Talent Management in Small- and Medium-Sized Enterprises

Abstract

Despite the economic importance of small- and medium-sized enterprises (SMEs), talent management in this context is under-researched. The liability of smallness and scarce resources as typical features of SMEs require a specific definition and approach to talent management in this sector. The limited knowledge about talent management in SMEs indicates major challenges in attracting and retaining talent. We draw on the literature on human resource management (HRM) in SMEs, to put talent-management issues in a wider context. Furthermore, we outline HRM and talent-management networks and cooperation in industry clusters as a means for SMEs to join forces to compete with larger, multinational companies. However, this chapter also indicates that more research is needed in the field of talent management in SMEs.