27 Jun Human Resource Management: An Ally for Small Businesses
Complex human resources (HR) requirements present hurdles for even the most successful enterprise. If you handle HR internally, it’s easy to inadvertently skip mandatory day-to-day tasks, leaving you open to compliance lawsuits, workplace culture problems, and loss of revenue. Instead, help your business thrive by outsourcing human resource management (HRM) to a company like Soteria HR. We do the HR heavy lifting for you so that you can focus on running your growing business.
The Basics of Human Resources
Regardless of your industry or company size, you will have specific HR functions including, but not limited to:
- Employee training and development
- Employee engagement and retention
- FLSA compliance
- Unemployment support
- Employee handbooks
- Payroll solutions and support
- Best practices development
- Recruitment and hiring
- Performance management
- Employee compensation and benefits
- Expense management
- Time tracking and attendance
- Risk mitigation
- HR data and analytics
6 Ways Human Resource Management Benefits Small Businesses
You can handle human resources internally, but outsourcing your HR offers many benefits. Partnering with HRM experts can save you time, money and stress while fostering a stronger team and reducing compliance risk. Each of these benefits can help save your business valuable time, energy and money.
1. Access HR anytime, anyplace
HR can be more difficult when you depend on office-based resources to get things done. With Soteria HR, we are your boots on the ground – a team at your disposal for comprehensive guidance and employee support.
2. Reduce compliance risks
All businesses and HR departments must comply with hundreds of rules and regulations. If you’re not well-versed in this area or don’t have a fully staffed HR department, compliance becomes a full-time job in itself. Even the smallest companies are obligated to uphold compliance regulations, and there are hundreds of rules and restrictions. Soteria HR, human resource professionals, serve HR allies and assist you with federal, state and local regulations.
3. Lower costs
Outsourcing service providers spread functions and expenses across multiple clients. This means you can get a higher level of service at a much lower price. By “sharing” expensive HR functions, you can allocate your saving to enhance your core operations.
4. Hire talent
Despite the economic uncertainty and layoffs, companies continue to have a hard time filling open positions.
- Extended time to hire: New labor statistics reveal the new average time it takes to hire a full-time employee is over 40 days.
- Cost of bad hiring: A bad hiring decision costs at least 30 percent of the individual’s first-year expected earnings.
By outsourcing HR, you have access to industry-specialized expertise and insights that will help you post compelling job descriptions and make informed hiring decisions.
5. Stronger onboarding
Even if you find the perfect candidate, onboarding can make or break their future. You need to make a great first impression to set the tone to prepare your new hire for success. Expert guidance and time-tested onboarding procedures enable new employees to hit the ground running.
6. Improve employee retention
High turnover rates cost all businesses and create discouraging workplaces. Our strategic human resource approach uncovers the reasons for turnover.
Real-time feedback may uncover hidden or external factors, help find solutions to problems and help your employees feel valued. You can retain productive employees and create more effective teams using proven performance management tools.
Save time, conserve energy, and reduce anxiety
One of the most significant benefits of partnering with an HRM company is reduced stress. Human resources responsibilities put a considerable strain on business owners and managers. Free up your time and strength to grow your business. Partner with HR so you can focus more on your people management and strategic business objectives.