Employees working for small businesses are proving to be more loyal than those in large companies, according to a research conducted by the Australian Institute of Management.
Australian Institute of Management’s (AIM) National Salary Survey 2009 of 759 businesses, (548 large businesses and 211 small businesses) found that employees working in small businesses are increasingly choosing to stay with their employers, with voluntary staff turnover rates falling to 9 percent per annum, from 12.7 percent on the previous year.
AIM have predicted there will be less opportunity for staff to move between small businesses in the foreseeable future, with only 34.2 percent of small companies expecting to increase permanent staff numbers over the next 12 months, down significantly from 67.3 percent in the previous year.
According to chief executive of AIM NSW/ACT Mr David Wakeley, employers are looking at creative ways to “attract, retain and motivate” staff. This may include a career development plan, complete with a formal training program to give employees the skills needed to progress within the organisation.
“In this way employees get that sense of a great career move, while employers get to engage and retain high-performing individuals,” said Wakeley.
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