He made a very key observation in response to a question abt employee retention for small firms.
He said that for a small entrepreneur to be able to retain employees atleast long enough to form a core team with some loyalty – he should be growing faster than his employees. And by growth he meant holistic growth not just bottomline. “If you focus only on bottom line growth you will end up with a large bottom” – his words.
bottom line Growth of the organisation has to deserved – by the increased value it brings to the Market place – it need not just be an end in itself. that kind of growth eats into the people employed with the firm.
Another key factor in being to hold employees would be seen in the willingness of the entrepreneur or small businessman to share the the substantial profits with the team whenever they occur. holding on to everything – doesn’t give a great feeling to a the employee.
All in all a great evening!!