Human Resource Functions Of The Human Resources Department

Do you remember when you first decided to start a small business. The vision was clear and the excitement drove us from imagination to plan to reality. But, before we knew it, we went from happily wading in the waters of our areas of expertise into the deep and sometimes turbulent waves of the unknown; Human Resources. Human Resource functions include: Payroll, Employment Tax, Recruitment, Hiring, Employee Relations, Termination, Regulatory Compliance and Training to name a few. Each of these functions demanded specific skill sets and experience. They also began to expend valuable time and resources. The reality is that when reviewing a successful business plan there are two major areas to consider; Revenue streams and cost centers.†¦show more content†¦It is definitely money well spent. Be wary of firms that will provide you with free audits since you usually get what you pay for. The audit results should tell you exactly where you stand and specifically provide a HR roadmap to get and keep you on track. Next, ask the most important question: Do YOU have the expertise, time and interest to actually focus on those areas and do them well? Finally, consider the risks and rewards of alternative Human Resource solutions. After twenty five years of providing human resource solutions to hundreds of companies from small start ups to fortune 100 companies, my advice to many of those firms, especially small and start up businesses is to maximize their resources by at least partially outsourcing Human Resources. By outsourcing HR, companies get to focus on what they do best and avoid the hassles and dangers of managing potentially high risk areas. Remember, as an entrepreneur you want to maximize productivity, increase revenue and control costs. Outsourcing Human Resources and other administrative tasks allow management and staff to focus on core business functions. Most importantly, companies receive high end HR services for less than the cost of an administrative staff position. MINIMIZING RISK A critical component of any small business plan is minimizing risk. When reviewing potential Risk Management issues consider this; Regulatory Non-compliance and Discriminatory practices make up the majority