Items to have on-hand Before Enrolling with a Payroll Service

So, you’ve made the decision to consider an outsourced payroll provider. You may even have a few bids out to test the waters and see where products and fees align compared to your goals. However, before you enroll with an outsourced payroll service, prioritizing the organization of your internal payroll and human resource (HR) processes is crucial for easy sharing with a potential payroll provider. This will help streamline the process for you, your provider and your team. Here are some tasks to check off your list during the organization process and items to have on-hand before you sign your next contract:

Identify strengths and weaknesses in current operation

If you have been processing payroll in-house since the inception of your business, you have likely undergone significant changes in the way you process payroll and handle other aspects of your HR over time. When was the last time you updated your process documentation? Documenting your processes thoroughly is necessary to provide a clearer picture of your business to a potential provider. With documented processes, the payroll provider can better understand how you currently operate and any potential areas for improvement. As professionals who serve a variety of clients in size and industry, outsourced payroll providers will use your documentation, along with their experience with similar operations, to provide the best possible solution for your needs. Additionally, identifying your current system’s strengths and weaknesses, and your desired outcomes through outsourcing, will assist the provider in understanding how their product can best serve you.

Identify clear expectations for results and budget

After you’ve documented your processes and identified your strengths and weaknesses, you must set clear expectations, goals and benchmarks for how you envision an outsourced partner working with your business. If you enter into negotiations without a clear understanding of your expectations for the transaction, your chances of poor implementation, product fit, pricing structure are greatly increased. Do your research and learn what types of products are available, how they work, and how their price points compare with others in the market. Furthermore, should you receive a proposal or contract, perform a detailed examination of the pricing structure and any potential add-ons you may not expect or anticipate up-front, which could end up costing you big. Transparency will be key in a lasting relationship with your payroll provider.

Identify an ideal partnership

Not every outsourced payroll provider is right for every company. For example, if you are a small operation of 30 employees, a payroll provider who specializes in large multi-national corporations may not be a good fit, and vice versa. Small companies and start-ups will likely need more hands-on, approachable, and available customer service support during implementation, as well as throughout the relationship, to maintain optimal efficiency down the road. Larger companies will also need dedicated customer service, but may require a more robust platform to integrate with their various benefit programs and handle the complicated matters which can arise with hundreds of employees. Do your research, talk to peers in your industry, and identify which providers are likely to suit your needs and culture.

Prepare your staff

If you are switching from in-house to an outsourced payroll provider, and you have staff who are currently responsible for that function, consult with them on what this means for their position going forward and what expectations you will have for their position. If they are to serve as the liaison to the provider, bring them in on demos and negotiations. If their role is changing completely, provide plenty of time for training and transition. When implementing a new process or platform to improve time and energy output, engage the people impacted by this drastic change.

Get your paperwork in line

Once you’ve chosen your provider, prepare all relevant paperwork, documentation and contracts so they can hit the ground running with implementation of accurate data. The more prepared and organized you are inside your business, the easier implementation and start-up will be. Set aside time to ensure benefit provider contracts, federal and state documentation, and any unique employee circumstances are order. Implementation can be hectic and overwhelming, and the more organized you are, the better you will feel throughout the process.

Follow these tips before enrolling with an outsourced payroll service, and you will be more prepared and organized going into the bidding, buying and implementation processes.

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The HR GDPR Divide: SD Worx survey reveals GDPR has polarised HR

Today SD Worx, the global HR and payroll service provider, revealed that out of 1,800 HR and payroll professionals, 44% do not know what the General Data Protection Regulation (GDPR) is. However, of the 56% that are aware of the impending GDPR, 81% feel they will be ready by the May 2018 deadline.

The findings, conducted among nine European markets, show surprisingly polarised views when it comes to the new legislation.

