The Large Value of Being Small

Why job seekers should look local before global

BY LISA DEROSE, CPA, CGMA

COMPETITION AMONG BUSINESSES is no longer limited to winning clients and customers, the real battlefield is finding and retaining talent. Employers need to reflect and ask themselves if their workplace is ready for this new world, and what does “ready” even mean? If they’re waiting for a return to yesteryear where employees had no expectation of a work-life balance, they’ll be waiting for a long time to forever. This question of readiness is even more significant for small employers. Without the name recognition and deep pockets of major corporations, how do businesses win the employee battle?

Small businesses should never feel at a disadvantage for being small because there are large benefits. When working for a small business, employees can expect an environment with opportunities for growth, where they can impact change, and experience job variety that larger employers are challenged to provide. Granted, there are advantages to being a part of a massive corporation. However, if someone wants to feel a true sense of teamwork and ownership (and not relegated to being a number in a cube), it’s much more likely to happen on a small team versus one with thousands of members.

Living in Delaware is much like this point. How many times do simple conversations with fellow Delawareans lead to a mutual connection? It’s part of the charm of the First State. Perhaps the biggest strength to being a local Delaware company are the deep relationships that develop. Thanks to these personal connections, it’s not unheard of to have business relationships that are decades long.

In terms of specific actions employers can take to obtain, and possibly more important retain their employees, it’s time to be creative. The worst thing employers can do in terms of retention is to forget about an employee once they come onboard. This is a common mistake, especially in the case of small businesses where people are busy and juggling responsibilities beyond their job description. Just think of how many times you see a business owner stepping in to make deliveries or covering the phones in order to ensure uninterrupted customer service. Ignoring an employee—or as they may see it, taking them for granted—is at a company’s peril.

Each business should understand what the employee lifecycle looks like for their industry and identify any weak spots. It’s not enough to simply acquire employees, they must be given development opportunities, encouraged to grow, and rewarded for endeavors (even if they’re not successful). Losing employees to neglect is both expensive and inefficient. In this competitive landscape, no one is guaranteed to find a quick and qualified replacement.

At Whisman Giordano & Associates, we have the motto of “Building Extraordinary Relationships” and we place a value on both internal and external customer service. Our firm offers virtual work, casual dress, profit sharing, training and education opportunities, flexible scheduling, technology purchases, and teambuilding activities such as virtual escape rooms, crab feasts, charitable run/walks, food drives, and even named a race at Delaware Park after an employee celebrating 25 years with us. Employees have access to even larger opportunities such as attending conferences, and for those early in their careers, accessing and learning from senior staff. We believe that doing the right thing by employees, clients, and customers is essential to every successful business.

The future of work may have been moving incrementally in this direction prior to the outbreak of COVID-19, but now employers have been thrust into this new world faster than anyone could have imagined. It’s time to assess what makes an employer an attractive place to work because it’s much more than a paycheck. It’s about value, balance, engagement, and worth.

Lisa DeRose, CPA, CGMA is a director at Whisman Giordano & Associates, a 2020 Superstars in Business winner.