Final answer:
Small firms can attract personnel by offering opportunities for employees to have a more significant impact and take on diverse roles. They might not compete with large firms in terms of salary and benefits or career advancement opportunities. However, they offer a unique work environment with a stronger sense of individual contribution, flexibility, and growth.
Step-by-step explanation:
Small firms compete with large firms for qualified personnel and can offer several potential advantages in attracting personnel. Despite generally not being able to match the salary and benefits, or provide the same level of career advancement opportunity and professional training programs as larger firms, small firms have their unique draws. One significant advantage is the opportunity for employees to have a more significant impact and take on diverse roles within the organization.
Employees at smaller firms might experience a greater sense of accomplishment and influence as their contributions can be more directly linked to the company's success. Furthermore, they may experience increased flexibility, a personal growth through a broader range of job duties, and closer professional relations with management. These factors can be particularly attractive to certain individuals, such as millennials who value growth and development, and job variety over job security, which might not be a strong suit for smaller firms.
Another aspect to consider is the level of supervision and feedback which is often more immediate and personalized in a smaller workplace setting. This can lead to a stronger sense of recognition and fairness, which are vital components of job satisfaction. Therefore, small firms may not be able to compete with the financial and developmental programs of larger firms, but they can offer a unique and potentially more rewarding work environment that emphasizes employee impact and development in ways that large firms may not.