Of the 56% of HR and payroll professionals that are aware of GDPR, the majority are collaborating with other departments or outsourcing providers. 84% of respondents revealed that they are getting help from other departments in the organisation, yet 73% believe that GDPR compliance would be easier if HR and payroll was outsourced. In addition, the survey found that 91% are likely to look for additional skills outside the organisation to help with GDPR preparation.

Of those that are aware of GDPR, 55% of respondents believe GDPR is a risk to the HR industry, leading them to implement various preparations. 68% of respondents are absorbing as much as possible on the subject and reviewing and updating all existing policies and processes related to data protection, and 49% are assessing the need for changes to current business relationships (including with data contractors).

Jean-Luc Barbier, International Managing Director at SD Worx, commented, “This survey has revealed the clear divide in the HR industry. Even though those who have heard of GDPR are preparing for GDPR and think they are likely to be ready by the deadline, the other half of the industry has not heard of GDPR. Therefore, you would assume that the ones who aren’t aware aren’t making the necessary changes to their department. It’s great to see that those who are aware are seeking skills to help them from a variety of sources, both internal and external. What this survey tells us though is that a significant amount of education still needs to be done.”

When it comes to GDPR-readiness in the nine markets, the survey also highlighted various differences between countries. For example, only 67% of respondents in Austria believe their HR team will be fully GDPR compliant by the deadline, whereas in Ireland the rate was 90%. In addition, when asked if outsourcing for the HR and payroll department will make becoming GDPR compliant easier, 56% of Swiss respondents said yes, whereas Belgium (85%) and the United Kingdom (73%) were much higher.

Although the HR industry seems to be polarised, for those who have heard of GDPR, the benefits are recognised. When asked what the key benefit of GDPR is in the HR and payroll industry, 71% believe improved data security will be the biggest benefit, whereas only 3% believe that GDPR will bring no benefits at all.

SD Worx Research Survey Infographic | Excerpt

The Great Salary Swindle: 44% of European employees have been paid late

-        79% of employees who were paid incorrectly identified the issue themselves

-        Of those that were paid late, 88% perceived their employer negatively

-        Around half (44%) of all respondents would consider leaving their job after being paid late

Today SD Worx, the global HR and payroll service provider, revealed that out of 4,000 employees surveyed, 44% had been paid late by their employers and 48% of those that had been paid late had also been paid incorrectly. The survey also revealed that 79% of employees that had been paid incorrectly identified the issue themselves and, on average, 44% respondents would consider leaving their jobs (41% in the UK) after been paid incorrectly, with 55% of German respondents considering leaving, and only 30% of French.

SD Worx conducted an independent online survey amongst employees in six different European countries, the UK, France, Austria, the Netherlands, Switzerland and Germany, to measure their opinions and experiences of receiving delayed and incorrect payment. The survey targeted employees working in organisations sized between 10 to 10,000 employees who had experienced a delay in payment from their employer, finding that employees in the Netherlands were most likely to be paid late (55%), followed by Germany (46%).

The delay in payment caused a predominately negative perception of employers from the employees that SD Worx surveyed. The majority (varying from 80% in Netherlands to 93% in Switzerland) of employees who experienced payment delays felt their perception of their employer had a ‘slight negative’ to ‘highly negative’ impact. In addition, surveyed employees thought that the reason for their late payment was predominately down to poor management (61% of UK respondents) or financially unstable employers (on average 33% in all countries).

Jan Van Mol, Head of Global Alliance at SD Worx, commented: “The results of this survey are shocking in regards to the impact that payroll error has on employee engagement. An increasing number of employees are becoming actively disengaged in their workplace due to late or incorrect payments, something that employers need to fix to ensure that their employees are have high morale and trust in the workplace”.

Alongside whether employees were paid late, SD Worx also asked whether employees had been paid incorrectly. The survey found that of the 44% that had been paid late, a total of 48% had also been paid incorrectly. Among those respondents, the UK is most likely to be paid incorrectly at 61%, with the Netherlands in second at 55%. Of the respondents that were paid late, over 80% of all employees (other than Austria) found the issue and notified their employer themselves.

