I went from a big company to a small (The biggest contributors to that 20% are (1) extra admin overhead like time consuming performance appraisals and more red tape for purchases, reimbursements, time off, etc., (2) getting blocked sitting around waiting for some person/team whose priorities are not my priorities to respond to requests for info/support, and (3) additional reporting requirements in the form of meetings and extra emails/paperwork to keep other groups/managers updated on what I/my team am/is doing.
There is also a subtle productivity drain caused by the feeling of "why should I put in an extra hour today to finish this feature when release is probably going to be blocked by [some thing I cannot control]". So, I leave the work til tomorrow, but I lose all the mental context I have for the work and need to recapture that to get back to where I was, so what would have taken an hour yesterday takes 90 minutes today.
When I was on a 4 person team in a 25 person company, it absolutely felt like every extra effort I made had an impact and was noticed and appreciated, which inspired me to make extra efforts.
Now I feel like any extra energy I have should go into making sure I don't forget to get some form to HR by some important (but arbitrary) deadline or attending the latest mandatory training session my manager or IT has required me to go to or getting legal to approve use of that open source library we need.