The Small Business Challenge
Learning Objective 1
Explain why HRM is important to small businesses and how small business HRM is different from that in large businesses.
In terms of the U.S. economy, the phrase small business is a misnomer. About half the people working in the United States today work for small firms. 1 Small businesses as a group also account for most of the 650,000 or so new businesses created every year, 2 as well as for most of the country’s business growth (small firms grow faster than big ones). And small firms create most of the new jobs in the United States. 3
Statistically speaking, therefore, most people graduating from colleges probably do or will work for small businesses—those with less than 200 or so employees. ...
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