Why do almost 50% of businesses fail within the first 5 years? One reason is neglecting their HR functions. Companies which ignore their HR are likely to face compliance issues and have lousy hiring practices, high turnover rates, and a toxic work environment. All these issues hurt their bottom line. Research shows that businesses with
Knowing how to improve HR efficiency can be highly beneficial for small businesses. Your human resources department might not only handle payroll functions but have myriad other responsibilities, too. Frequently only one or two people handle all HR tasks, leading more strategic HR initiatives to take a back seat. Making a more efficient Human Resources