The reasons for delayed payment varied for each country, with the main two reasons being “Late third-party payments impacting cash-flow” and “System error or outage”, combining for around three-in-five (57%) employees in all countries. In Austria, late third party payment was the cause of delayed payment for 50% of employees.

On average, employees experiencing a delay in payment were delayed between one-and-a-half and two weeks in all countries, except in Austria where the average delay was around three weeks. Payroll and HR is often overlooked as an essential aspect of an organisation, but SD Worx’s survey results emphasise the importance of ensuring that employers are paying their employees correctly.

SD Worx Research Survey Infographic

SD Worx Research Survey Infographic

About SD Worx

As a leading European payroll and HR services provider, SD Worx provides a wide range of solutions to customers worldwide including payroll and HR, legal support, training, automation, consulting and outsourcing. Today, more than 63,000 large and small organisations across the globe rely on the more than 70 years of expertise that SD Worx has acquired.

SD Worx’s 3,900 employees operate in ten countries made up of Belgium (HQ), Austria, France, Germany, Ireland, Luxembourg, Mauritius, the Netherlands, Switzerland and the United Kingdom. SD Worx calculates salaries for about 4.25 million employees and recorded in 2016 a turnover of €397 million. SD Worx is the co-founder of the Payroll Services Alliance, a global strategic network of leading payroll companies whose members jointly handle 32 million salary calculations.

More information: www.sdworx.com

Media enquiries:

Leah Jones, The CommsCo, ljones@thecommsco.com, 07876117760

Cindy Berichon, SD Worx, cindy.berichon@sdworx.com, 07767004356

HR and Business Are Looking for Data Analytics and Insights

Stacey Browning, President of Paycor

Today our guest is Stacey Browning, President of Paycor.

Since 2001, Stacey has played an integral role in every aspect of Paycor’s operations. As president, she fosters collaboration across the business and ensures executional excellence in product development and service delivery.

Paycor is a trusted partner to more than 33,000 small and medium-sized businesses.Known for delivering modern, intuitive recruiting, HR and payroll solutions, Paycor partners with businesses to optimize their people management.

Paycor’s key areas of specialization include Payroll Management, Human Resources Solutions, Benefits Administration, Time & Attendance Solutions, Tax Filing & Compliance, Workers’​ Compensation and Employment Screening Service.

Recently Paycor announced Workforce Insights, a new data visualization solution that extracts rich and actionable insights from people data to bring valuable C-level and operational insights to key business stakeholders.

The interview is hosted by Alexey Mitkin, Founder, Publisher and Editor-in-Chief, The HR Tech Weekly® Online Media Co.

  1. Hi Stacey, and first of all thank you very much for this interview with The HR Tech Weekly®. Straight away, why you have developed Workforce Insights and how it will complement other Paycor products?

Our innovation is driven by uncovering ways to better serve our clients, and Workforce Insights is no exception. Last August we surveyed our clients about the features they wanted to see in future product releases. After reviewing more than 1,000 client responses, we found that the overwhelming majority were looking for data analytics and insights.

In addition to evaluating our client’s feedback, we also looked at industry trends that show HR professionals are striving to prove their strategic value to executives. One way we can help them is by organizing their key people data in a manner that helps with business execution.

For example, through the Workforce Insights overtime dashboard, information from our time platform is correlated to OSHA incidents reported on in our HR platform. Leaders can uncover safety thresholds exceeded by location, department or manager to home in on where a performance issue may be occurring.

  1. What key benefits and advantages does Workforce Insights have when compared with other tools on the market?

Most other tools on the market force standard charts and data visualization. Workforce Insights allows customers to view their data in the way that is most impactful for their unique business needs.

Another key differentiator is the one-click sharing functionality. Users can take their insights and share that information with the appropriate parties without having to import or export data. The custom reporting and one-click sharing allows users to not only have access to the data, but to make it meaningful and actionable.

