Wil Schroter CEO of GoBigNetwork.com and author of Go Big or Go Home! wrote a very impactful article that I read this week on how most employees at a startup company will leave. I would put this on the must read list for executives either thinking of starting a company or even running one.
Some key points (and there are a lot more so please read in its entirety):
* For the absolute critical employees you do have, do whatever it takes to make sure they don't head for the door - give them more stock, a raise, a better title.
* Be really smart about recruiting. Frequently meet with new candidates so you can quickly replace people if they leave.
I agree with Wil. When your team is already small in size and you lose a few employees (for whatever reason), it can be a big blow - to the company's progress. Being prepared and having a game plan is essential - you can't afford to miss a beat.
Btw, Wil, you told me a few months ago that your article was going to be nationally syndicated across all the American Business Journals, but I was still amazed to open up the Triangle Business Journal last Friday and see this article on a full page. Nice work!
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