Amidst generally gloomy economic news, the latest Business Confidence Survey of owners and managers of US small and medium-sized businesses is not so dire: more than 37 percent of owners and managers of small and medium-sized businesses expect a higher rate of growth for their operations in 2009, and 38 percent anticipate the same level of growth as 2008.

The business owners’ five biggest concerns:
1. The economy
2. Controlling costs
3. Rising health care costs
4. Retaining their most valued employees
5. Hiring the right people

Retention strategies include improving employee engagement through specially designed performance management practices. Quality of hire is driven by a fast and effective recruitment process. Business owners know that higher retention and hiring top talent link directly to business results.

Improving talent management practices and solutions is a timely and welcome approach for small and mid-sized businesses. Effective talent management practices supported by web-based robust technology solutions directly address some of the biggest concerns of small and medium-sized businesses—and help drive their performance.