Every good entrepreneur knows it’s true: besides having a brilliant business idea, employees are any firm’s most valuable asset. But once a business takes off, the romantic idea of founding a successful business in the proverbial garage quickly fades and reality settles in. Fact is, day-to-day issues of HR management can distract you from another key to success: growing your business.
The average small business owner spends more than 25 percent of his or her day handling employee-related paperwork. With additional tasks added for recruitment, hiring and training of new employees, this number quickly grows to 35 to 45 percent. In other words, rather than innovating and expanding the business, they spend almost half of any workday on administrative tasks that are a necessary evil.
While 401(k) plans or a premium benefits package keep current employees happy and attract high-caliber candidates, most entrepreneurs prefer to focus on their passion for the business, rather than on HR. They have very limited interest in federal and state regulations regarding everything from workers’ compensation to workplace health and safety, not to mention additional complexities related to employee benefits with the recent passage of the Affordable Care Act. HR outsourcing firms like TriNet, provide small, growing companies a proven way to scale, protect and streamline their business. What’s more — this approach allows entrepreneurs to focus on what matters most to them.
Power and Efficiency Through Integrated Technology Solution
Employees have come to expect anytime access to their HR information. But the cost of implementing and maintaining a state-of-the-art HR information system (HRIS) is simply out of reach for the average small and medium firm. But that’s precisely what TriNet has done — creating an affordable, cloud-based solution and mobile app to enable employees, managers and executives to access the information they need, when they need it.
Risk Mitigation: Share the Liability, Focus on Your Business
In this litigious climate, there is little room for administrative error. Some HR companies stay on top of all employment laws and regulations so they can help their clients remain compliant.