Many small business owners get started on the path to entrepreneurship to pursue their passions and offer their own potential to the marketplace rather than to manage employees. But when a business grows, it is inevitable that other people and their needs and wants enter the mix of managing a business. Entrepreneurs spend a surprising amount of time on HR management:
This represents half of all employment relationships: 50% all employees in the U.S. work for small businesses and employment in the small business sector has grown even while hiring by larger businesses has slowed. Some key statistics illustrate this trend:
And human resource needs and processes are changing. Some considerations for the future of small business human resource management:
Download this month’s SCORE infographic for the full picture of how entrepreneurs are contributing to national employment and how human resource issues affect their businesses.