Article Summary:
A look at the employee retention tools available to small companies.
Smaller companies have several competitive advantages when it comes to keeping valued employees. Finding ways to reinforce some of the following small company attributes can help keep a wavering employee on board:
Broader Work Assignments
Because of their size, smaller companies typically can provide employees with more broadly defined work assignments, and frequent opportunities to tackle non-routine projects. That flexibility almost always means faster professional growth and development.
Increased Visibility At All Levels
The actions of all employees at smaller companies are visible to everyone, particularly the people at the very top. In such a fishbowl environment, talent and hard work are more quickly recognized and rewarded.
More Rapid Communications/Resolutions
In a smaller company, every minute counts. Business challenges must be quickly identified and resolved. Employees don't have to wait months to get a response to a recommendation on a course of action.
Opportunity To Impact Outcomes
Large companies inevitably descend into "analysis paralysis," a state characterized by endless review and discussion and little concrete accomplishment. Employees at small companies are frequently empowered to take action directly to solve a problem.
Objectives Not Sidetracked By Politics
No matter how hard they try to combat it, employees in large companies feed on political intrigue and idle speculation. Small companies may feature personalities in abundance, but there's little time or patience for people with political motives.
Bill von Achen is the president of Strategic Management Resources, a management consulting firm located in Sudbury, MA that helps organizations and their managers prosper through executive coaching and business counsel. Bill works exclusively with business owners and senior company executives on strategic planning, organizational design and management development issues. For more information visit www.smrweb.com
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