Most small business owners wear many hats. However, the successful business owner recognizes when it’s time to call in a specialist for help. A tax accountant, a lawyer, a financial advisor or insurance provider are all members of your financial team. These individuals bring an expertise and knowledge base that saves your company time and money while implementing options you may not have been able to realize before. All it takes is expertise and perspective.
“It’s not the small business owner’s job to know the trends in Human Resources, such as compliance and benefits. It’s my job to know them and help apply them to your business,” explained Renee Blaine, an HR Consultant and owner of E Squared HR Solutions. “And all businesses are different. That’s why they need someone looking at their unique needs.” This is what an HR specialist does.
A Human Resources specialist can add value to your business in these areas:
Benefit Plan Design: “Small businesses don’t always get to control the design of their benefit plan the way large businesses do, which means you can end up spending money on a plan that nobody values. Sometimes you have to dig to find benefits, but those benefits are what make your employees happy,” Blaine advises. “Don’t just implement a plan to check the box.” Unique benefit plans can attract talent.
Education: You work hard putting a plan together. But do your employees fully understand all the benefits available to them? Blaine encourages owners to hold employee information sessions, “We need to educate people so they get the most out of their plans.”
Compliance: Laws change. Having someone familiar with your current policies and tracking industry changes will ensure business compliance. “Last year brought changes to parental and sick leave requirements. Changes to overtime laws take effect this coming December. I know which clients are OK, and which will need a little work.” Once set, policies often get forgotten. They need to be regularly reviewed and updated.
Employee Issues: “Owners often need someone to go to with employee issues,” Blaine continued. From acquiring new employees, retaining current ones, integrating cultures after a merger, pay structures, disciplinary or dismissal matters – an external advisor can help navigate all these roads.
Partnering with a Human Resource specialist will help ensure your company’s employees stay happy. Not to mention the security you will have knowing your operation is in compliance, with a structure and support system in place to manage the inevitable employee issues that will arise.
In conclusion, whether you employ 5 people or 500 people, an HR professional is a resource every business owner should have on their team!
