In growing the workforce, entrepreneurs face the decision of what proportion of the workforce should be permanent and what proportion should be part time. Briefly explain some of the trade-offs the entrepreneur faces when deciding the composition of the firm's workforce.
What will be an ideal response?
A greater percentage of part-time workers represents a lower fixed cost, which provides the firm greater flexibility in dealing with changes in the external environment. On the other hand, personnel instability is more likely with part-time workers because turnover is typically higher and part-time workers are less committed to the firm because they have less of a personal stake in its performance. Also, building a functional organizational culture is more difficult when the workforce has a greater proportion of part-time workers.
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