Here's How HR for Small Businesses Contributes to Higher Revenue

Sneha Hull | June 15, 2022 | 104 views

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"The more you understand your fellow teammates and leaders, the more invested you will be in improving what you've already put in place!"

- Brandy (Rosner) Zimmerman, Vice President of People Operations at TaskUs.

Whether a business is large or small, it must have a human resources department for several reasons. Often, small businesses do not have HR departments since they are costly to maintain and do not contribute to revenue generation. However, HR for small businesses is of utmost importance because it can result in cost savings for companies having an in-house HR department, resulting in a return on investment. In addition, although human resources are not directly involved in revenue-generating, they may contribute to the bottom line by implementing cost-cutting methods. Consequently, HR software for small businesses is extensively employed by enterprises.

Human resources is developing in a variety of crucial sectors, including payroll, health insurance, employee discipline, and staff recruiting. Below are the three key areas you should delegate to an experienced specialist.


Top 3 Areas Need Experienced HR Professionals


Employee Experience and Culture

The relationship between company culture and employee experience is substantial, and vice versa. A strong business culture generates a great employee experience, and a great employee experience reflects and feeds a great company culture. Some research indicates that modern employees prioritize people over money. Instead, they anticipate that groups will promote principles they can support. They are also concerned with how firms treat their employees.

The HR team can be the ideal catalyst for improving company culture and employee experience, especially for small businesses. When it comes to maintaining employee experience and culture, HR for small businesses holds a great deal of weight.


Diversity, Equity, Inclusion and Accommodation

Although "diversity" (or DEIA) is a trending subject in business, few organizations make it a strategic priority. There are several advantages to incorporating real DEIA into every element of your organization. 19% revenue growth is possible for businesses with above-average diversity in their management.

HR professionals help businesses overcome obstacles that small business owners dread. This involves dealing with five generations of employees and addressing job discrimination against blacks. They face racial, ethnic, and gender discrimination. Accommodations for disabled and LGBTQ employees are also included.

Human resource management for small businesses should be experts in creating a diverse, fair, inclusive and accommodating culture. This will allow you to develop a culture of empowerment and employee belonging. This is only possible, though, if DEIA is part of the company's culture, which HR can help you do.


Onboarding and Exit Interviews

Hiring new employees into a firm focused on employee happiness and DEIA is only the beginning. Providing them with an organized onboarding process is a crucial retention technique.

New employees are more productive when they feel welcomed and have the tools necessary for success. Thus, HR for small businesses plays a vital role in employee satisfaction.

HR for small businesses should focus on the following four elements:
  • Connection
  • Clarification
  • Culture
  • Compliance

Engaging employees in effective onboarding programs reduces employee turnover. However, when employees depart an organization, HR should conduct exit interviews. Conduct these encounters in person, via surveys, questionnaires, or a mix of the three.


4 Ways HR Can Contribute to Maximize ROI

HR software for small businesses contributes significantly to all HR-related subject matters. Whether it's aiding with hiring procedures or managing employee payroll, the HRMS system is crucial in generating massive cash for every firm. In actuality, HRMS systems help small businesses by increasing their ROI through automated payroll, automated attendance monitoring, automated tax management, etc., which reduce the likelihood of significant errors, optimizing ROI.

Below are some ways through which HR can contribute to converting your efforts into tangible money, a return on investment.


Invest Only in What You Trust

Investing in any area or service that has gained your trust or you have heard of it before reduces the risk of sinking your investment to a great extent. Larger businesses rely on various HR-specific solutions to save costs and boost productivity and performance. With less risk, the potential for better ROI is maximized.


Reducing Errors in Accounts

Utilizing an HRMS for payroll automation makes the process transparent and error-free. So, businesses can never go wrong by investing in an HRMS system, as long as they do a lot of research on the different manufacturers based on their goals and needs.


Retaining Impactful Employees

Retaining the most impactful and effective employees is a significant way HR can contribute to ROI. It requires only timely assessments, payouts, and straightforward HR procedures. The integrated assessment system in the HRMS ensures that the employees receive automated feedback and prizes as a mark of appreciation, which they appreciate. In addition, they benefit from AI-integrated HR bots with user-friendly ESS interfaces.


Reducing Expenses

Reducing HR department expenses is another approach to increase ROI. The HR software tends to lower all costs associated with HR tasks, such as hiring, onboarding, and payroll processing, up to and including retirement. In addition, integrated elements inside HR software, such as ESS, facilitate employee engagement. Consequently, costs are lower.


