You put a lot of time and energy into your employee manual. It communicates vital company information and helps you keep your assets covered. But wouldn’t it be nice if your employees actually read it? Make it engaging and useful and they’ll take the time to read it, refer to it for simple questions and have a clear understanding of their rights and responsibilities and your expectations.
Most employers do not spend time thinking about the interviewing process, which can be a strategic error in the long run. Far too often, the process is overly reactive. Interviewers and hiring managers jump to a quick decision and hire one of the first candidates available as opposed to hiring the right candidate. They end up with an unstructured interview process that may or may not net the best candidates.
There’s a real need to use the interview process to identify the best candidates. The cost of employee turnover ranges anywhere from 40 to 70 percent of the position’s annual salary for service sector jobs. For supervisory positions, the cost may be over 100 percent of the annual salary.
If you outsourced your human resources (HR) functions, what could you do with the time saved? The short answer: a lot!
A Professional Employer Organization (PEO) can perform HR functions, from hiring and screening to administering benefits to keeping up with applicable laws and regulations. The primary role of business is, after all, to stay in business. To do that, small businesses need to focus on their bottom line. They need to ensure that revenue is flowing in and profits are maintained and increased over time.
To do all that, small business leaders need to focus on their most important business tasks. As important as HR is, there might be multiple areas of business whose revenue potential requires your time more urgently than HR.