Beacham HR Consulting

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𝐏𝐚𝐲𝐫𝐨𝐥𝐥 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐬𝐦𝐚𝐥𝐥 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 Managing the payroll for your business effectively is crucial for all employers. Payroll is a somewhat thankless HR deliverable, as all employees (rightfully) expect that it will just happen and be correct. As a small business owner there are some baseline considerations to note. 1. 𝐓𝐢𝐦𝐞𝐥𝐲 𝐚𝐧𝐝 𝐀𝐜𝐜𝐮𝐫𝐚𝐭𝐞 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬. Ensure that employees are getting paid accurately and on time, every pay period. 2. 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐰𝐢𝐭𝐡 𝐋𝐚𝐰𝐬 𝐚𝐧𝐝 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬. Ensure that you are following all the relevant IR legislation and tax regulations. This includes correctly classifying employees, withholding the right amount of taxes, and filing payroll taxes on time. 3. 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐏𝐚𝐲𝐫𝐨𝐥𝐥 𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬. Employees want and deserve payroll process that are smooth and efficient, with minimal errors. 4. 𝐂𝐥𝐞𝐚𝐫 𝐏𝐚𝐲𝐫𝐨𝐥𝐥 𝐏𝐨𝐥𝐢𝐜𝐢𝐞𝐬. There should be clear, documented payroll policies that everyone understands. 5. 𝐑𝐞𝐠𝐮𝐥𝐚𝐫 𝐀𝐮𝐝𝐢𝐭𝐬 𝐚𝐧𝐝 𝐑𝐞𝐯𝐢𝐞𝐰𝐬. A regime of regular audits and reviews of the payroll processes should be in place to identify and address any discrepancies in a timely manner. For a conversation on your payroll email [email protected] #SME #PAYROLL #HR Elizabeth Beacham Michael Minogue

𝐖𝐡𝐞𝐧 𝐒𝐡𝐨𝐮𝐥𝐝 𝐚 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐄𝐬𝐭𝐚𝐛𝐥𝐢𝐬𝐡 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐇𝐑 𝐂𝐚𝐩𝐚𝐛𝐢𝐥𝐢𝐭𝐢𝐞𝐬? As businesses grow, managing human resources becomes increasingly complex. There are some key considerations that might drive your approach. ·      Number of employees – as a guide when your employee count approaches 50, managing payroll, benefits can become more complex. ·      Compliance Requirements - growth generally brings a broader and deeper regulatory landscape to navigate. ·      Employee experience – from recruitment and on-boarding to employee development engagement, all become more complex and benefit from strategy and streamlined processes as your business grows. ·      People strategy that supports business’ goals – strategic workforce planning, culture, organisation design, reward, performance become higher priorities and require expertise that most business leaders can’t expect to have nor the time to dedicate. 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐛𝐞𝐬𝐭 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐚𝐭 𝐢𝐭𝐬 𝐬𝐭𝐚𝐠𝐞 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡? Of course, you can outsource the development and delivery of your HR requirements. This approach has potential cost benefits over bringing HR expertise in-house, provides the necessary expertise to meet compliance requirements, and supports scalability, allowing business leaders to focus on the core business. I advocate for a hybrid approach if your business is at this decision point. Businesses vary in their needs and complexity, so it is essential to seek expertise to assess these needs and propose the best approach moving forward. This could involve external work to set up the internal HR capability, ensuring that people risks are mitigated and providing a platform for internal support as the business scales. Alternatively, a combination of some internal HR capabilities and some outsourced services can offer a balanced solution. My concluding comment is that you should not wait to consider your approach. Aligning your people strategy with your business plans early is critical, and implementation can happen over time. If you would like to discuss what is the right approach for your business, please contact me at [email protected] #HR #SME #HRcapabilities #HRSTRATEGY

𝗪𝗵𝘆 𝗦𝗺𝗮𝗹𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝗡𝗲𝗲𝗱 𝗖𝗼𝗿𝗲 𝗛𝗥 𝗣𝗼𝗹𝗶𝗰𝗶𝗲𝘀 𝗮𝗻𝗱 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀 Running a small business is no small feat, and having solid HR policies and processes can make a world of difference. Here’s why: 1. Stay Out of Trouble HR policies help you stay on the right side of the law. From fair hiring practices to workplace safety, having clear guidelines keeps you compliant and avoids any nasty legal surprises. 2. Keep Things Fair Consistency is key. With clear HR policies, everyone knows the rules, which means fair treatment across the board. This boosts morale and builds trust within your team. 3. Smooth Operations Well-defined HR processes streamline tasks like payroll and performance reviews. This means less time on admin and more time focusing on growing your business. 4. Grow Your Team Investing in training and development policies ensures your team has the skills they need to succeed. This not only improves performance but also helps your business thrive. 5. Handle Conflicts Easily Having a plan for dealing with conflicts and grievances means issues get resolved quickly and effectively. This keeps the workplace positive and productive. 6. Attract Top Talent A structured HR framework shows potential employees that you’re serious about your business and your team. This helps attract and retain the best talent out there. In short, having core HR policies and processes in place is essential for running a smooth, compliant, and successful small business. It’s an investment in your team and your future. #sme #smallbusinesses #HRpolicies

This coming Friday marks a year since we lost my sister in law, Alison, to the horrible disease that is cancer. After also losing a good mate from golf, Mark, and also Mario in The Philippines we kicked off One Day in their honour. On the 22nd October I’m playing golf with 51 other players at Castle Hill Country Club for 24 hours, non stop. Every cent that we raise from our personal fundraising goes to Cancer Researchers via Love Your Sister. This year I am devoting my efforts to Tommy Lusch and Gordon Anthonisz. If you can please support in any way that would be truly appreciated.🙏🏻🙏🏻 The link is here thanks guys: https://lnkd.in/gijKkG48 Thanks so much!! #onedaygolfau

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An insightful read Elizabeth Beacham