Balancing the diverse responsibilities of running a business often leaves small business owners stretched thin. From managing the workforce to handling payroll and navigating ever-evolving employment laws, the juggle can be overwhelming. In this post, we’ll explore the challenges of time management for business owners and how leveraging outsourced HR can be the key to refocusing efforts on strategic growth.
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Juggling HR tasks and business growth is tough. This post explores how outsourcing HR can help you regain time for strategic endeavors. Small business owners often find themselves stretched thin, balancing various responsibilities to ensure their company thrives. Managing the workforce, handling payroll, and staying compliant with ever-changing employment laws can be overwhelming. In this blog post, we’ll delve into the challenges of time allocation for business owners and how outsourcing HR can empower you to focus on growing your business.
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Balancing HR tasks and core business activities can be challenging. As a business owner or manager, you understand the significance of a streamlined operation. It’s not just about making things run smoothly; it’s about maximizing efficiency and productivity to achieve your goals. One area where many businesses struggle to strike the right balance is HR management. The demands of HR can be time-consuming and complex, diverting your focus from strategic initiatives. This is where outsourcing HR services can make a significant difference.
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To achieve strategic goals, your company needs to recruit, hire, develop, and retain top talent. Having a strong HR strategy that works in partnership with your business strategy supports those activities, helping strengthen your business while maximizing your talent and resources. You need an HR team that understands how the two strategies work together. Employco can help ensure that your HR strategy is supported by policies, tools, and objectives aligned with your overall strategic goals to drive success. Here are some ways HR strategy helps support your business strategy and strengthen your business.
Employment expert weighs in on why today’s workers are digging their heels in and refusing to get back to work
When Apple CEO Tim Cook asked employees to spend at least 3 days in the office starting next month, it seemed like a reasonable request. But Apple employees banded swiftly together and created a petition protesting the mandate, saying the push to get back to the office doesn’t consider “the unique demands of each job role nor the diversity of individuals.”
Rob Wilson, employment trends expert and President of Employco USA, a national employment solutions firm with locations across the country, says that his clients have given him the same feedback.
HR plays an essential role in the success of your company. HR is a strategic part of the success of your business. Your company must recruit, hire, develop and retain top talent to remain competitive. To do that, you need HR professionals with expertise in managing processes and maintaining compliance with regulations that have consequences if not performed correctly. To do this in-house comes at a cost. Partnering with an HR outsourcer can offer insight and guidance to ensure your HR needs are supported and that you achieve your HR objectives while helping you save money.
Here are some of the benefits of outsourcing your HR:
Reduce Costs
Looking for ways to reduce costs or maximize spending is essential to remain competitive. Outsourcing HR roles and activities can help reduce overall costs compared to keeping them in-house and on your payroll. From streamlining processes and managing HR tasks to lowering your benefits package, outsourcing HR functions helps you increase profitability. Partnering with an HR outsourcer like Employco enables you to control employee costs and gain a competitive advantage in stabilizing your company’s future expenses.
HR expert Rob Wilson says small business owners need to be prepared for the IRS crackdown
If you are a business owner, an IRS audit could be headed your way very soon. Last Sunday, Senate Democrats voted unanimously to pass the Inflation Reduction Act, which will allocate billions and billions of dollars to beefing up the IRS department…including the addition of 87,000 new IRS agents.
“Biden’s legislation plans to devote $80 billion to the hiring of 87,000 new IRS auditors,” says Rob Wilson, President of Employco USA and employment trends expert. “The funds which are received from auditing Americans are meant to help curtail costs incurred from new tax legislation. Unfortunately, it’s going to be America’s small businesses who end up feeling the brunt of these measures.”
For workers in their 50s or younger, the term stagflation may be unfamiliar. But anyone who experienced the combination of high inflation and recession in the 1970s is well-acquainted with this unfortunate economic phenomenon. The factors that produced stagflation are back again today. Businesses will need to evaluate their operations to see what can be optimized to help fine-tune their operations in a challenging economy. Evaluating your HR processes and expenditures can play a significant role in helping your organization navigate stagflation.
Stagflation – Then and Now
During the 1970s, the Fed pursued aggressive strategies to reduce employment after the Vietnam War – even in the face of high inflation. Spending on social programs also rose significantly during this period. At the same time, the oil embargo and rising production costs added to the increase in consumer prices while generating a recession.
Dealing with the prospect of an economic downturn is challenging for any organization. It’s better to be out in front of it than behind and the time to plan is NOW. Here are some HR strategies to help your organization weather a recession.
Evaluate Your Employees’ Skills and Provide Training
In an overall strategy to help reduce costs, employees are often asked to do more with less. That’s especially true during a recession, where employees may need to take on additional tasks or work when an open position is put on hold or layoffs are necessary. Now is the time to evaluate your employees’ skills to ensure you have the right people in the right positions. Investigate where you can upskill or cross-train people for potential new roles, and then provide that training. Succession planning can also help you evaluate who could step into a position if an employee departs, helping to maintain continuity.
In any company, good communication is vital. Effective communication promotes trust and builds stronger teams across the company as it helps strengthen relationships. It boosts productivity and can help resolve issues quickly. Having the right communication strategies and policies in a hybrid workplace becomes even more critical and challenging. In-office communication is often synchronous, with many face-to-face interactions in real-time throughout the workday. But in a hybrid workplace, with employees spread out across various workspaces and time zones, much of the communication throughout the day becomes asynchronous, and it’s easy for communications to slip through the cracks. Here are some strategies for maintaining good communications in a hybrid workplace.