Small businesses have to work to retain their star employees and lure top talent away from larger companies. Businesses can consider strategies such as offering flextime arrangements and offer learning opportunities to make them more attractive destinations. But small businesses can't ignore the fact that people work because they need money, said Barry Cook of Western Compensation & Benefits Consultants. "Employers who believe they can pay their employees consistently below market and make up for that with benefits are playing a fools' game," he said.

Related Summaries