Running a small business typically means employing workers, something that can impact everything from internal policies to working capital needs. However, it also means contending with the challenges of human resource management.
According to a recent report from Human Resources (HR) services provider TriNet, it’s this aspect of business that can take up more time than any other. In fact, nearly one-third of those in charge of a business cited HR documentation and workplace compliance as their greatest worry in a recent survey.
While larger companies can turn to specialized departments and even outsourcing to assist with HR needs, small business owners generally aren’t so fortunate.
“Government doesn’t think about the size of a company when it sets new legislation and compliance regulations,” Burton Goldfield, president and CEO at TriNet, said in a media release. “If not properly prepared and equipped, small and medium size businesses can quickly be distracted and hampered by the complexity and weight of regulation.”
Simplifying HR through technological tools
Advances in IT equipment and computer software offer small business owners the tools they need to streamline processes and reduce time spent dealing with HR.
For example, payroll software can be used to ensure all workers are paid correctly and payroll taxes are filed accurately and on time. This helps keep employees happy while also minimizing the risk of compliance issues, fines and litigation.
Meanwhile, these types of tools can also cut down on costs and errors associated with old-fashioned manual processes.
Software Advice, a consultancy that reviews and researches numerous types of software, recently reported 31 percent of surveyed software buyers said they needed tools that would better help them plan and manage daily operations. Twenty-six percent wanted to improve efficiency and organization.
With TriNet reporting that some business leaders spend an average of up to 46 percent of their time on HR issues, it’s clear that utilizing these tools can help.