Category Archives: HR Services

Should you Hire or Outsource HR?

A question we often get is, “Should I hire a full-time HR person or outsource my HR?” It’s a really important question and we wanted to address it on the blog today. In general, HR is a critical part of any business operation. So much gets wrapped up in the HR seat, it’s often responsible for: maintaining morale, culture, hiring, firing, delivering employee handbooks, ensuring compliance, and more.

However, many firms decide not to have a full-time, dedicated HR person. Instead they’ll opt to delegate the task among several employees, all who may know a little bit about HR laws and guidelines, but may not know enough of the nuances to keep a company in compliance and help it reach its full potential.

So is there are “right way to do it”? Not necessarily, but there is a “right” solution that best fits your organization. We think there are three primary ways a business can set up their HR department; none of them are “right” or “wrong”, it’s just about finding the option that best fits the employer.

1. Hire a full-time HR person.

This is pretty self-explanatory, you can hire an in-house HR person that focuses solely on managing and executing HR. We think having an in-house HR person may be best for growing companies that have 55-70 plus employees. These organizations are large enough that they really do require the support of a full-time HR person or HR team.

2. Outsourced HR.

If you hop on Google and look for an outsourced HR solution, you’ll find hundreds of them. Very few of them are really good but there’s an unending supply of them. These outsourced HR companies will help you with all the baseline HR tasks: handbooks, compliance, access to form libraries and policies. They can even help with employee agreements like hiring or separation agreements. Often they’ll provide ongoing support through a call center or email.

The main drawback is as a user is you’re left on your own to navigate their system and, because these tech HR companies are so massive, it can be difficult to get someone on the phone to answer your questions directly.

3. Full-service, outsourced HR.

Full-service, outsourced HR provides the same benefits as the outsourced HR department, but you get much more value because you would have a proxy HR department but not on your payroll.

These type of firms, can step in, get to know your team, and help with culture, morale, interviewing, hiring, terminations, conflict resolution, etc. And a lot of times they’ll even work directly with the employees and help drive your HR initiatives. We think this is how you get the best of both worlds.

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There’s really no right or wrong way to do this. Every company is going to set up their HR department differently, based on the size of their company and their objectives. Sometimes it’s about finding the best combination of the two, depending on the needs of the company.

At CorpStrat, we offer full-service, outsourced HR. If you have questions about how to best set up your HR department, let us know. We’re here to help. marketing@corpstrat.com

Recession-Proofing Strategies for Small Businesses and Their HR Teams

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Amid a recession, organizations of all sizes and sectors usually experience decreased sales and profits stemming from changing consumer behaviors. An economic downturn may also limit an organization’s credit capabilities and reduce their overall cash flow as customers take more time to pay for products and services.

While these behaviors can threaten the financial stability of any organization, large businesses are often better positioned to weather a recession because of their substantial revenues, excess reserves and privileged access to a wider range of credit markets. Small businesses, on the other hand, may be particularly vulnerable during an economic downturn, as they generally lack the additional capital necessary to offset extended periods of loss. As a result, when a recession occurs, small businesses are more likely to have to make difficult financial decisions to avoid issues such as insolvency or bankruptcy.

Recessions can’t be prevented or avoided but the strategies that HR teams implement can great impact whether organizations are able to withstand the downturn. Specifically, HR teams can ensure their organizations are sufficiently prepared for a recession by taking steps to limit related ramifications and maintain financial stability. Today we’re going to talk about how a recession impacts small businesses and explores what HR teams can do to adequately prepare their organizations for an economic downturn.

Tips to Prepare for a Recession

To promote financial stability among their organizations during an economic downturn, HR teams should consider the following recession-proofing tips:

1. Revisit compensation and benefits strategies.

Many employers have responded to recent labor challenges by increasing workers’ salaries, providing substantial bonuses and expanding employee benefits and perks. However, with the possibility of a recession on the horizon, HR teams may need to rethink how their organizations will address attraction and retention struggles. This may involve curtailing salary increases and reducing employee benefits. After all, recession-proof organizations tend to develop their budgets with an eye toward the future.

2. Automate internal processes.

The more efficient organizations are, the more resilient they will likely be during a recession. In particular, recession-proof organizations tend to stay one step ahead by optimizing their resources and automating where possible. As such, HR teams can improve organizational productivity by automating processes and implementing new technologies. This may entail automating recruiting, onboarding and payroll operations to bolster efficiency.

3. Try to minimize layoffs.

When organizations’ financial capabilities become uncertain, their immediate plans may be to reduce costs through layoffs. However, layoffs should only be considered a last resort, seeing as they can create additional risks (e.g., legal liabilities, lower morale and employee distrust) and negatively impact business operations by decreasing productivity and proficiency. Instead, HR teams may be able to minimize the need for layoffs within their organizations by implementing voluntary reduction-in-force programs or choosing to slow hiring or pause it entirely.

