According the the US Small Business Administration in 2006 (the last full year data is available) in the United States:
Number of firms with more than 500 employees: 18,000
Number of firms with less than 500 employees: 6,000,000
Think about it, there over 300 times as many small businesses in the US as large ones.
In the HR Technology space at times the news and commentary tends to be dominated by the vendors that cater the the top end of the market, those 18,000 or so big firms that have the most employees, the biggest budgets, and (typically) the most hierarchical and elaborate structures and decision processes. I get that, it makes sense for vendors, consultants, analysts, and pundits to chase that market, heck, that is where all the money is. I have spent most of my professional career in that space as well, either working for giant companies, or working for myself and consulting at giant companies.
But I think today the small market is really the place to be.
To me, inside the six million small companies is where the the most exciting innovations are going to happen. 
Flickr - The Geekery
And the technologies and vendors that are most interesting to me are the ones that are accessible, lightweight, and inexpensive enough to be in the reach of say a 150 person company with one or two HR professionals on staff.
Solutions like Rypple, The Resumator, Socialcast, EffortlessHR, PbWorks, Shareflow, Kindling, and Brainpark to me are incredibly interesting and dynamic. These solutions (and scores of others) can be brought to bear by the average HR professional in the average small organization and can make an almost immediate and important impact.
I care about what is going on with the Oracle, SAP, and Workday. I'd like to see Oracle Fusion delivered sometime before I retire. When and if the entrenched ERP vendors fully embrace SaaS and produce solutions that are more flexible, easier to manage, and are less reviled by their giant corporate customers are very important issues for the overall HR Technology industry. I get that.
But to me the real fun is watching what the new breed of HR Technology vendors are bringing to the table, and how the small business can exploit these tools to maybe one day rise from the ranks of the six million to the eighteen thousand. Personally, I enjoy connecting with and trying to assist HR pros at these smaller organizations. Ironically, while there are scores of technology solutions out there that cater to the small organization, there are very few independent sources for unbiased advice and assistance with small business focused HR Technology.
What do you think?
Is it more fun to be one of six million, with a real chance to make an impact, or to be one cog in the wheel at a giant organization, but with at least a chance to be a star on the big stage?