B12 Business Top 12

Connie Laughlin

It’s not only smart - it’s a necessity to ensure the most efficient solutions are in place for HR and risk management. Even if everything is going well and you feel no pain, strategic planning is a must, as that’s when you might be the most vulnerable.

1) Don’t have a laid back attitude about employees. Small businesses suffer more than you think due to Employee Fraud, according to the Association of Certified Fraud Examiners, it costs on average around 5% of revenue annually.

2) In addition to fraud, Employee Theft can take a big bite out of profits. Ensure you have appropriate HR policies and procedures in place to deter theft from happening and a solid risk management solution to catch it, if it does.

3) Business leaders need to Focus on Sales and Service Production – not administrative duties because you’re probably not adequately trained, if you are and do it appropriately it’s a major time suck!

4) You need a Certified Professional in Human Resources for advice on compliance and all things employee related. Make sure your ducks are in a row should you find yourself in a grey area regarding any employee situation. You might think you’re justified in firing an employee or by ignoring an employee’s request, only to find out it should have been handled differently!

5) The main goal of a Human Resource Department (with a highly certified and trained HR pro) is to maximize the return on investment for all employees, while minimizing potential liability.

6) If you have a Workers’ Compensation claim and believe it’s fraudulent - wouldn’t it be nice to know that this phony was being followed with a video camera while he went on a fishing trip, carrying heavy ice chests, shoving off from dock, casting out lines, and pulling up anchors? Wouldn’t it be nice to know that your carrier worked diligently to keep loss run reports clean and your modifier rating low?

7) Periodically assess your business for weaknesses. Multiple types of risk assessments need to be conducted for a myriad of liabilities. A key strategic initiative is to have a robust safety program that includes risk assessments for safety hazards. If you own a blue/grey collar company hiring a highly trained and certified safety consultant to enhance your Safety Program, to create and modify safety manuals and training courses should be a top priority! And, your equipment and building must be up to code.

8) Electronic Security - If you have fleet vehicles, put GPS tracking devices on them. Install video surveillance equipment at your business locations, interior as well as exterior. Enhance your computer and network security.

9) Hire Pro’s - the salary range for experienced Pros in Human Resources and Certified Safety Consultants start in the high five figure range. If you believe this is more than your small to medium sized company can afford - outsource these duties to a Professional Employer Organization company on a percentage based fee – it’s affordable for all budgets.

10) The growing trend of Outsourcing to a PEO streamlines organizations in areas, such as; payroll, HR, safety, risk management, workers’ compensation insurance, and optionally benefits. It’s perfect – you’re streamlined in perfect formation and efficiency, with the best risk management and cost protection strategies working for your benefit.

11) The PEO puts better processes in place and for a lot less money than it would cost in-house. “…outsourcing works well when the outside vendor brings a set of best practices that are outside your company’s expertise…” Bill Gates, Business @ The Speed of Thought.

12) There’s a huge Financial Bonus for companies that utilize the strategic initiatives discussed in this article – they keep your labor burden low and stable! And, the service is tax deductible.

Make sure your PEO is ESAC accredited (like FDIC for the banking industry), by visiting http://www.esacorp.org/. This website will show you the PEO’s in your state that have this certification.

Connie Laughlin is a business consultant for UniqueHR, a locally headquartered PEO. You may contact her at (361) 852-6392 #112, or conniel@uniquehr.com.


B12 Business Top 12 Connie Laughlin It’s not only smart - it’s a necessity to ensure the most efficient solutions are in place for HR and risk management. Even if everything is going well and you feel no pain, strategic planning is a must, as that’s when you might be the most vulnerable. 1) Don’t have a laid back attitude about employees. Small businesses suffer more than you think due to Employee Fraud, according to the Association of Certified Fraud Examiners, it costs on average around 5% of revenue annually. 2) In addition to fraud, Employee Theft can take a big bite out of profits. Ensure you have appropriate HR policies and procedures in place to deter theft from happening and a solid risk management solution to catch it, if it does. 3) Business leaders need to Focus on Sales and Service Production – not administrative duties because you’re probably not adequately trained, if you are and do it appropriately it’s a major time suck! 4) You need a Certified Professional in Human Resources for advice on compliance and all things employee related. Make sure your ducks are in a row should you find yourself in a grey area regarding any employee situation. You might think you’re justified in firing an employee or by ignoring an employee’s request, only to find out it should have been handled differently! 5) The main goal of a Human Resource Department (with a highly certified and trained HR pro) is to maximize the return on investment for all employees, while minimizing potential liability. 6) If you have a Workers’ Compensation claim and believe it’s fraudulent - wouldn’t it be nice to know that this phony was being followed with a video camera while he went on a fishing trip, carrying heavy ice chests, shoving off from dock, casting out lines, and pulling up anchors? Wouldn’t it be nice to know that your carrier worked diligently to keep loss run reports clean and your modifier rating low? 7) Periodically assess your business for weaknesses. Multiple types of risk assessments need to be conducted for a myriad of liabilities. A key strategic initiative is to have a robust safety program that includes risk assessments for safety hazards. If you own a blue/grey collar company hiring a highly trained and certified safety consultant to enhance your Safety Program, to create and modify safety manuals and training courses should be a top priority! And, your equipment and building must be up to code. 8) Electronic Security - If you have fleet vehicles, put GPS tracking devices on them. Install video surveillance equipment at your business locations, interior as well as exterior. Enhance your computer and network security. 9) Hire Pro’s - the salary range for experienced Pros in Human Resources and Certified Safety Consultants start in the high five figure range. If you believe this is more than your small to medium sized company can afford - outsource these duties to a Professional Employer Organization company on a percentage based fee – it’s affordable for all budgets. 10) The growing trend of Outsourcing to a PEO streamlines organizations in areas, such as; payroll, HR, safety, risk management, workers’ compensation insurance, and optionally benefits. It’s perfect – you’re streamlined in perfect formation and efficiency, with the best risk management and cost protection strategies working for your benefit. 11) The PEO puts better processes in place and for a lot less money than it would cost in-house. “…outsourcing works well when the outside vendor brings a set of best practices that are outside your company’s expertise…” Bill Gates, Business @ The Speed of Thought. 12) There’s a huge Financial Bonus for companies that utilize the strategic initiatives discussed in this article – they keep your labor burden low and stable! And, the service is tax deductible. Make sure your PEO is ESAC accredited (like FDIC for the banking industry), by visiting http://www.esacorp.org/. This website will show you the PEO’s in your state that have this certification. Connie Laughlin is a business consultant for UniqueHR, a locally headquartered PEO. You may contact her at (361) 852-6392 #112, or conniel@uniquehr.com.
Alice Business Today - May 2013