Why is HR important to SMEs?

SMEs who give HR low priority are missing a trick. A strategic approach to HR can add real value to the business and actually support rather than stifle its growth.

Here are our top 10 reasons why SMEs need to pay more attention to HR:

  • Employment legislation – we live in a society that is ever changing and keeping up with employment law is vital and the penalties for getting it wrong can be se severe.
  • Performance Management – pay attention to performance management there will be a direct impact on the bottom line.
  • HR Systems – have the right ones in place and life will be easier.
  • Don’t ignore diversity – it can bring a new prospective to your business.
  • Benefits – it may not be possible to compete with bigger organisations on pay but clever use of benefits can help bridge the gap.
  • Employment engagement – there is evidence to show there is a direct link between an engaged workforce and improved business performance.
  • Staff development – focusing on in-house talent can help businesses to survive and thrive during tough times.
  • Talent – don’t ignore the talent in your business, or when the economy picks up they will move on if they do not feel appreciated.
  • Absence – the cost of Absence to a business can be high.
  • Staff management – do this well and in a caring manner they will go the extra mile and contribute to your success.

For advice on how HR can help your individual business please contact Mandy at MB HR Support.

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