Mar 3, 2020 5:00:40 AM
By Coastal Payroll
Everyone is on the lookout for ways to save money in business. We get that. The HR department is no exception. So let’s talk about a few ways you can save money in the long run and can start investing that savings into the growth of your business.
It’s one of the hardest parts about HR. New laws come up or regulations evolve, and suddenly you’re out of compliance, even if you’ve been fastidious. That’s where annual HR audits can be really useful. They can help you check the right boxes and avoid penalty fees.
No one really wants to talk about this one, but putting your head in the sand isn’t the answer, either. Like it or not (and no one does), legal action gets expensive. While no HR firm can make a blanket promise to avoid all legal entanglements, it can provide safeguards to tie up loose ends and watch for red flags.
As your company grows, your HR manager can get overloaded pretty quickly. But how do you know when it’s the right time to hire a second HR person? That’s a great benefit of HR Elite. We can come alongside and work in a supportive HR role, but cost less than hiring another employee.
Time is money, right? So, saving time is saving money. For our HR Elite clients, we conduct a thorough audit and look for inefficiencies throughout the HR department. Whether it’s onboarding and hiring, performance reviews and management, or payroll and software use, streamlining your processes can save time.
Whether your HR manager is new to the job or a seasoned professional, he or she needs somewhere to turn when obscure questions or situations come up. Getting the right answer the first time can save time. We serve as that resource for our clients. They know they can pick up the phone, get their questions answered and get back to work, without wasting time doing endless searches.
At the heart of it all, HR is about people. But we know so much of business leads back to the bottom line. Tightening up your processes and knowing who you can lean on can save you some money and let you focus more on the things that really matter.
Are you in growth mode? Here are 4 things that need to change to keep that momentum going.