Final Word

Human resource advantages are numerous; that is the reason HR for small businesses is essential. There are several things that human resources professionals can do for a company that other employees just can't. You will also save time and money in the long run by using HR from the start. You do not necessarily hire an entire HR department. One person is capable of handling all the HR duties for a small business. You can also hire a part-time HR, compliance, or recruiting consultant, or outsource your HR processes to an external firm.


FAQ


Why is HR important for small businesses?

Human resources play a crucial part in the success of small businesses. HR is responsible for adhering to employment regulations, establishing and implementing effective people management methods, and handling payroll and tax payments while ensuring that your company is a pleasant workplace.


How can HR help increase revenue?

HR increases an organization's revenue by managing employee retention, enhancing staff productivity, and developing organizational talent and future workforce capacities. All of these HR-related activities affect revenue.


How can HR add value to the business?

HR contributes to the value of a firm by influencing corporate executives to train and develop personnel and rewarding good performance with improved salaries and regular promotions.

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Amazon Business is also launching the Small Business Grants program, awarding more than $250,000 in business grants to a handful of growing small businesses. Existing Amazon Business customers with annual revenues of $1 million or less can apply for a grant, with one grand-prize winner and a group of finalists and semifinalists receiving monetary grants, Business Prime Memberships, Amazon Web Services credits and training benefits, and more. Applications are due by September 30, and winners will be announced on October 25. For additional information, visit www.amazon.com/smallbusinessgrants. “We are committed to empowering entrepreneurs and small business owners to thrive, and Small Business Month is a way to give back and provide the very best customer experience for them.Amazon Business is invested in the success of small business customers. When they grow, we grow, which enables us to increase selection, reduce prices, and add additional features and benefits, all of which are important to small business owners. These entrepreneurs face unique challenges and circumstances, and we’re here to be a partner in their continued success.” Todd Heimes, small business director of Amazon Business One of those entrepreneurs is Jim VanNatta, an Amazon Business customer and owner of Hockinson Market in Brush Prairie, Washington. VanNatta and his wife grew up near the market—a community staple built in 1928—and decided to buy it in the 1990s. However, the 2008 recession hit the business hard, and VanNatta needed to update and pivot. He transformed Hockinson Market into a thriving pizza shop and taproom, bringing his son Justin onboard as co-manager. "I just want to pass on a healthy business to my son,” said VanNatta. “My goal in the next couple of years is to make sure that we’re still doing the right things to make him successful moving forward. With Amazon Business, I’m finding items at significant savings—for example, I recently bought latex gloves for pizzamaking and saved a bundle—and I get things delivered faster with Business Prime.” VanNatta will be speaking as part of the Strategy and Operations track during the Small Business Summit on September 8, which will feature 17 sessions no longer than 20 minutes each on topics such as how to grow, get funding, and create an online presence. Attendees will also get a preview of the soon-to-be launched Amazon Business Small Business Resource Center, an evergreen hub for small business education. Todd Heimes will welcome attendees at 9 a.m. PDT/12 p.m. EDT on September 8 with the announcement of the Small Business Grants program for solopreneurs and small businesses. Some of the additional speakers and sessions include: 5 Ways to Increase Income as a Small Business: Chris Guillebeau, the host of the Side Hustle School podcast and The New York Times best-selling author of The $100 Startup, Side Hustle, The Happiness of Pursuit, and other books, will kick off the Summit with a keynote talk. How to Build a Team From the Ground Up in 7 Steps: Jay Steinfeld, founder and former CEO of Blinds.com, will break down the steps and lessons learned to build a team that will help a small business owner maximize growth and profit, and make being a leader a lot simpler. Social Media, Press, and Your Business: Maya Penn, CEO and founder of Maya’s Ideas, started her first business at the age of 8 and has been a media-worthy entrepreneur ever since, adding a published book, You Got This!: Unleash Your Awesomeness, Find Your Path, and Change Your World, to her list of ventures. Maya will cover the fundamentals needed to create a following and a press-worthy story, as well as how to keep the momentum going. Registration is free and open to all entrepreneurs and small business owners at https://business.amazon.com/en/events/small-business-summit. Those unable to attend the summit can complete registration and access to summit content will be sent and available afterward. Amazon Business empowers small business customers by providing easy access to buy from hundreds of thousands of sellers and discounts on over 50 million items with business-only pricing, quantity discounts, and free shipping on eligible orders. Amazon Business also provides flexibility through payment options to earn rewards or enjoy extended payment terms to maximize cash flow while making it convenient to find and purchase from small, diverse, and local businesses through seller certifications. Small business owners can learn more about how Amazon Business is empowering small business owners at https://business.amazon.com/en/work-with-us/small-business and register for an Amazon Business account at About Amazon Business Amazon Business helps millions of customers worldwide—from small businesses, schools, hospitals, nonprofits, and government agencies, to large enterprises with global operations—reshape their procurement with cost and time savings, greater productivity, and insightful purchasing analytics. Procurement and business leaders enjoy convenient shipping options on hundreds of millions of supplies across categories like office, IT, janitorial, food service, and professional medical supplies. Customers also have access to a variety of business-tailored features and benefits, including a curated site experience, Business Prime, business-only pricing and selection, single or multi user business accounts, approvals workflow, purchasing system integrations, payment solutions, tax exemptions, dedicated customer support, and more. Amazon Business is currently available in the United States, Canada, United Kingdom, Germany, France, Italy, Spain, Japan, and India

