A few months ago, I wrote that “bigger is better.” For companies to get bigger, there has to be a strategy and a commitment to grow—which is not for everyone. Some business owners aren’t ready to make the changes necessary to grow and others may not want to take on any (perceived) risks associated with growth. But if you have “A” players and are concerned about retaining them, you have yet another reason to grow.
“A” players typically want one or both of the following: more opportunity to make an impact and the ability to see their compensation grow at a far faster rate than the standard 3 percent annual raise. When a business is growing, new opportunities for employees arise, and in most cases the firm is making more money, which allows the CEO to spread a little more wealth around.