My friend read my last post and request me to highlight the waste. The math is straightforward.
For SMEs with <50 to 100 employees, business owners will typically take care of recruitment and payroll by themselves or their Finance Manager. Generally, people believe that the two HR activities are to hire people and pay them.
They interview and bring the “right” candidate on board and pay their salary. When times pass, the challenges will surface, and they might not limit to low employee engagement, tardiness, absence, sick leave, attrition, poor customer satisfaction, and compliance. Business owners will then spend time fixing the challenges instead of concentrating on their core business. They look for new employees who will learn your business before contribution, ex-employees had accessed to your customer list and pricing strategy, you lost your customers to your ex-employee, etc. These are all tangible and intangible waste. The amount could be significant, and they sound familiar to a lot of SMEs. In some cases, even multinational companies have anticipated the same challenges.
The takeaway is our service is value-added to your business, and the fees you pay to us to provide HR solutions are less than half of your waste.