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TECHNOLOGY, SMALL BUSINESS ADVICE

CyberCatch and Arizona Small Business Association Announce Partnership to Help Small Businesses in Arizona Mitigate Cyber Risk

CyberCatch | September 22, 2022

CyberCatch, today, jointly announced with the Arizona Small Business Association (ASBA), a strategic partnership to enable Arizona's small businesses to quickly and easily implement necessary cyber security controls for digital success.According to the U.S. Small Business Administration, there are more than 590,000 small businesses (those with fewer than 500 employees) in Arizona, and these businesses employ nearly 43.5% of the state's private workforce. Small businesses are the growth engine of Arizona's economy, and this partnership provides a valuable tool for continued success,said Debbie Hann, Chief Operating Officer, ASBA. We are delighted to partner with CyberCatch to keep Arizona's small businesses one step ahead of cyber threats, so they can continue to grow and succeed digitally. Nearly all small businesses are digital these days, and need to stay proactive, said Hann.ASBA is pleased to take a leadership position with this program and announce a new ASBA membership benefit in the form of a subscription to CyberCatch, at a discount. CyberCatch's patented, innovative, cybersecurity Software-as-a-Service (SaaS) solution is specifically designed for small businesses and enables quick and easy implementation of all necessary controls for continuous cyber security. The SaaS solution automatically and continuously tests cyber security controls to detect security holes for prompt remediation so attackers cannot exploit and ensures ongoing compliance and cyber risk mitigation. "CyberCatch is a one-stop-shop for small businesses. We are honored to partner with ASBA. Our compliments to ASBA for their foresight and forward thinking to recognize cyber risk as a key threat to small businesses in Arizona and to partner with us to craft a valuable and timely solution for their members and prospective members to assure their continued success." Sai Huda, founder, chairman and CEO, CyberCatch. The root cause of data thefts and ransomware is security holes which derive from missing or ineffective cybersecurity controls that the small business is unaware of," said Huda. "Small businesses have limited resources and generally don't know what cyber security controls to implement or how to implement them in order to be secure from cyber threats, and now must comply with new requirements such as Zero Trust. ASBA and CyberCatch aim to fill those gaps in small business knowledge, with this innovative new partnership. This member benefit gives small businesses immediate savings and continual digital compliance and security. To learn more about this benefit, visit website. About Arizona Small Business Association The Arizona Small Business Association (ASBA) was founded in 1973 and serves as the collective voice of small businesses in Arizona by driving a better environment for all of us to do business. Today, ASBA is focused on delivering statewide education, mentoring, networking, and advocacy programs, providing innovative entrepreneurs with the resources necessary to grow and evolve in an ever-changing marketplace. For more information, visit website. About CyberCatch CyberCatch is a unique, patented cybersecurity Software-as-a-Service (SaaS) company that protects small and medium-sized businesses (SMBs) from cyberattacks by focusing on the root cause why SMBs fall victim: security holes. It provides an innovative cloud-based SaaS platform coupled with deep subject matter expertise to help SMBs implement just the right type and amount of cybersecurity controls. The platform then performs automated testing of controls from three dimensions: outside-in, inside-out and social engineering. It generates the Cyber Breach Score to continuously measure cyber risk and finds security holes and guides the SMB to fix them promptly, so attackers can't exploit any missing or broken controls to break in and steal data or infect ransomware. CyberCatch's continuous value proposition:

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