HR 101 FOR SMALL BUSINESS OWNERS
Planning the future of your business can get overwhelming. With the myriad duties of a small business owner, human resources can easily slip through the cracks, and eventually spin out of control. Your mind is on the money, which is great, because money matters, right? It’s what keeps the business going.
However, if you lose sight of the people side of the business, you will be coughing up some of that hard-earned cash. You own a business and now you must maintain it. HR can determine the success of your company, and the time you invest in it now will pay dividends for years to come. Let’s run through a few HR basics that every business owner should consider when planning for the future.
Being Compliant and Knowing the Law
As soon as you hire your first employee, you’re subject to the Fair Labor Standards Act, along with a bunch of other local and state laws. You must consider compensation, overtime pay, recordkeeping, and more. Other laws and regulations to consider as you grow and add employees are Federal Civil Rights laws, Family Medical Leave, and Employer Shared Responsibility Provisions. Becoming familiar with local and state laws and regulations will benefit you and your employees, and save you from fines and/or lawsuits. Read more about compliance here.
Hiring and Talent Management
Recruitment is essential to your business.This can take time and might require some outside help to find the right people in the industry. You’ll need to consider employee applications, the interview process, and how you’re going to keep the employee happy, and working for your business long-term.
You don’t only want an employee who will get the work done, but also one that is productive and engaged. This will require talent management, team building, performance management, and more. All of these activities will help keep you and your employees happy and productive.
We believe the most important part of any company is its employees. HR is about balancing the needs of the employer with the needs of the employees. As an employer, you set the standard when it comes to workplace behavior, and you must maintain a healthy professional environment. This means providing fair treatment to all employees, while also thinking about safe working conditions, a work-life balance, and other day-to-day things that may affect your employees. Keeping your employees happy and engaged will keep you happy, and your business happy.
If you don’t want to be the one dealing with the time-consuming headaches of HR, consider leaving it to the professionals and seek out HR consulting and outsourcing.