Why even small companies benefit from a reliable, professional HR solution.
We understand the priorities of small businesses: cost-effectiveness is key to ensuring your business continues to thrive. But while many small business owners forgo the bells and whistles of fancy office spaces or the newest technology, investment in Human Resources is almost always worth the cost.
Contrary to popular belief, HR isn’t only necessary for legal compliance or when issues arise. Quite the opposite: a solid HR solution improves employee satisfaction and can improve the overall company culture. These results alone save you time and money so you can focus on what really matters: managing your small business.
Maintain Legal Compliance
Anyone who has taken a look at the US Department of Labor’s website will know that maintaining compliance and keeping track of regulations is no easy feat. From employee documentation to hiring and firing practices, there are extensive requirements and paperwork required for any company with employees, regardless of the size.
An HR solution dedicated to ensuring your company complies and increases the legitimacy of your business as you, onboard new employees. Furthermore, the ramifications for being out of compliance aren’t cheap! In some situations, the Department of Labor can penalize up to $1000 per workplace violation. The easy solution? Have a dedicated team or a third-party solution that ensures you comply.
Increase Employee Satisfaction
Something is exhilarating about working at a small company: the intimate atmosphere, the diversified tasks, and the ability to be involved in several parts of the business. But employees who come to work at a small business for the excitement are not looking for spontaneity when it comes to their benefits or their paycheck!
An HR solution allows your team to feel confident in the stability of their job, and r assured that their paycheck will arrive on time. A study conducted by Forbes suggested that employees who feel their voice is heard are 4.6 times more likely to perform their best work. This means that a Human Resource solution where individuals can voice concerns, ask questions, and be met with efficient answers and solutions allows for increased productivity from your number one asset: your employees.
Improve Company Culture
Culture seems to be a buzzword in the business world lately, and for good reason! Dissatisfied, burnt-out employees cost their employers money, and it is no small sum. This same Forbes study suggested that disengaged employees cost U.S. companies up to $550 billion a year. What does that mean for small business owners? Keeping employees engaged should be at the top of your to-do list, and that is exactly what an HR solution provides.
Human Resources allow a company to emphasize its mission and vision by integrating the company’s values throughout the workplace: from workplace issues to wellness and rewards programs. Employees who feel valued, respected, and held to high standards are more likely to stay engaged in their work and encourage a positive culture.
An HR Solution for Small Business Owners
At the end of the day, even the most seasoned small business DIYer can use a little help when it comes to areas as critical as HR. Whether you need a team to handle your benefits, payroll, or a comprehensive package that ensures all of your Human Resource needs are covered, One Point has a solution. From the legal ramifications to the improved employee experience, a solid HR solution can be a game-changer when it comes to your business: saving you time and money, and ensuring your top talent is here to stay. We have the best HR services in Denver!
If you are curious to learn more about how OnePoint can help you manage your Human Resource department, reach out! We love helping make your life easier, one employee at a time.