Here’s how investing in an HR strategy can pay off financially and strategically.
The first thing most business owners think of when they are deciding whether to hire an HR Consultant for their business is cost … a valid concern. However, it’s important to keep in mind that a small investment up front can lead to substantial cost savings in the long run.
Below is a list of 10 ways an HR consultant or resource can save your business considerable money.
An HR Consultant can help you:
1) Ensure that you are compliant at the state and federal level, potentially saving thousands in penalties.
2) Save tireless hours of work and worry when conducting payroll/benefits through tech-savvy solutions.
3) Lower worker’s compensation and health care premiums through research, partnership, and programs that can save thousands.
4) Leverage HR Information Systems that places employee data at your fingertips.
5) Deploy Lean/Six Sigma techniques in your HR department to save time and money. No more ‘…but that’s the way we’ve always done it’.
6) Create a retention strategy to ensure your productive employees stay employees…let’s keep all those training and recruiting dollars in-house.
7) Establish rapport by guaranteeing employees have an advocate that can listen, communicate, and respond to employee concerns quickly.
8) Maximize productivity by eliminating role duplication and ensuring job fit.
9) Recruit and recommend only the top candidates and train your team how to evaluate candidates objectively.
10) And finally, an HR Consultant can be a partner that can be a sounding board and help you make hard decisions for the benefit of your employees and your organization.
As a business owner your time is money. If you enjoy HR tasks then ‘go get ‘em’! However, if you think your role could be better served providing vision, leadership, and helping your team be successful then maybe you should consider the services of a seasoned HR Consultant.
Act and start saving time and money!
We hope you enjoyed our series titled ‘The Value Proposition of an HR Consultant’. Our 5-part short series covered strategic hiring, effective communication, hr policy, performance management and cost savings!
We revealed very tangible cost savings! We also explored intangible savings that may not be deposited into your bank account on day one, but are hidden just beneath the surface in increased employee satisfaction, employee productivity, and employee retention. The saying ‘ you get out of it what you put into it’ rings true in the Human Resources field.
If you have questions or would like to get more insight on one or more of these solutions, contact us for a free consultation.
Your Local Chattanooga HR Consultant