Employers have a lot on their plates, regardless of their industry. From a growth, revenue, and stakeholders’ perspective, to the daily operations, inventory, financials, and team dynamics; there’s no shortage of potential priorities at any given time.
Businesses large and small often need additional support to accomplish objectives, tackle initiatives and facilitate effective communication to their teams along the way. Fractional HR (human resources) can be a game changer for these organizations.
Fractional HR allows organizations to outsource their HR responsibilities to a third party instead of establishing an internal HR department. This can help manage expenses and overhead costs. It’s great for startup organizations and small businesses that need to establish more structure in their HR policies and practices as they grow.
But it’s also beneficial for mid-to-large businesses that want additional support with HR responsibilities, projects, or perhaps want an outside perspective or expertise in handling compensation analysis, employment investigations, assessing compliance, or reviewing benefit plans.
Fractional HR is sometimes referred to as outsourced HR, interim HR, or HR managed services. The term “fractional” means you benefit from having someone with a high level of experience and expertise work for your business on a part-time or temporary basis – in a manner that is tailored to meet the needs of your organization. Fractional HR offers businesses an HR consultant that is readily available and can focus efforts on priority tasks and projects. It also offers:
- Expertise – You want subject matter experts handling important aspects of your business.
- Efficiency – You want support now for things that simply cannot be on the back burner.
- Strategy – You want to offload staff and strategize the efforts of your team to align with business goals.
- Gap – You want to close the gap in skills and time that is needed to accomplish various goals.
Human Resources (HR) represents elements of your business that cover a broad spectrum of priorities. To determine whether or not your business may benefit from HR outsourcing, consider the following questions.
- Does your business need to hire new talent?
- Are you attracting the right talent?
- Could your organization benefit from having support within the hiring process and onboarding?
- Does your organization have a “brand” or reputation as a top choice employer?
- Does your business have the right people in the right seats in order to accomplish business goals?
- What is your organization doing to enhance employee retention? Do you have a strategy?
- Are there aspects of your workplace culture that need improvement? Fractional HR can measure employee engagement and make suggestions for improvement.
- Are you interested in professional development programs?
- Would you benefit from employee engagement efforts, coaching and mentoring initiatives?
- What about regulatory compliance and reporting, is that a need for your business?
- Does your business have a compensation structure that is competitive within the market?
- What about the importance of performance management, leadership development, and assessing organizational risk? Are there opportunities to strengthen these aspects of your business and operations?
- Are there opportunities to streamline and improve HR processes, templates, forms, letters, and documentation?
- Would you like support with offboarding staff and exit interviews.
- Do you currently have a diversity and inclusion program in place?
- Could you use support in administration of benefit programs and management of business relationships with providers?
- Are there HR-related projects on your list, but no time for your team to make progress on them?
- Are you looking for support for upcoming changes that will impact your teams?
- Does your employee handbook need review and updating?
- Are you confident in your business’ compliance to State and Federal regulations, record-retention rules and filing processes?
Fractional HR allows businesses to identify their greatest areas of need, then call in the experts to get to work on that list. Fractional HR can be arranged for as little or as much as your business needs, so it is tailored to you and your list of priorities. We serve clients in all industries and would be happy to serve your business as well.
To learn more about Alternative HR and their fractional HR services, go to https://alternativehr.com/hr-services/#hr-fractional-services.
The firm offers practical and cost-effective HR solutions, including HR management support, compliance, compensation and benefit assistance, recruitment and selection services, employee development and leadership coaching.
Take the first step towards streamlining your HR processes, maximizing your business potential, and feeling better about your people. Contact Alternative HR today for a personalized consultation, and discover the benefits of partnering with one of the nation’s premier providers of HR solutions for small and medium sized employers. Your HR success starts here!