Human resources are often overlooked when starting a business or working in a small business. HR tasks always seem to fall as extra work for management until it gets to be too much. But having a talented human resources team behind your business deserves attention. It can lead to growth opportunities and help you strategically expand and reach success. Let's discuss a solution that provides exceptional human resources without breaking the bank.
Fractional Human Resource Management
Fractional Human Resources allow companies to outsource their HR responsibilities to a third party instead of using an internal department. This can help manage expenses and overhead costs. It’s great for startups and small businesses and can help them set up for long term success. As it’s hard to afford quality HR when you’re just starting out, hiring a fractional human resources officer can offer you the benefits of an internal department without the cost.
...But what does this look like? And in what situations is this particularly helpful?
1. Recruiting & On-boarding
The hiring process can be tiring and time-consuming. It’s essential to your success. It is necessary to be hyper-conscious during the hiring and screening process, all the way through to the on-boarding process. Fractional HR will be able to not only interview candidates, but also create processes, questions, and tools for future hiring. Organizing pre-employment requirements, document up-keep, signatures, and answering any questions along the way is something fractional HR can step in and help with.
As mentioned previously, fractional HR can take on often-overlooked responsibilities like templates and documentation that can help grow your business. This includes applications, offer letters, surveys, and performance reviews. Setting up these forms and processes is often too much work for someone in a small business or start-up setting.
Off-boarding is a great opportunity to gather information on how you’re doing as a company and get feedback from an employee. This can be missed if you don’t have the time to speak with them and organize the information into helpful data to move forward with. Fractional HR can facilitate this and improve your business, where you may be lacking.
4. Company Culture
Company culture is important to manage to build a strong foundation. Fractional HR is able to spend time understanding what employees are liking and disliking and how engaged they are. They can do this through focus groups, surveys, and interviews and make suggestions for improvement. Fractional HR can also set up education and policies around diversity and inclusion.
Lastly, fractional HR can take care of enrolling employees in their benefits programs and manage business relationships with third parties. They can help resolve issues and guide employees through any claim processes.
As you can see, there’s a lot that fractional HR can help streamline within a business. Think of a fractional HR consultant as almost an extension of your c-suite, someone that can help with business operations and ensure all bases are covered. Outsourcing your HR can be a very strategic move for early-stage businesses. You are sure to work with a human resources professional that has experience in problem-solving, business growth, and development. Interested in bringing in a fractional HR consultant? Let's get in touch!