Wearing too many hats?
How using a PEO can relieve your administrative burden.
As a small business owner or entrepreneur, do these phrases sound familiar?
- “I wear a lot of hats”
- “Where did my day go?”
- “I don’t have the time”
If these statements sound familiar you are not alone as this is common with small businesses and startups. Over time, administrative tasks start to compete with strategic and operational duties which can have an adverse effect on the bottom line.
This is because of multiple time-consuming tasks competing for the attention of your employees otherwise tasked with making decisions that have an impact on the bottom line. Let us focus for a second on the department tasked with managing your most important resource.... your human capital. HR is directly responsible for the talents that drives departments such as Sales, Marketing & Finance.
What HR professionals want to spend their time on is developing more strategic initiatives that contribute positively to the organization’s success like the few examples below:
- Talent Acquisition and Management
- Competitive Total Rewards
- Learning and Development
- Construct a positive brand experience internally
As a business owner or entrepreneur, you can decide which initiatives to concentrate on but they should impact the organization’s ability to retain great employees.
Research has shown that HR professionals spend 72% of their time on administrative tasks spanning across multiple departments, leaving only 17% of their time to work on long term projects and strategic initiatives that contribute to the organization’s overall success.
How can this administrative anchor be lifted?
By partnering with a Professional Employer Organization (PEO) your company can shift the burden of administrative tasks such as payroll processing, employer payroll tax filing, access to benefits, workers’ compensation insurance and other human resource related administrative functions necessary for running a business, which allows you and your HR team to focus on what truly matters to your organization!
At solveHR, we not only help with the administrative burden, but also with the strategic HR initiatives that our essential for your organizational growth.