1. Hiring Expenses
As a rule of thumb, hiring an employee typically costs 1.25 to 1.4 times the salary, depending on certain variables.
Thus, if you pay an employee a salary of $80,000, your actual costs will likely range from $100,000 to $112,000, not including the additional resources needed to recruit, hire and train said employee.
2. Average Tenure
On average, Individuals in non-management HR positions spend 2.2 years in their roles.
HR Management is then left to pick up the pieces as they restart the cycle of recruiting, hiring and training another employee.
Time is an invaluable asset for business owners and HR management, although there is never enough of it.
As a business grows, many believe that the only solution is to hire additional non-management HR staff to help offset the administrative workload.
4. Multiple Systems
Benefits, Payroll, Insurance and HR are all on different, complex platforms – and some still use paper.
Benefits are then perceived negatively, instead of being an asset to attract and retain top talent, especially newer generations.
These are all problems we solve.
With CalmHR you:
- Only pay for the work that is being done and the services that are needed specifically for your business. Therefore, the overall cost is much less than hiring internally, which results in lower overhead costs, creating opportunity for growth and expansion in other areas.
- Have an entire team of subject matter experts on hand and at your disposal who are your supportive mechanism.
- Have the ability to spend more time directed toward the primary focus and functions of your business by reducing and offloading administrative burdens.
- Can provide payroll, benefits, retirement, and more, all on one, simple platform.
Finally, a Calm way to handle HR. Schedule your consult today.