Posted by: Bill von Achen | November 14, 2009

Employee Retention Tools for Smaller 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.

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