What Toll Does Managing People Take on Small Business?
Business trends are always changing. As we launch into 2019, it’s a great time to reflect on the performance of the past and focus on what may change in the year ahead. That’s why Oasis conducted a recent survey of nearly 300 U.S. small business owners to help people like you to be aware of movement and changes when it comes to important business issues affecting your business.
“Offering competitive compensation and benefits,” is considered to be a challenge for 72% of all small businesses, with one in ten considering it a serious problem. This is especially the case for those who have 50 or more employees (76%) and have been operating for longer than 20 years (75%). “Attracting strong, competent management and dedicated, capable staff,” “creating operational efficiencies with overall HR administration,” and “developing employees and future leaders” are the next most serious problems among small businesses.
Top Five Workforce Challenges
How much of a problem, if at all, are each of the following HR administration issues for your business?
|72%||Offering competitive compensation and benefits|
|71%||Attracting strong, competent management and dedicated, capable staff|
|69%||Creating operational efficiencies with overall HR administration (e.g., expense management, labor costs, new-hire paperwork, paid time-off tracking, payroll and benefits administration, etc.)|
|68%||Developing employees and future leaders for succession|
|66%||Managing the hiring process and tracking applicants (e.g., posting jobs, tracking flow of applicants, onboarding, etc.)|
Only 14% of survey respondents said they had experience with outsourcing HR administration, while 7% reported they “didn’t know this was an option.” Oasis views this as an opportunity to more broadly communicate the value of having an HR partner to help drive workforce initiatives, and aid small business owners in keeping a competitive edge. For those with experience in outsourcing HR administration, the top three services most frequently outsourced were “payroll administration” (58%), “401(k)” (42%), and “benefits” (40%).
Oasis’ mission is to deliver comprehensive, highly personalized HR management services through a team of experts, enabling our clients to focus their time and resources on their business. We have successfully met the HR-related needs of organizations small and large, public and private, across the United States for more than 20 years. Our dedication to service, expertise, and professionalism continues to generate stellar growth, national recognition, and loyal clients.
By offering integrated, cost-effective solutions for your business, Oasis brings remarkable value to your company which allows you to:
- Focus on Your Core Business
Reduce time spent on nonrevenue-producing tasks and spend more time on what counts: developing and retaining your clients.
- Become an Employer of Choice
Provide world-class benefits programs that enable you to attract and retain great employees.
- Reduce Administrative Costs
Outsource your HR, employee benefits and payroll administration tasks to a provider with economies of scale and broad expertise.
- Maintain Peace of Mind
Protect your business and help ensure legal compliance with improved risk management, training and claims processing.
Contact Oasis, A Paychex Company, today! Call 800-557-6393 or click here.