As your nonprofit, start-up or small business adapts to changing economic conditions, one thing remains paramount: attracting and retaining high-performing talent. Betterworks.com shares its thoughts on 10 of the biggest HR challenges in 2023. It lists the employee value proposition as the first challenge.
What does this mean? Post-pandemic work environments have some stark differences that are a result of the constraints put upon us during the pandemic. However, some things remain the same, “They still want competitive pay, strong benefits packages, training and development, but that’s not enough.” What’s changed is there is more emphasis now on belonging and inclusion, ensuring the company is doing the right thing, transparency, diversity and sustainability.
The other nine include re-engagement of employees, attracting, retaining and promoting talent, focusing on health and well-being, putting DEI into action and strengthening relationships.
This may be a lot to take on, especially since budgets are limited, costs need to be managed and efficiency needs to be optimized. Instead of hiring an HR team, a viable and oftentimes more cost-effective option is to outsource HR services. HR News says, “If your business HR needs exceed your internal HR capacity, you may benefit from outsourcing HR support services.”
- You can save money. Instead of hiring an entire team, you get access to an entire team without the corresponding payroll costs.
- You don’t need to worry about keeping up with changing regulations. Your accounting team takes care of that.
- You save time, especially for recruitment – as it takes a lot of time to find the right candidates, interview them, develop the right compensation package and so on.
- You can focus on your core skills and delivering on your mission.
If you’re considering whether or not this solution fits your needs, Inc.com offers some guidance. It lists 10 tasks that it recommends that small businesses outsource. These include accounting and bookkeeping, human resources, payroll, information technology, customer support, legal services, marketing, web design and development, data entry and virtual assistance.
With 20 years of proven success, LTD Global has helped empower the success of numerous nonprofits and small businesses. We’d love to be part of your growth strategy and you could be our next success story! Want to learn more? Connect with us.