Las Vegas Small Business Human Capital Management
For any business, Human Capital is the most valuable asset. Let’s look into Human Capital Management for Small Business in general:
HIRING is the most important function. “Hiring” should be based on long term Small Business Vision. This avoids emergency hiring situations.
Small Business Human resource management focuses on hiring “right” employees that have skills and talents to support Small Business Vision, Culture and Mission. They should be best learners and problem solvers with good judgement capabilities.
Small Business should be willing to work hard with likeable and pleasant personality while interacting with others. These types of people are always in high demand.
Every employee is not suited for any job in your Small Business. Matching every employee with right job is very important for Small Business growth.
For a Small Business, it is very possible that there is no separate Human Resources organization in the company. Top management team members like Business Owner, CEO, CFO, etc. participate in hiring employees. HR Organization’s responsibilities are distributed throughout the entire organizations.
Let’s talk about Small Business employment laws. In 1980 there were 125 laws. Now there are 2,200 different laws or clauses that employers have to comply with such as Affordable Care Act, Worker’s Compensation, EEOC, Paid sick leave, etc. It may make sense to outsource HR function to one of many Human Resources and Temporary Staffing companies like “Human Resources on Demand”.
OK! You have hired right employees.
Now you are facing even more important Human apital Management challenges to take care of like:
- Keeping talented employees
- Employee performance evaluation and compensation
- Keeping employees motivated
“Motivation is an art of getting employees to do what you want them to do because they want to do it” – Eisenhower
- Keeping employees challenged and empowered
- Getting employees in tune with company Vision, Culture and Strategies
- Implementing appropriate organization structure
- Implementing benefit programs including policies like flexible work arrangement, work from home, etc.
- Complying with Labor Laws
- Managing to lower Labor Cost including Layoffs
- Educating, Training and Coaching employees
Cost of Human Capital Management
You should set the Human Resources agenda defining who is in charge of what responsibilities as specified above. They should focus on tactical and strategic issues facing your business. Employees should be kept informed about what is being decided by including them in the decision process.
Hope you can manage your Human Capital with “In-House” expertise.
But if you need help, go to iSolutionator Solutions Mall (isolutionator.Com) to find qualified Solutions Provider.