  1. Why do you think small and medium-sized businesses need their own HR technology solutions?

Employees at small and medium-sized businesses (SMBs) are often forced to wear multiple hats, and sometimes that even means taking on responsibilities like payroll. HR technology solutions help relieve the administrative burden of payroll and benefits while ensuring reliability and security, while also protecting against the risk of compliance infractions.

What Paycor offers seems to be what’s desired most by SMBs – a platform or suite of functionality at the right per-employee-per-transaction and per-month price point that doesn’t require a customization. A solution that can be implemented and have value derived in three days to three months, and that can adapt with them as their organization grows.

  1. Paycor has run its operations since 1990. How have your clients needs during this period changed, and what is the secret sauce for long-term success?

Since 1990, the technological needs of our clients have changed dramatically. In 1990 computers were large and expensive, “the cloud” didn’t exist, and phones were connected to a landline or, for a select few, in a bag in your car. Since then, clients have had to react to the demands of their workforce; faster access from any device, and our products have had to evolve accordingly.

Our secret sauce for long-term success may be the only thing that has remained the same since 1990 – putting our clients first. We were founded because our CEO believed there was a better way to serve the needs of our clients, and it’s that passion that still drives us today.

  1. Achievements in big-time sports are based on grassroots sports. What can you recommend to HR Tech startups on how to get into the highest league?

The energy around new HR tech offerings through start-ups informs the entire industry. For some of these startups, success looks like being acquired into a larger company and human capital offering. For those wanting to progress into a higher league more independently, I recommend having an openness to partnerships and distribution options, and feedback to the offering itself. The best emerging technologies in HR are built and market-tested quickly.

  1. Since its founding, Paycor has grown to 1,460 people onboard. What do newbies need to know about the company in order to have a successful career with you?

First, excel at the job you are given, and then look for ways to take on more responsibility. It can be dangerous to be too eager to move to the next level without first nailing the task you are given. At the same time, becoming complacent doesn’t allow you to be a change agent in the organization.

To take on that next challenge and excel to the next level it is critically important that associates know and own their personal brand. Your personal brand is what people say about you when you leave the room. Think about the impression you want to leave, and make it.


If you want to share this interview the reference to Stacey BrowningPaycor and The HR Tech Weekly® is obligatory.

Paycor Workforce Insights

Paycor Workforce Insights

Paycor

Paycor Announces Workforce Insights to Provide HR Leaders with Deep Insights and Real-Time Analysis of Employee Data

New Data Visualization Solution Extracts Rich and Actionable Insights from People Data to Bring Valuable, C-Level Insights to Key Business Stakeholders

CINCINNATI – April 11, 2017 – Human Capital Management company Paycor today announced Workforce Insights, a new data visualization solution that extracts rich and actionable insights from people data to bring valuable C-level and operational insights to key business stakeholders. This new tool provides highly interactive dashboards that allow users to explore workforce issues and discover trends, so they can identify and solve business problems more quickly and effectively.

According to Bersin by Deloitte Research, there was a 120 percent growth in companies correlating people data to business performance in 2016. Merely mining HR data is no longer enough. It has become an operational business imperative for today’s organizations to extract actionable insights informed by data. Paycor’s Workforce Insights is a new, modern way for small to mid-sized businesses to meet this need.

Workforce Insights is a highly graphical and aggregated interactive data visualization solution that helps track and successfully manage business issues. This new solution instantly identifies key insights without having to import or export data, and provides actionable, results-driven charts detailing information compiled across HR, time, payroll, benefits, talent acquisition and onboarding data, so users can spend less time searching and more time focused on solving important business issues. Customers can easily tailor dashboards to fit their unique needs for a full view of their business. Users can take actions directly from the dashboards.

