SMEs, tackle labour crunch by marketing to workforce

FOR years, companies have spent their research money on efforts to analyse consumers - the products they like, the reasons behind those preferences, and their ideas for product improvements.

But firms should start to funnel some cash towards engaging prospective employees too, says Danny Lai, country business manager of Acorn Marketing & Research Consultants.

"If SMEs (small and medium-sized enterprises) think they are short-staffed now, it's just going to get worse. With a more competitive labour market, companies will need to know how to define and sell themselves to a job applicant - much like the way they already define and sell themselves to a consumer," Mr Lai tells The Business Times.