As a small business owner, you’ve likely thought of ways that you can cut business expenses to save money. One of these ideas may involve whether you should invest in outsourcing HR or hiring in-house HR professionals.
HR just isn’t that important when you don’t have many employees, right?
Wrong. Every business needs to deal with critical HR functions, whether it’s a major corporation or a five-person business. Here’s what you need to consider the next time you think about whether your business needs HR management.
A lack of motivation can really cost your business. Entrepreneur reports that disengaged, disinterested employees have led to a loss of up to $550 billion per year for U.S. businesses. Fortunately, there are ways that you can help motivate your employees so that they’re ready to give it their all every day. Here are three steps that you can take to engage your employees.
A small business’ success can depend heavily on its employees. The National Federation of Independent Businesses notes that “employees at small businesses carry more of the company’s weight on their shoulders than those working at larger companies.” As a result, the failure of an individual employee can make a greater impact at a small business than at a larger organization.
Employee management is one way to help turn an underperforming employee around or prevent high-performing employees from becoming a weak performer. The concept of employee management is more than just making sure that people are doing their jobs; it’s a variety of procedures and strategies that can help you measure, monitor, and interact with the workforce that plays a huge role in your company.
Wellness programs have become very popular in recent years. In its 2017 Employee Benefits Survey, The Society for Human Resource Management (SHRM) found that 24 percent of organizations added to their wellness benefits, which was the biggest increase for any benefit during the year.
While more businesses are investing in wellness initiatives, some owners may ask how effective workplace wellness programs really are. The answer to that can depend on your goals.
After a great year, giving back to your employees can be very beneficial for your business. CNBC cites that “more than half of small business owners say that offering a [retirement] plan helps attract better employees.” A profit sharing plan is one way that you can use your business’ financial success to you and your employees’ benefit.
Flu season is normally bad for businesses, but 2018 may be much worse than usual. The New York Times reports that “this year’s flu season is now more intense than any since the 2009 swine flu pandemic and still getting worse,” which creates havoc both for you and your workers.
You can’t always prevent the flu or stop employees from getting sick, but you can offer them the means to receive quick, affordable attention from a medical professional. Telemedicine is an attractive benefit that gives employees 24/7 access to physicians via phone, video, or internet chat and benefits your business. Here’s why you should consider offering telemedicine to your employees this flu season.
Every year brings new opportunities. Unfortunately, time can usher in big changes that can leave businesses scrambling. Over time, new legislation can leave your company open to legal problems if you don’t take appropriate action. Fortunately, there is one key tool you can use to protect your business – a good employee handbook.
There’s more to a handbook than just basic information for new hires. This document acts as an important compliance document for your business that shares you and your employees’ rights and obligations. Unfortunately, it can be easy to let your handbook become outdated – and an outdated handbook is a serious problem for any business. As time goes on, it’s important to make sure that your handbook evolves as new laws go into effect. Here are five parts of your handbook that you should update (or create if you don’t have one already)..
When you run a business in a competitive industry, it can be difficult to find and retain employees. The Society for Human Resource Management conducted a survey and found that “95 percent of HR professionals rated health care as one of the three most important benefits to employees.” In short, benefits are big.
Of course, every prospective and current employee may have different health needs. While a group health insurance plan provides employees with medical coverage, there may be some additional health needs that don’t fall under your base plan. This is where a supplemental insurance plan can give your business an edge in attracting new talent and retaining quality employees.
When you’re a small business owner, your schedule is never empty. Each year contains several important deadlines that you need to follow to keep your business compliant with important laws and regulations involving your company’s finances and employees. Just a single missed date can lead to problems with the IRS or other government agencies.
Keeping track of all these dates as well as everything else you need to do as a business owner can be difficult. We’ve put together a list of critical dates you need to know to keep your business legally compliant.
Professional HR conferences are a great opportunity for organizations to discover new ways to improve. For an HR professional, they provide a way to network with fellow experts in the field and learn about new tools, resources, and strategies. For a business owner, they offer a deeper understanding of how HR functions affect their business and provide a chance to allow their employees to find ways to strengthen the organization.
Every year, there are several HR conferences that organizations can choose to attend, whether those attendees need to earn Society for Human Resource Management recertification credits or simply want to learn more ways to help grow their organization. Here are some notable HR events to look out for in 2018.