If you run a small business, you might think your main priority should be reducing costs and increasing sales to achieve the biggest profit by the end of the financial year. One of the most effective ways of making sure you turn a profit is often overlooked. If you look after your employees, they’ll help you look after your profit margins. While the world of human resources may seem complicated, here’s how technology can help support your employees.
HR can often be a very time-consuming task that requires specialist knowledge and training. That’s why a lot of businesses seek the help of professionals from outside of the business. Employing the help of a PEO can help you save time, money, and, most importantly, look after your top talent.
You may be asking yourself what is a PEO, and how can they help my business? PEO stands for professional employer organization. They can help you with the admin of your business, including payroll processing, tax administration, and benefits. They’ll also be at hand when you really need the expertise of a PEO, to offer guidance and resources to help mitigate some of the risks surrounding employee disputes.
You might think that employing a PEO means you’re handing over control of your most valuable assets – your employees. While they will look after many important responsibilities, you will still manage the most important aspects of their job, deciding what happens day to day under your roof and making sure they achieve the targets you set them. You might also think that your business is too small to benefit from the help of a PEO. Many companies charge based on a rate per employee or based on a small percentage of your payroll, so they can offer value for money for any business.
Support their mental health
It’s often said that a healthy worker is a happy worker. This doesn’t just mean that fruit and vegetable should be readily available in the cafeteria. It is just as important to look after your employee’s mental health. Problems caused by poor mental health result in an increasing number of employees taking long periods of time off sick.
There is a wide range of online resources available to help support those people who need it. Make sure you regularly share these with your whole workforce. Mental health is often called the “hidden illness,” so although your staff may not show any symptoms, they could still be suffering in silence.
You may think the only reason your staff come to work every day is for the paycheck at the end of every month. When employees look for other jobs, it’s often not because of the offer of an increased pay packet. It’s often because they don’t feel valued by the company. Increasing office morale can decrease the number of people leaving the business. Consider starting a weekly email highlighting and thanking your team for their achievements this week. Maybe even run social events over Zoom, or set up a work WhatsApp group to increase interactions with colleagues.