4. Stay transparent.

The possibility of a recession can bring uncertainty. Employees will likely be concerned about their futures. They may question the long-term viability of their respective organizations. With this in mind, HR teams need to find ways to keep employees informed without fostering their worries. Creating transparent workplace cultures can help organizations limit recession-related ramifications.

5. Prioritize employee engagement.

Employee engagement can be vital leading up to and during a recession. During periods of economic uncertainty, employees are likely to feel stressed. When organizations are forced to lay off employees, the remaining employees tend to shoulder additional responsibilities and greater workloads. As a result, these employees feel overworked and unsure about their futures. According to industry experts, highly engaged employees can help limit recession-related labor challenges among organizations. Engaged employees are more likely to accept negative work changes and remain loyal. HR teams can increase employee engagement by meeting with employees regularly and addressing their concerns early. By increasing employee engagement during difficult times, HR teams can help maintain staff morale and productivity.

6. Manage health care costs.

As healthcare budgets shrink during a recession, searching for cost-effective solutions can allow organizations to maintain affordable benefits for employees. Implementing effective strategies to manage health care expenses can help HR teams keep their organizations’ reduced benefits budgets intact without sacrificing employees’ needs. This can include reevaluating plan designs and offerings, directing staff to cost-effective services, and improving employee health care literacy.

Conclusion

A recession can have serious impacts on small businesses. Fortunately, by properly preparing for an economic downturn, HR teams can help their organizations be better positioned to minimize financial hardships.

Have additional questions? Reach out to us at marketing@corpstrat.com.

Is Your Life Insurance Policy a Ticking Time Bomb?

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Imagine finding out that the life insurance policy you’ve been paying for is destined to explode—or worse: not be in effect when you need it the most?

Over the past couple of years, thousands of universal life policyholders have been informed that their insurers are using the fine print of their policies to increase their long static “premiums”. Now, we are already seeing major insurance carriers announce increases in the raw costs of certain policies. Some carriers are even limiting amounts of insurance they are willing to write.

This is the result of the low interest climate, which has significantly impacted the life insurance industry. Many life insurance policies have been adversely affected due to substantial changes such as:

Significant reductions in interest/dividend crediting resulting in lower values;
Disruption in accumulation goals or income projected from policy values;
Higher premiums required to assure coverage to specified year/age;
And the forceful lapsing of a policy if corrective action is not taken.

We, at CorpStrat, have developed a program called The Life Insurance Audit™, designed to ensure that every client has the best possible life insurance solution available in the market today. Through the audit, you will receive an objective evaluation of you or your client’s current policy, including comparisons to today’s marketplace and pricing.

The Life Insurance Audit™ provides a consultative review and results in an analysis that can be delivered by you to your client. In light of recent changes, every cash-value or interest/dividend sensitive insurance policy must be evaluated.

Interested in learning more? Check out our methodology here at: https://corpstrat.com/life-insurance/.

7 Mistakes You Might Be Making With Your Employee Handbook

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Are there errors in your Employee Handbook that you’re not aware of? An Employee Handbook is the baseline document that an employer gives to their employee to represent the company. Laws, policies, and compliance are constantly changing so if your employee handbook isn’t updated each year, you could get yourself into some hot water. For example, if you had to fire an employee because they took too many days off but their labor lawyer looks at the company’s Employee Handbook and the attendance policy isn’t updated, you might be served with a costly law suit.

Here are the top seven common mistakes we find in Employee Handbooks.

1. You’re Using a Cookie-Cutter Handbook Template

Your employee handbook should reflect your company—its culture and its values. It’s fine to reference templates but you shouldn’t just copy and paste an Employee Handbook that you found online and expect it to do everything it needs to.

2. You’re Not Including All Company Policies in the Handbook

Often employers will send memos via email or post bulletins in the break room regarding policy changes or new workplace rules, however these one-off notifications don’t always make it to the Employee Handbook. This can both be confusing for employees and could prove to be a liability for employers because an employee can easily claim they weren’t made aware of policy changes.

3. You Don’t Have Effective Anti-Harassment Policies

Having a clear anti-harassment policy and protocol is more important than ever. All employees should undergo sexual harassment training so they’re aware of what counts as harassment and what to do when it occurs. When there is an incident, employees should be able to refer to their employee handbook to find how to report the incident of harassment, including the specific person they should report the incident to.

