Business owners and entrepreneurs create their businesses for a number of reasons: to grow an idea, build and inspire a team, make a difference. But building a business has grown even more complicated, with changing federal and state regulations, payroll administration, and increasingly expensive benefits packages.
So what are your options, and when is your small business ready to take advantage of an outside HR service?
Discover which HR solution is the best fit for your business.
Curious what the book covers? Here’s an overview:
What HR Does
Human resources requires handling a lot more than payroll. HR administrators oversee a great deal of aspects of the company, including:
- Securing and offering HR benefits
- Hiring and growing teams
- Maintaining HR operations
- Ensuring compliance and legalities
This portion of the eBook will walk you through the commonly found duties of an HR administrator, with short checklists for each category.
Your HR Options
Have you considered the various factors when selecting HR solutions in-house versus a national PEO? You’ll have to weigh the value of outsourcing many HR tasks, including:
- Cost savings - What is your HR budget, and which option will be most cost-effective for you in the long-run?
- Benefits - Which benefits matter most to your company, and how well can you secure them on your own versus through a PEO?
- Compliance - Are you remaining compliant with laws such as the ACA, FLSA, COBRA, and employee classification?
- HR tech - How are you managing payroll, compliance, and benefits? Do you have a modern interface or are you still shuffling lots of papers and files around?
- Control - How much day-to-day involvement do you want in HR at your company?
HR and the Size of Your Company
What your company needs to manage your teams will vary depending on its size. We’ll walk you through all these different company sizes, and what HR needs look like at each stage:
- 2-10 employees
- 11-50 employees
- 50-150 employees
- 150+ employees
For example, while a company of 12 employees may focus more on compliance with a variety of team members, a company of 72 employees may be focusing even more on competitive benefits while laying the groundwork for a larger company.
There are other factors to take into consideration too, such as what kind of HR technology you’re looking to use. If you’re still trying to weigh your HR options, you can download a free copy of the HR Solutions Buyer's Guide here.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.