11/05/2011
Small and medium-sized enterprises (SMEs) have been praised for their excellent HR strategies.
That's due to the fact that employees in companies of these sizes are significantly more likely to "benefit from enhanced employee engagement," the Forum of Private Business (FPB) said.
You at Work confirmed that the FPB said that "the relationship between management and staff is generally healthier" within SMEs.
Furthermore, a spokesperson for the FPB, Phil McCabe, said SME managers were encouraging of "informal" communication between lower and higher-level employees. He also added that employees' suggestions were taken on board more effectively.
McCabe revealed: "I think when employees suggest better ways of doing things, it can be overlooked or list in the system within a large company," but that smaller businesses were much more efficient at combating this issue.
The news may mean that SME owners have undertaken more comprehensive training on how to communicate with and manage staff effectively; which in turn may inspire their fellow business owners to do the same.
Those who are interested but concerned about the costs involved should consider using invoice finance options such as factoring services; as this would help them free up the cash needed to reinvest back into the future of their company and its entire workforce.
Doing this is particularly important considering a recent statement from Fresh Business Thinking, which revealed that "companies that train and develop staff are two-and-a-half-times' less likely to face closure...[and] are better placed over competitors to save money, improve motivation and increase employee retention."
Deborah Bates