If your business has over 100 employees, you’re probably hurting: Increasing government regulations (requiring even more onerous record keeping and financial costs to your bottom line) are shackling your HR team. These professionals, who are trained to assist your staff with a personalized, one-on-one touch, are too busy pushing paper to do what they do best.
Fortunately, you can give them superpowers by relieving them of their I-dotting, T-crossing drudgery. Here are seven ways by which hiring a human capital management provider can empower your HR team.
- Ensure other players don’t put you in the penalty box. In recent surveys of business leaders, government regulations, taxes, and specifically the Affordable Care Act held the top spots of what concerned business leaders the most. By having a partner like Payday HCM that takes a coordinated approach to human capital management, you can be sure that your payroll company or your healthcare carrier aren’t leaving you wide open to ACA penalties that can top $36,500 per employee, per year.
- Treat HR as an Olympic sport. As with many things, your greatest weakness can be turned into one of your greatest strengths. When you view HR as a cost center instead of a profit center, you are robbing your company of the tremendous potential of incremental performance improvements that can generate outsized results. A Tour de France coach brought his team to victory by making small one percent improvements across the whole process. Think about how a one percent change in HR could impact your bottom line. Visualize one percent improvements in:
- Finding the right applicants who will create maximum value
- Preventing employee churn
- Firing more cost-effectively
- Getting the best benefits packages
- Minimizing costly payroll inaccuracies
- Don’t demand that your HR team master everything. Like most companies, you may be training costly HR craftsman to do work that merely requires an assembly line worker. Instead of hiring 10 craftsmen to build 10 cars from scratch, Henry Ford broke down the process so that 100 workers did simple tasks quickly on an assembly line to build more cars faster. By doing the same thing over and over again a worker could gain efficiencies that no craftsman could achieve. The same is true in HR.
- Leverage economies of scale: best practices. Let’s take the example of a New Mexico warehouse that has 100+ employees. You are paying your in-house HR team to stay up to speed on the latest government regulations that apply to your specific industry and location. If you had a cloud-based solution like Payday HCM, you would get the benefits of our economies of scale. When there are new regulations that apply to 100+ employee businesses, warehouses, or New Mexico businesses, we instantly deploy that knowledge for our applicable clients. Your HR experience benefits from our economies of scale.
- Leverage economies of scale: best deals. We’ve crafted hundreds of benefit packages for companies just like yours. We know where the best deals can be found. When you partner with Payday HCM, we chase after the deals. We pick them, you choose them.
- Leverage economies of scale: new offerings. Because we have connections to wellness programs and other benefits you may have thought were not in your budget, we can deliver extra value that makes all the difference in helping you attract and keep the best talent.
- The first word is HUMAN in Human Resources and Human Capital Management. When you bundle your HR tasks with a firm like Payday HCM, you let us do most of the paper-pushing, which frees your on-site HR team to give your employees the one-on-one, personalized care they deserve. Instead of wasting time searching for the best benefits packages or best HR practices, your in house HR team can use their high EQ (emotional quotient) to motivate your team to keep your projects on track.
Contact your Payday HCM professional (888-2PAYDAY) to see how we can help give your HR team superhuman powers.