When is it time for SMEs to seek HR advice?
In a nutshell, the time is now.
How confident are you that your business is fully compliant when it comes to HR? Even a single slip-up could cost your business considerable time and money to put right.
If you’re a new business, it’s very easy to see how these accidental outlays could damage your organisation’s growth and profitability.
Regardless of what stage your business is in, it’s crucial that you have the necessary tools to ensure your HR processes are efficient and accurate.
Complying with HR legislation
A key issue that you need to bear in mind as a small business is the requirement to keep up with all the changes to HR legislation. Failure to comply will leave your business open to serious financial penalties.
For example, the fine for not complying with GDPR can be up to €20 million or an undertaking up to 4% of your total global turnover of the preceding fiscal year.
Also, employees could take you to a tribunal for non-compliance with HR processes.
A tribunal claim is made for 1 in every 300 employees, with each claim costing approximately £10,000 to defend in legal costs and management time.
Additionally, following the abolition of tribunal fees in 2017, claims have increased by over 150%.
If your business was taken to a tribunal, would you be equipped to deal with the situation?
Another factor that small businesses need to ensure they get right is the latest best practice around people management and employee development.
Businesses consist of an almost overwhelming number of moving parts, so it’s easy for people management to fall to the side-lines in a small business where managers may be time poor.
Yet, HR is vital to creating an environment where people can learn, develop and progress in their role.
The need for excellent people management is further emphasized by statistics such as 78% of employees would remain longer with their employer if they saw a career path and development opportunities.
However, it’s important to remember that people management also has a flip side and may require you to manage sensitive topics such as redundancies, dismissals and grievances.
For example, it’s inevitable that members of staff in your workplace won’t all get on. But, what procedures would you take if an employee raised a workplace grievance to you that they’re being harassed or bullied?
Do you have the necessary policies in place and are you confident you could manage these situations without expert advice?
What support is available for SME owners?
So, if you’re time poor and struggling to manage your compliance and people management obligations, don’t worry.
Our solution, AdviserPlus provides business owners with unlimited support from highly experienced, qualified HR professionals, ensuring you always have expert advice on complicated HR issues.
The AdviserPlus service provides you with legally compliant advice, to give you peace of mind that you’re acting within the realms of the law.
The advice our HR experts provide is indemnified, offering a further level of protection and minimising your risk.
AdviserPlus also provides you:
- 24/7 advice
- Online support available around the clock
- Access to hundreds of documents and templates
For more information on how AdviserPlus can help you navigate law, risks and related case issues with confidence, click here.