Middle Market Firms Tune Up Employee Communication

August 11, 2003 (PLANSPONSOR.com) - Most middle-market companies are feeling the heat of competition, and they're turning to their workers to help them make the difference.

According to the Grant Thornton Survey of Middle-Market Business Leaders, nearly three-quarters (74%) of middle-market business leaders believe it is more important today for employees to understand what needs to be done for the company to succeed. To enhance that understanding:

  • 82% are focusing on consistent communications
  • 81% are establishing realistic expectations for employee performance

More than half (52%) say they are taking immediate steps to better allocate resources by deselection – focusing exclusively on initiatives that will be most profitable, according to Grant Thornton, a global accounting, tax, and business advisory organization dedicated to serving the needs of middle-market companies.

Competition Heats Up

Nearly all (94%) of survey respondents say that competition is as intense as – or more intense than – a year ago. Contributing to that pressure, respondents cited:

  • 89% – a greater focus on price
  • 82% – more knowledgeable customers
  • 81% – less client loyalty

Boding well for future business investment, 84% of middle-market business leaders have invested – or plan to invest – in new technology (58% and 26%, respectively).

To order a printed or PDF version of the report, visit Grant Thornton’s Web site at www.grantthornton.com/blcsurvey