In a recent series of studies, Collins and colleagues reported that the effective implementation of human resources practices (including recruitment, selection, training, and compensation) in small firms was linked to 22. 1 % higher revenue growth, 23 .3% higher profit, and a 66.8% reduction in employee turnover (Collins & Allen, 2006). Furthermore, SeIs et al. (2006) demonstrate that effective implementation of various human resource management practices helps small firms improve their financial performance and the individual productivity of employees