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The legal, organizational, employee relations, and employee benefits aspects of running your small to medium-sized enterprise (SME) are quite complex in the modern US business environment. Very few SMEs can afford a full-fledged, full-time human resources department, and a small scale or one-employee HR approach may not always be adequate.
It's not enough to just offer great benefits to your employees and to make them aware they exist. The third leg of the stool is being available to help educate your workers on the ins and outs of each benefit and give them the knowledge they need to make wise choices in this arena.
Ideas, raw materials, professional management, and a physical location may all be essential to your business' success, but they obviously aren't enough. Without a workforce, nothing is going to get done. But as soon as you are dealing with employees, a host of complex issues immediately arise.
Bolstering the appeal of your business to potential new workers is a two-way street. Both employees and employers stand to benefit from a smartly developed and creatively deployed benefits package.
Whether or not you have a full time, official HR department or not for your small business, there are going to be times when you need some expert HR consulting advice. Two of those times are clearly during downsizing and upsizing.
Excessive medical bills are the leading cause of bankruptcy filings in the US today, and it's not something that happens only to seniors - over 50 million Americans under the age of 65 are unable to pay their existing medical bills.
Anyone who runs a business, of virtually any size or type, and employs even a few workers, understands how important offering a superior employee benefits package is to their company's long term success.
Most small business owners understand the potential power of a strong employee benefits package to attract and retain top talent, but at the same time, most small businesses also struggle to get employees engaged in the benefits program.
If you talk to your employees about the benefits that they would value the most, financial wellness is bound to come up. In today’s economy your employees are thinking about financial goals, whether it's purchasing a home, putting money aside for their children's education, or making ends meet now. There is a definite need for financial wellness programs, and implementing one will allow an employer to provide resources that will help employees overcome personal finance challenges.
Employee recruiting continues to be challenging as our improving economy means more companies are hiring. With the increased competition to win over top talent, many employers are getting creative with how they attract and retain employees. However, no perk or incentive will outweigh the value of your employer brand.