Factors Influencing Effective Talent Acquisition of the Small and Medium-Sized Enterprises in China
Journal Title: Journal of Economics, Finance and Management Studies - Year 2022, Vol 5, Issue 08
Abstract
With the Pandemic job economy and growing Chinese economy to compete with that of US, competition for talent is high. Small businesses may feel at a disadvantage when recruiting new employees. How can small businesses effectively acquire talent going forward? Small businesses are constantly in a fight for talent. In today’s job market, experienced and talented workers have many options to choose from. As a small business owner, how do you ensure that you get the best people to join your company when you can’t match the same salaries and benefits as larger companies? On top of that, because you are running a lean operation makes it even more vital for you to hire the right people who have the necessary skills to help your business grow [1]. The purpose of this research is to study factors influencing effective talent acquisition of SMEs in China. These factors include seven independent variables: Talent Identification (TI), Performance Appraisal Method for Talent (PA), Talent Management (TM), Job Characteristics (JC), Job Satisfaction (JS), Work Environment (WE), Boss/Leader (BL), and one dependent variable: Talent Acquisition (TA). 420 sample were collected using electronic questionnaire through social media. We used Structural Equation Models (SEM) for data analysis. The result shows that the RMSEA, which is an absolute fit index that assesses how far our hypothesized model is from a perfect model, for this model is .047 (<.05) which strongly indicates a “close fit”. Moreover, CFI, which is incremental fit indices that compare the fit of our hypothesized model with that of a baseline model (i.e., a model with the worst fit), its value equals .900 indicating an acceptable fit. More importantly, Talent Identification (TI), Talent Management (TM) and Boss/Leader (BL) seem to have significant impacts on effective Talent Acquisition (TA) of SMEs in China due to their p-values are all less than .05. That means if SMEs are able to identify the right talent and can manage them well enough especially under the right leadership of the organization, they should be able to attract the right-fit talent on demand.
Authors and Affiliations
Sumas Wungsnuopparat, Wu Jiarui
Keywords
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- EP ID EP708983
- DOI 10.47191/jefms/v5-i8-18
- Views 91
- Downloads 0
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