Company growth demands management change and development. Manuela Šola, director at Abrakadabra shared her experience in transitioning from a small team to a company of 30 employees. “In order for the company to change, firstly I had to change as a manager, and consequently change internal communication. The change in organizational culture and introducing semi-annual management and employee evaluations has changed organizational climate.” said Šola.
Ana Majetić, Board Member at DOK-ING stated: „We defined our strategy, mission, vision and values. The whole team participated, managers as well as employees.” This helped them see their strengths and weaknesses and develop more successful practices.
Participants concluded that key human resource management practices which result in better business results are investing in attracting the best candidates, structured selection process involving person-organization fit assessment and development planning. They also noted that structured HR management reduces turnover. Finding and employing a new person involves great financial losses that can be avoided by investing in efficient selection, a structured employment program and communication.
QHR is a project aimed at more efficient human resource management in small and medium enterprises. It consists of human resource management analysis (QHR Audit) and six developmental packages (QHR Strategy, QHR Recruitment, QHR Performance, QHR Rewards, QHR Development and QHR Engagement).
QHR Audit is a service through which companies can diagnose their strengths and weaknesses in human resource management and get expert assistance in determining strategies for further development. Subsequently the companies choose one or more specific and practical developmental packages through which they develop priority HRM functions.
Developmental packages are available in two options:
the basic developmental package is tailored for companies that don’t have or have just begun implementing one of the processes, while
the advanced package focuses on developing functions already implemented in business.