Paycor Workforce Insights

Key benefits of Workforce Insights include:

  • Identify actionable insights – Data from HR, time, payroll, benefits, talent acquisition and onboarding allows companies to identify issues, uncover correlating patterns and solve people problems such as performance issues by department or location.

Paycor is headquartered in Cincinnati, OH, but has sales representatives and offices across the country. To learn more about Workforce Insights and how Paycor can help your business, please visit https://resources.paycor.com/workforce-insights.

Availability

Workforce Insights will be generally available in May 2017. For pricing information, contact your Paycor sales representative or visit https://go.paycor.com/Contact-Sales.html.

Supporting Quotes

“We built Workforce Insights based on feedback from CEOs, CFOs and HR directors of small to mid-sized businesses across all industries,” said Zhen Tao, Chief Technology Officer of Paycor. “Workforce Insights provides HR and operational leaders with a holistic view of their people data and delivers valuable, actionable insights to key business stakeholders, further demonstrating the true value HR technology brings to the organization. This solution is a data revolution for companies looking to improve the way they understand their people data and use such insights to drive operational improvements.”

Supporting Resources

About Paycor

Paycor is a trusted partner to more than 31,000 small and medium-sized businesses. Known for delivering modern, intuitive recruiting, HR and payroll solutions, Paycor partners with businesses to optimize the management of their most valuable asset – their people. Paycor’s personalized support and user-friendly technology ensure that key business processes, including recruiting, onboarding, reporting, timekeeping, compliance and payroll, run smoothly. Paycor’s people operations solutions are recommended by today’s most innovative brokers, bankers, and CPAs. Learn how Paycor can transform your business by starting a conversation at http://www.paycor.com.

FOR MORE INFORMATION

Katy Bunn
kbunn@paycor.com
513.307.6392

MEDIA CONTACT

Tanaya Lukaszewski
paycor@kulesafaul.com
916.712.3791

Cloud Is Growing, But Will It Be Your Organisation’s Downfall?

cloud-is-growing-but-will-it-be-your-organisations-downfall

Written by Hesham El Komy, Senior Director, International Channels at Epicor Software | Specially for The HR Tech Weekly®.

hesham-el-komy-sr-director-channel-epicor-press
Hesham El Komy, Senior Director, International Channels at Epicor Software

The reality today is that most enterprise applications are well on their way to being cloud based. We’ve seen it with simple workloads such as HR and payroll, travel and expense management, and in the last decade we’ve seen the cloud as the new normal for customer relationship management (CRM) deployments. In fact, a July 2016 Gartner report[1] predicts that the public cloud services market in the Middle East and North Africa (MENA) region will grow by 18.3% in 2016 to US$879.3 million. More specifically, the cloud application services (SaaS) market is forecasted to grow by a staggering 207% from US$166.1 million in 2015 to US$509.8 million in 2020.

So what are the benefits of cloud based ERP solutions? Below are eight reasons why moving your ERP system to the cloud will benefit your business and support business growth.

  1. Freedom of Choice

Put quite simply, not all cloud ERP systems are created equal. Specifically, very few ERP vendors respect your right to choose the deployment model that is most appropriate for you, and revise that decision down the road as your business grows or technical needs change. Your right to transition between on-premises, multi-tenant, and single tenant is an important one. It recognises that the “best” deployment model for you today might not be the best model in a few years, or even a few months. By providing the choice of Multi-Tenant (with its compelling economics and seamless upgrades) or Single Tenant (allowing more administrative control and administrative ownership), you can choose the model that works best for you.

