For nearly every business, most of 2020 was spent in crisis management mode as Covid-19 raged on. While there are still repercussions from the global pandemic, and likely will be for some time to come, hopefully during the remainder of 2021, you can begin to refocus on strategic and long-term plans for success. Crisis or not, there are some fundamental tips for small business leaders to keep in mind as you stay on the growth track for the duration.
What Should Small Business Owners Know For 2021?
Covid-19 is a stark reminder of the importance of ensuring the safety and well-being of your employees, customers, vendors, and other business stakeholders. Take an objective look at your company policies and procedures around health and safety, and how well they are being communicated and enforced. Along with Occupational Safety and Health Administration (OSHA) compliance, assess your approach fully – because considerations like infection control, wellness and stress management have taken on a whole new meaning in the past 14 months.
Reassess your employee benefit program.
For many, work looks and feels a lot different than it used to. With these shifts may come changes in the benefits you need to offer to remain competitive in the employment marketplace. Affordable, accessible healthcare has never meant more. People who are not already working remotely may seek this option – or need greater flex scheduling to keep their work and personal lives in sync. Child care, elder care, an employee assistance program … the list goes on. It all boils down to tailoring benefits to individual employee needs, so you can keep your best performers under your roof, even if that roof has gone virtual.
Maintain compliance with tax and labor laws.
- Make sure your team includes at least one highly-qualified HR pro who specializes in understanding these laws, staying up to date on changes, and ensures that you operate according to all relevant guidelines. This includes being fully prepared in the event of an Internal Revenue Service (IRS) audit.
Unleash the full potential of your human resources.
A common denomination in all your business objectives is the power of your people. Human resource management must be a top priority, as it positions your workforce – and your company as a whole – for ongoing success. HR is the driving force behind the processes, workflows, policies and expectations that define how people do their work and how much they enjoy being a part of your organization.
Leave HR to the experts.
One of your smartest business tips may be to outsource some or all of your HR functions to a professional employer organization (PEO). This way, you can rest assured that no talent management stone is left unturned, and you can focus on core strategic and revenue-generating business activities.
Lyons HR Can Help
As an ESAC (Employer Services Assurance Corporation) accredited and IRS-certified professional employer organization (PEO), Lyons HR provides comprehensive talent acquisition and management services to hundreds of small businesses nationwide. We’ll customize solutions for your company and its unique needs – including payroll and tax administration, competitive employee benefits, safety consultation and workers’ compensation insurance, policy development, compliance assistance, access to the latest HR technology, and more. At Lyons, we are HR. Read our related posts or contact us today to learn more.