In this tough climate anyone looking to expand their business faces a variety of challenges and considering HR may not be on your list of priorities. However, by making sure you have the right people in the right roles, ticking all the employment law boxes and managing your staff effectively you can save time and money in the long run, increasing your bottom line. Can your business afford not to consider HR?
So here we go…..Here are my top HR tips for expanding your business successfully.
Recruit Carefully:
Whether you’re a small business starting out or a multi-million pound company, every business can make recruitment errors. And yet, employees are usually a business’ biggest cost. A survey from leadership organisation the Chartered Institute of Personnel and Development (CIPD) found that the average cost of filling a vacancy could be as much as £6,125. Having to fork out twice because you’ve made a bad decision could seriously damage your business. Targeted advertising of vacancies and tried and tested interview techniques will help you to recruit right first time round.
Stay on Top of Employment Law:
Did you know that every employee must legally receive a contract of employment within two months of starting a role? Are you aware of current employment legislation? Whether you tackle employment legislation yourself or get an external HR service, like The HR Experts, to advise you on this, making sure you conduct your business within the legal requirements is essential. With the rapid rise of employment tribunals you do not want to risk hefty compensation claims due to employment errors.
Invest in Training and Development:
With the ‘one job for life’ attitude no longer being the norm, keeping quality employees can be vital to maintaining your skill set and avoiding frequent recruitment drives. Employees need to be able to continue learning and adapting their capabilities. By looking ahead and initiating effective learning interventions in good time, you can stay ahead of the game.
Finally, communication, communication, communication:
I am sure you have heard this before but communicating with your employees really does work. Communication can often fall by the wayside when you are busy expanding your business. It is essential, however, to make time to communicate with your staff. Have an open door policy and clear lines of communication. Your staff will feel valued and involved, increasing their commitment which will increase your profit. Let’s not forget that that is the imperative factor in expanding your business!
If you have any questions on this or any other HR issue contact The HR Experts at info@thehrexperts.co.uk
