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Why do we need an HR business strategy?

  Why do we need an HR business strategy?   Many times we get asked, “Why do we need an HR business strategy?” The reason is that HR can be transformed from a hassle-ridden financial sinkhole into a major data-driven contributor to your executive level decisions.   The benefits of having an HR business strategy can be: Executives can view and understand the business’ internal trends. Allows the company to estimate the effect of strategic policy changes. Illustrates the return on the company’s investment in the benefit package strategy. Allows management to create a logical link between employee performance and the factors that drive that performance. Accurate, relevant and actionable reports. Allows businesses to take their history to model future potential business decisions and the impact of factors outside of the company’s control.   Data-driven reporting in these areas can equip your senior staff with the power to understand the impact their dec ...

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What is a payroll system?

What is a payroll system?   As a payroll outsourcing company, many times when we sit down with clients, they initially ask “What is a payroll system?” This is a great starting place for planning how your payroll system will, at a minimum:   Gather your employee work hours Cut checks Stay in compliance with taxes and withholdings on a federal, state and local level.   Companies generally handle creating their payroll system in a few popular ways:   You can have employees fill out time cards and use your internal accounting staff to handle all checks. While this is a popular strategy, pay attention to some of the shortfalls of this system: It usually doesn’t scale easily as you grow your business It can be unmanageable to keep the accountant up-to-speed with state and federal withholdings and compliance issues You’re dependant on one person for your system. This makes the person very hard to replace if the need should ari ...

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What is HR business intelligence?

What is HR business intelligence?   The answer to, “What is HR business intelligence”, is that it’s a way to draw useful business information from HR areas to help with decision-making. Some popular areas of HR business intelligence provide:   Accurate, relevant and actionable reports. Allows businesses to take their history to model future potential business decisions and the impact of factors outside of the company’s control. Enables executives to view and understand the business’ internal trends. Allows the company to model the effect of benefit and policy changes. Allows management to create a logical link between employee performance and the factors that drive that performance. Insights like these can enable you to run your company with a much greater awareness of how one of your biggest expense areas (employees) will be impacted.   HR business intelligence can gain answers to many groups of business intelligence questions, like: If we doub ...

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Why Is HR Important?

Why Is HR Important?   Sometimes the most basic questions about HR can lead to great conversations that help organizations flourish. One of the most basic in the Human Resources field is, “Why is HR important?” As a business owner, understanding that HR is one of the areas where you want to hire experts is a critical criterion for making your company stronger.   Why is HR important? – Support your management HR can provide training for management to help them work with the diverse set of employees on their teams. Knowing how they could best interact with a Baby Boomer looking for loyalty and stability, versus a Y Generation who may need daily praise, can make a big difference with retention rates and hitting goals. HR can help train managers prevent common mistakes that swell to legal nightmares. HR is a great resource for getting feedback from managers and identifying growing HR trends inside your own company.   Why is HR Important? - Legal Compliance Legislators ...

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What are Strategic HR Services?

What are Strategic HR Services? When we get asked, “What are Strategic HR Services?”, we usually provide the following explanation. From our experience, strategic HR services try to save business owners from spending too much money and time on HR capabilities. The HR services should be focused on letting business owners grow the business, not logging excessive hours with HR issues. HR services should provide: Legal and Compliance Coverage to help avoid employee claims and to avoid fines. Employee Policy development, documentation and communication to let employees understand what they need to know. Benefits program development to create an appropriate set of benefits to retain employees and be in sync with the company’s corporate culture. Recruiting, Hiring and Terminations best practices to help personnel get through these stages quickly so the company can focus on growth. Employee coaching and counseling to help the company and employees keep the same expect ...

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