4. You’re Enforcing Overly Restrictive Social Media Policies

Within the last decade, Social Media has transformed the way we communicate, share information, and keep in touch. When it comes to the workplace, Social Media can quickly become an HR nightmare so it’s important to craft a clear Social Media Policy. However, laying down an overly strict Social Media Policy could backfire and violate employee’s rights under Section 7 of the National Labor Relations Act. Striking the right balance is key by ensuring your policy includes dynamic language, brand and identity guidelines, and regulatory awareness.

5. You’re Not Making It User-Friendly

If your handbook is loaded with legal jargon and endless detail, you run the risk of employees not actually reading or understanding it. Make sure you’re keeping your handbook concise and readable so your company policies are easily absorbed and adhered to.

6. You’re Applying Policies Inconsistently

The longer an Employee Handbook gets, the great the possibility of contradictory or redundant language. This can lead to inconsistent enforcement which can have a negative effect on company morale, especially when two employees are handled differently for the same offense. This can devalue the importance of your employee handbook, leaving employees confused about where to turn to for reliable information. It’s important to get an Employee Handbook Audit every so often to troubleshoot your policies and look for ambiguous language.

7. You’re Not Running the Handbook by an Employment Attorney

Laws and regulations might change on a dime, so have your employment legal counsel review the handbook annually (at minimum) to keep it up-to-date. Make sure to notify employees regarding updates and have them sign and acknowledge that they received the updated copy of the handbook so you have a paper trail.

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Need an Employee Handbook Audit? We can help you with that. Reach out to us at marketing@www.corpstrat.com to schedule a consultation.

Is Better Workplace Tech the Secret to Higher Employee Retention?

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Chances are your employees have the latest phones packed with futuristic apps that work seamlessly to support their daily tasks—from working out to purchasing meals. It’s no secret, modern workers have come to expect the same flexibility and convenience in their professional lives as they encounter in their personal lives. Unfortunately, Human Capital Management (HCM) technology hasn’t exactly kept up, leaving employees with subpar apps that are neither intuitive nor effective.

This can quickly lead to a lackluster employee experience. In fact, 48% of employees surveyed said they wished their workplace technology performed the same way as their personal technology. Technology is a major component of the employee experience and being able to deliver well-designed solutions where and when your team needs them is becoming essential to maintaining high retention rates. Better workforce automation technology is linked to better work/life balance, increased job satisfaction, and stronger feelings of team unity.

Why is it important to learn from the success of popular apps?

Many popular apps feature a savvy combination of convenience and problem-solving. Many current HCM solutions are neither convenient for employees nor do they actually solve a problem leading teams to revert back to outdated solutions. For example, if a mobile app isn’t robust enough, HR teams can often be forced back into relying on paper or asking employees to stop what they’re doing and sit down at a desktop computer. With many “deskless” workers, like those in manufacturing or retail, this can become a huge hassle and cut into valuable work hours.

Delivering a consumer-grade, responsive HR experience to your employees is a must-have in today’s competitive employment environment. With a diverse workforce that includes remote employees, contractors, gig workers, and more, responsive HCM solutions let you reach and engage workers in a meaningful way — whether they’re in a traditional office, coffee shop, vehicle, or working on site. When all employees have access to modern, flexible solutions to common HR questions and problems, organizations can realize demonstrable increases in productivity and engagement.

**Why our Workforce Ready platform can improve your employee experience:**

We believe that our Workforce Ready HR solution is able to deliver your team responsive, convenient, and robust technology that aligns with your company goals, will improve your employee experience, and increase your bottom line. Here’s what’s great about Workforce Ready:

1. It simplifies and streamlines tasks.

We believe that no matter what device is being used, it should be easy for employees to find specific, day-to-day actions they need to complete. Workforce Ready’s easy to use mobile app ensures there isn’t any confusion about which area of the app does what or how to get there.

2. It empowers employees.

With Workforce Ready, employees are able to carry out all tasks on any device, giving them autonomy and making them feel engaged in their work

3. It keeps teams unified.

Having a slew of different apps and separate systems is confusing for you and your employees. Workforce Ready offers a unified platform for all your HR activities that can translate seamlessly to any device.

Giving employees convenient access anytime, anywhere to key processes like benefits enrollment, direct deposit, timesheet submission, and vacation requests allows them the flexibility to make requests and submit important information in a timely manner, rather than having to wait for access at the office. It’s great on the managerial side as well, managers can quickly get actionable, visual displays of key workforce metrics, letting them catch and address changes quickly and reward top talent immediately. It also frees up HR to focus on bigger strategic company goals rather than administrative tasks and push forward innovative employee programs rather than becoming bogged down by approvals and paperwork.

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Want to upgrade your team’s HCM tech? Schedule a call with us today.