How HR in Small Business can Diminish Risk
According to a U.S. Small Business Administration survey, small companies spend up to 80% more per employee on federal regulatory compliance than large companies. Small business owners who don’t have a designated HR manager increase their risk unless they stay vigilant with current compliance news and policies.
We get it—as a small business owner you wear many hats and are always on the go. Which is why a lot of small to medium-sized business are plagued by wasteful manual processes and outdated HR solutions (if they even have a software solution at all).
A recent Paycor study of more than 1,400 businesses revealed that 51% still store employee data in multiple spreadsheets and 54% are manually tracking hours. Payroll in small business is handled in a variety of ways too. This lack of proper record keeping can result in some big problems with costly fines.
The first step is to be informed. Inside this guide you’ll learn:
- How to maintain compliance with federal regulations through the employee lifecycle
- Potential violations to watch for and tips to avoid them
- Expert advice on how HR can mitigate risk
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