- HR best practices help HR teams tackle workplace challenges and develop strategies to keep employees engaged.
- This year, small businesses should focus on crafting enticing employee benefits and making administrative processes more efficient.
- At PEOPLE, we provide professional employer solutions to help businesses manage payroll, employee benefits, and other HR-related tasks. Contact us to get started!
For small HR teams, keeping an engaged workforce while juggling multiple administrative tasks can be challenging. From finding new talent to handling payroll, there’s a lot of ground to cover. With the right HR best practices, businesses can enhance their operations and stay ahead of potential challenges.
Looking for some HR guidance? Look no further! We’ve compiled the 4 HR best practices that small businesses should prioritize this year.
Let’s dive in!
1. Provide an Appealing Employee Benefits Package
The perks and benefits you provide can make or break a candidate’s decision to accept a job offer.
Your employee benefits package holds the key to attracting and retaining top talent.
When designing your employee benefits package for this year, keep in mind the following aspects:
- Support employees and their families by offering family-focused benefits. Explore the possibility of providing on-site childcare facilities or nursing services, making it easier for your employees to balance work and family responsibilities.
- Consider the financial well-being of your employees. By offering support in retirement planning, implementing student loan repayment programs, and providing valuable financial education resources, you have the power to alleviate the weight of financial stress and empower your employees to attain financial stability.
- Partner up with a Professional Employer Organization (PEO) to ensure access to cost-effective and competitive healthcare benefits. Let a team of experts help you find and manage employee benefits. By joining forces with a PEO, you can access top-tier medical plans as well as additional advantages such as 401(k) Retirement and Employee Assistance Programs.
2. Outsource Payroll Processing to Save Time Every Month
Managing payroll can be a major time drain for small and medium-sized businesses (SMBs). From calculating figures to dealing with deductions and taxes, it places a heavy burden on your HR team.
Outsourcing your payroll can truly transform your business. It not only lightens the load for your small team but also reduces the likelihood of payroll errors and their financial implications.
45% of small businesses outsource payroll– National Small Business Association
Looking to streamline your payroll process and ensure timely and accurate payments for your employees? Here are some strategies to keep in mind:
- Join forces with a PEO to alleviate your administrative burden. By enabling a PEO to take payroll off your hands, you can concentrate on what truly counts, all while ensuring your business stays compliant with ever-changing requirements.
- Embrace automated payroll software. A payroll solution can save valuable time spent on tedious calculations or searching through piles of paperwork. With everything centralized, your team can have easy access to all your payroll information.
- Implement an efficient time and attendance tracking system. With a flawless time-tracking system, you can keep detailed records of your employees’ work hours. Opt for software that seamlessly integrates with your payroll and HR systems, ensuring a smooth operation.
3. Ensure Compliance with Labor Laws and Regulations
To maintain a secure and legally compliant workplace, small businesses need to keep up with constantly evolving labor laws and regulations. This not only involves aligning with federal laws but also meeting compliance requirements at the state and local levels.
These requirements vary depending on the industry and encompass critical areas such as anti-corruption, IT security, and anti-discrimination laws.
For HR teams, maintaining compliance can be overwhelming, but is crucial to avoid hefty fines and penalties.
Enhance your compliance initiatives this year with these strategies:
- Ensure your HR team stays in the loop by consistently offering them training opportunities. Organize regular compliance training sessions and encourage them to participate in webinars, conferences, and local events.
- Keep your policies and procedures always up to date. Take the time to regularly review and revise your employee handbook, ensuring it accurately reflects the current legal landscape.
- Join a team of experts to support your compliance efforts. Free up your schedule of complex tasks by partnering with a PEO to handle all things compliance, from Family and Medical Leave Act (FMLA) administration to unemployment management.
4. Invest in a cloud-based HR software solution to handle daily HR tasks
With a cloud-based HR system, you can effortlessly handle every aspect of the HR lifecycle while efficiently centralizing and organizing all your valuable employee data.
Each company has its distinct requirements, so make sure to choose your HR software wisely. Consider the following points:
- Upload and monitor key employee information. With a centralized, secure database, your HR team can easily manage and update employee records, ensuring easy access to critical details such as personal information, work history, and performance metrics.
- Be able to manage your employee training program. Make sure to choose an HR system that allows you to assign specific training modules to employees, track their progress in real time, and receive instant verification upon completion.
One of the main challenges for HR teams at small businesses is finding the right balance between strategic initiatives and daily administrative tasks. By implementing HR best practices, they can identify areas of focus and stay ahead of challenges. Crafting an enticing employee benefits package is one of the keys to attracting and retaining talent. On the other hand, partnering with a PEO can be a game-changer when it comes to delegating time-consuming activities like payroll processing and benefits administration.
At PEOPLE, we provide tailored PEO solutions and customized technology for businesses that need to streamline their human resources needs — whether that’s payroll services, benefits administration, or keeping track of labor laws and regulations.
Contact us to learn how we can support your business while following HR best practices!