For those of us who want out of corporate America but lack the entrepreneurial drive and spirit, a small business may be the place to look for your next job. Small businesses have always been responsible for employment rate increases due to the fact that they are run more efficiently through outsourcing and recruit locally. A review of Fortune Small Business fastest growing companies for 2004 include: health care (25%), industrial (25%), technology (16%), restaurant and food services (6%), medical administration (5%), gaming (4%), consulting (3%), oil and gas (3%), building supplies (3%), and other (16%). For the second consecutive year a health fitness company landed the number one position with an 84% ROI. This company helps more than one million patients manage chronic diseases such as diabetes, asthma, and heart disease. As the baby boomers age and live longer we will be faced with a chronic illness in our lifetimes and the medical technology and tools are expanding to help us maintain and treat chronic illness in our homes rather than clinics and hospitals.

Second on the list is a software company that manages data for 150 life science, pharmaceutical and biotech companies around the world. Hospitals, clinics, and outpatient offices will eventually share the same data base, and patient charts including imaging data will be readily available as the patient moves seamlessly from outpatient to inpatient, rehab, and other levels of care during episodic flare-ups with their chronic illness. Arthritic pain, orthopedic advances in joint replacements, chronic fatigue, and other nervous conditions account for increasing employee lost time at work, not to mention cost for prescription drugs.

What this means to those of us who want off the corporate track is to look within our local communities to minimize commute time, parking fees, organizational dues, and endless meetings and overnight travel. Job satisfaction, especially for women, allows greater flexibility in work hours to attend to personal and family matters. Family-owned businesses can be a logical solution to balance professional and personal goals more effectively. In coaching busy executives the number one complaint is lost family time and not placing a higher priority on fun and play. While you might be paid less with a smaller company, one needs to look at reduced business expenses mentioned above associated with larger corporations. Health benefits are competitively priced to allow companies with 100 or fewer employees to compete with the "big guns."

Another advantage to working with a smaller company is to align your core values with those of the company. Those of us who still value integrity, fairness, equality, and loyalty are more likely to see those values reflected in smaller companies. Organizational charts are more flat, pay scales are more equitable and based on performance rather than longevity and small-business owners are more likely to treat their employees as their number one resource for success. Besides a salary, you might find yourself working from home three days a week, using your cell phone from work for personal business, and Friday "ice cream socials." Collegial support replaces competition; casual replaces formal; style replaces branding; and shared profits replace dividends to outside shareholders.

 

4. Helpful Hints

"Helpful Hints" is a monthly feature of The Executive Connection. In this section of our Newsletter, we will discuss accountability structures necessary to stay focused on your business plan and objectives.

"This Month's Helpful Hints"

1. Get a copy of Fortune Small Business 100 and peruse the latest issue at your local library. See what small companies are doing for employees besides salary and benefits.
2. Talk to a small business owner and see what s(he) offers to his(her) employees in the way of compensation to boost productivity.
3. Attend a small business meeting with your local chamber of commerce and begin to network with owners. Often, free business seminars are offered on a variety of subjects: perks, performance incentives, employee-shared risk taking, support for innovation, mobility options.

SUBSCRIPTION INFORMATION