Are HR Tasks Negatively Affecting Your Revenue?

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When we hear the word “revenue,” we tend to look at our sales teams, marketing, and our company’s actual products or services – After all, aren’t those the departments or areas responsible for generating revenue?

It’s not uncommon for organizations to overlook the not-so-obvious areas that may be positively or negatively affecting revenue – especially Human Resources!

Here are just a few HR areas that may be hurting your cash flow AND sales.

  • Hiring: What’s your company’s recruitment strategy? More often than not, it’s HR’s responsibility or the business owner’s responsibility to find the next star employee. When HR or anyone for that matter fails to hire the “right” candidate, this new employee can cost you more than their salary. Poor performance, workplace conflict, firing, and re-hiring ALL cost your company money in addition to the fact that you’ll have missed revenue opportunities.
  • Payroll/Salary: Does your company accurately report and distribute payroll each month? Click here for a list of lost income scenarios which can result from payroll mistakes. In addition, you may actually be overpaying some of your employees – who designs your company’s pay grades? As you know, outgoing expenses directly affect your net income each month.
  • Priorities: Human Resources isn’t just responsible for controlling costs. They need to work with executives to identify and prioritize the areas of business (and the people) that generate the most revenue.Who is your company’s star? What is your most profitable department? What are you doing to reward and retain them?
  • Leadership Development & Training: HR is often responsible for planning and conducting on-site training, continuing education and leadership development. Are you giving your employees and management teams all of the tools and resources they need to succeed and generate more revenue?

If your company is struggling in any of the 4 aforementioned areas, please contact us today. HR bottlenecks can quickly destroy your revenue potential and can develop into much larger problems if they are not addressed and corrected.

Sometimes all HR needs is a little support! Employer Solutions Plus offers a variety of employee management and HR solutions, designed to put your company in a much stronger financial position. You focus on growing your business, and we’ll make sure HR is properly maintaining it!