  1. Compelling Cloud Economics

Despite the cloud having proven its value beyond just good financial sense, there is no doubt that for companies of all sizes the economics of cloud deployment are undeniably compelling, moving from capital to operational expenditure. Some of the more hidden economic benefits of the cloud include:

  • Not being as capital intensive as an on-premises deployment because of the subscription-based pricing model.
  • Better and more instant scalability, allowing clients to add (and sometimes remove) users to their system on demand and saving them from having to invest in hardware and software at the “high water mark”.
  • The direct and indirect costs of your infrastructure, from server to database systems to the actual hardware and replacement cycle cost.
  • The hidden costs of maintaining the servers yourself.
  • The benefit of the reduced deployment times (and corresponding improved ROI) that are typical for cloud deployments, as the necessary infrastructure is in place already.
  1. Better IT Resource Utilisation

At the end of the day, most IT departments are stretched pretty thin, and find themselves spending too much time on low-value (but admittedly critical) activities such as verifying backups, applying security updates, and upgrading the infrastructure upon which your critical systems run. There is tremendous business benefit to assigning those tasks back to your ERP vendor as part of a cloud deployment, freeing up your IT department’s time to work on more strategic business projects such as creating executive dashboards, deploying mobile devices, and crafting helpful management reports.

  1. The Cloud is More Secure

Today, it’s hard to imagine a client who could possibly create a more secure operating environment than leading cloud providers. Indeed, Gartner reports[2] that “Multi-tenant services are not only highly resistant to attack, but are also a more secure starting point than most traditional in-house implementations.”

Security today is a comprehensive, end-to-end mind set that has to be built across every layer of the ERP environment from the physical network interface cards to the user passwords. It means a holistic approach to anticipating and minimising possible natural, human, and technical disruptions to your system to ensure uptime and peace of mind.

  1. Upgrades

Cloud deployment redefines the experience by designing upgrades—big and small—to be deployed by the ERP cloud operations staff as part of standard support services, without imposing software installations on your staff. Minor updates are transparently deployed in a non-disruptive fashion, and major upgrades are announced well in advance, and include a sandbox training environment and end-user training.

These major upgrades are designed to require little to no project management on your part, short of double checking that everything is working the way you expect it to and ensuring that your internal users are prepared to take advantage of the new version.

  1. Mobile and Collaborative

Moving to a cloud-based system gives everyone the real-time system access they require as a routine part of their jobs while driving out the inefficiency of paper-based processes and the burden and security risk of figuring out how to deliver this yourself.

Opening up your ERP system by virtue of cloud deployment allows you to retire the poorly defined ad-hoc “integration by Excel file” workflows that might have cropped up across your organisation. In their place, you can deploy real-time integration processes that link your employees, suppliers, partners, and customers.

Cloud deployment brings the opportunity to redefine many of your legacy business processes and workflows in a way that leverages these more open, connected, instantaneous integration paths.

  1. Business Consistency and Process Alignment Globally

Increasingly, companies have staff working across multiple locations and they aspire to provide the efficiency of a single unified ERP system across the enterprise to support them. Deploying a single cloud ERP globally (where the only infrastructure requirement is Internet access) removes many operational obstacles, and gives you the confidence that your continued expansion efforts can be accommodated without a significant IT effort by simply enabling that new location in your existing cloud-based ERP system. With consistency comes improved transparency and increased efficiency.

  1. Reduced Risk, Greater Visibility, Better Value

Many clients choose a cloud-based system (ERP and other workflows) because it allows them to deploy a much more complete solution than they could otherwise manage or financially justify under legacy deployment models. Not having to make a massive upfront investment in the ERP system and its supporting infrastructure is critical in allowing smaller companies to perform beyond same-sized competitors from an enterprise application quality and completeness perspective.

ERP solutions aren’t just software. They are tools that can be used to help grow your business profitably, offering flexible solutions that provide more accurate information in real-time, driving smarter, faster decision-making, and enabling customers to quickly meet changing market demands to stay ahead of their competition. The cloud increases the business benefits that ERP offers and can accompany your business on the road to successful growth.

Sources:

[1] Gartner, Inc., “Gartner Says Public Cloud Services in the Middle East and North Africa Region Forecast to Reach $880 Million in 2016,” July 04, 2016

[2] New Report: Gartner MQ for Cloud-Enabled Managed Hosting, North America

If you want to share this article the reference to Hesham El Komy and The HR Tech Weekly® is obligatory.

