Simplifying your life and business: HR as a Service

Running a small business is a multifaceted endeavor, and one of the most critical aspects is managing human resources (HR). Small business owners often find themselves grappling with HR challenges, and it's crucial to understand the impact this has on their time and focus. Let's explore some eye-opening statistics that shed light on these challenges:

1. Administrative Overload: Small business owners spend a significant portion of their time dealing with HR tasks. On average, they devote a whopping 25% to 35% of their workweek to HR-related activities (source: QuickBooks).

2. Compliance Complexities: Navigating the ever-evolving landscape of labor laws and regulations is no small feat. 38% of small business owners admit they struggle to keep up with HR compliance requirements (source: Paychex).

3. Hiring Hassles: Finding and retaining top talent is a recurring challenge. According to the Society for Human Resource Management (SHRM), it costs an average of $4,129 and takes about 42 days to fill a single job opening.

4. Employee Turnover: The cost of employee turnover can be substantial. On average, it can cost up to 33% of an employee's annual salary to replace them (source: Work Institute).

5. Focusing on Clients: A staggering 72% of small business owners feel that HR tasks detract from their ability to focus on clients and business growth (source: SCORE).

6. Stress and Burnout: Managing HR in addition to other business responsibilities can lead to stress and burnout. 64% of small business owners experience moderate to high stress levels, with HR management contributing to this burden (source: Guidant Financial).

In conclusion, the challenges of HR management for small business owners are substantial and can significantly impact their ability to focus on clients and business growth. With a substantial amount of their time dedicated to HR tasks, it's crucial for small business owners to seek solutions, such as outsourcing HR functions or utilizing HR software, to streamline these processes and regain valuable time to invest in their core business activities. Addressing these HR challenges can lead to improved employee retention, better compliance, and ultimately, more successful small businesses. GlidePath CxO is ready and willing to provide the full range of HR services to you. Please reach out to learn more!