In many businesses, human resource policies are ignored. Yet you can’t afford to be seen as negligent. Slaton Financial Services offers HR support Dallas TX businesses and organizations can afford. There are four main reasons to invest wisely in human resources.
#1 Governmental Rules and Regulations
If you don’t have proper HR support for your business, it can become a big problem. There are governmental rules and regulations to consider. For instance, businesses that ignore HR are more likely to deal with these problems:
- A Fair Labor Standards Act violation may trigger a $1,000 fine.
- Inaccurate record-keeping on safety can trigger fines.
- A failure to post safety notices can result in a $10,000 penalty.
- The Federal Immigration Reform Act carries fines of up to $1,000 per employee.
#2 Be Prepared for Lawsuits
If your business faces a lawsuit, a lack of proper procedures or proper policies can hurt you in negotiations. For instance, a work accident can trigger a lawsuit, and the lack of record-keeping can harm your defense even if you have been following safety protocols. Furthermore, if a personnel problem triggers a lawsuit, your human resource policies will be under scrutiny. These lawsuits may uncover areas where the business isn’t in compliance with government regulations.
#3 Maintain a Happy Workforce
To maintain your workforce and to keep it productive, you need a strong HR presence. Poor HR has been associated with high turnover in companies nationwide. When you lose an employee, you essentially pay from 50 percent to 150 percent of their salary to replace them. This is due to lost productivity in that position, the training process for a replacement, and management’s time and effort in hiring a replacement.
#4 Satisfy your Investors
If you have investors, shareholders or a board of directors, you will need to demonstrate that you are handling human resources in a professional manner. You can be they are concerned about the potential for lawsuits and government fines, even if they aren’t truly focused on the needs of the workforce.
The Importance of HR Support for Business
With human resources support from Slaton Financial Services, we can help you bring your HR up to code. We provide two levels of HR support. You’ll be surprised at how affordable it is for your company or organization.
You don’t have to reinvent the wheel. We’ve got you covered with the materials you need to be successful. There should be a certain uniformity in personnel hiring, reviews, compensation, and discipline. Well-written, clear guidelines help management and employees when the situation is tense. We provide unlimited document customization. This includes:
- Monthly Newsletter
- Access to an HR Pro (Advanced Plan)
Take our Three Minute HR Audit
In today’s busy world, organizations often need to conduct a human resources audit to determine if they are hitting the right marks. Policies and procedures become outdated. Our online audit can help you see where you stand in just three minutes. You could pay big bucks for an audit, but chances are good that this simple Q&A can reveal basic problems.
Put our simple HR plan to work for your business. Talk to Slaton Financial Services about how easy it is to get started.