Entrepreneurs Can’t Afford To Ignore HR And Benefits Management

Employee benefits

Written by  Moira Vetter | As appeared in Forbes.

Moira Vetter, Founder & CEO Modo Modo Agency, Forbes Contributor

When our company was a startup, as the founder, I managed benefits, HR, personnel support, finance… the chief cook and bottle washer syndrome. As we grew, I was surprised at how much benefits management requirements expanded.

The demands on our time came from competitive shopping medical benefits, workers comp benefits, short-term and long-term disability and 401k benefits, among others. Before we knew it we had 3 vendors to manage on different payment schedules with different filing requirements. And just because we aspired to be a paperless office, that didn’t stop the ‘documentation requirements’ for distributing safe harbor paperwork and quarterly reports and managing annual renewals.

People want choices you may not be able to offer

As our headcount eclipsed 15 people and we had different profiles of employees that were motivated by different benefits, it got even harder. It’s one thing to manage the transactional realities and costs of benefits, it’s another thing to take the time to understand what your team wants and offer them options.

We participate every year in the Best Places to Work survey, and for the past 5 years we only got dinged in one category—benefits. No matter how many new benefits we added, no matter that we covered more of the premiums, we still couldn’t keep up with the reality (or the perception) of choice that our growing team wanted. People work for more than a mission, culture or salary, they work for their entire package. Benefits is a serious consideration and factor in job selection and satisfaction.

HR & Payroll Management have gotten a little testy of late

I started talking to other entrepreneurs and more than a few had brought in a strategic benefits management companies. You’ve likely heard commercials for unicorn superstar Zenefits, although they’ve been getting some bad press in their battle with ADP. There are some valid points raised about who owns data on employees, how that data is used and who is benefiting from the value of that data.

For most startups that want to stay out of the mud flinging, you are just seeking help, more competitive options, more tech-savvy benefits administration and happier employees as a result.

Here’s what we’ve gotten as a result of engaging an HR management firm

Since our HR management launch (annual renewals completed and the new interface up and running), our HR manager is assured of compliance with all the new documentation requirements, we’ve been able to move to a single source and interface for all health benefits, 401k, PTO/benefits administration, LTD/STD and other benefits like employee purchases.

The benefits themselves, because they are group purchased by the benefits management company, are on par with those of a Fortune 500 company. Instead of 2 or 3 plans, you can offer 10 or 12 that appeal to a broader range of employees.

And, we have benefits that we ordinarily wouldn’t have explored, that may really matter to a few employees. Among these are pet insurance, telecommuter tax credits and discount programs on travel and computer purchases. We even got a better deal (7% less) on Apple purchases… which anyone buying computers knows is practically impossible to find.

Why should this matter for an entrepreneur?

As a founder, you’re heads down on your product offerings and selling your services. Your people are focused on what they’re getting in exchange for their time spent with you. They compare benefits when they consider a job. They remember when they’ve told you their benefits didn’t cover something and you did nothing about it. In the years to come, if we don’t satisfy a broader range of more demanding employees, we won’t have anyone to celebrate our growth with.

Next year we’re going to do that Best Places To Work survey again and you better believe I’m going to be watching the feedback in the benefits column. I will also start promoting our benefits in recruitment messages.

Our people, and the ones we seek to hire, take us to where we’re going and if benefits matter this much to them, they need to matter to us. When was the last time you did an employee survey? Do it. I bet you’ll be surprised.

(Note: The provider we selected was TriNet because of their emphasis on entrepreneurs and rapidly growing startups.)

If you like what you read, please follow Moira Vetter at Forbes and share the piece.
What do you think entrepreneurs want to know about managing money or securing capital?

Source: Entrepreneurs Can’t Afford To Ignore HR And Benefits Management – Forbes