We understand the hurdles growing businesses face in managing HR. Small and medium-sized businesses need the guidance of an experienced HR professional, but hiring a full-time employee might not be feasible at this stage. You might be concerned about the cost, or your company might not have the workload to justify a full-time HR position just yet. That’s where fractional HR comes in!
Fractional HR offers a perfect solution to bridge this gap. Essentially, it means you have a trusted HR advisor on your team, but without the costly overhead of a full-time hire. This allows you to scale your HR support as your business grows. It also ensures you have the right level of expertise for your unique needs!
Between 50-60% of companies outsource at least one HR function. But how do you know if fractional HR is the right solution for your business? In this blog post, we’ll delve deeper into the benefits of fractional HR to help you determine if it’s the right solution for you.
What is Fractional HR?
Think of it as having a trusted HR expert on your team, but on a part-time basis. Unlike traditional outsourcing, where services are delivered remotely, fractional HR offers a more integrated approach. At Envol, we operate as an intricate part of your team, providing support throughout the entire Employee Life Cycle while building out processes to help you thrive as you scale.
Why Fractional HR?
Building a strong HR foundation is crucial for any growing business, but the traditional route of hiring a full-time HR professional can be costly and inflexible.
Fractional HR offers a powerful alternative, providing you with the benefits of senior HR expertise without the full-time commitment!
Fractional HR might be the right move for your company if:
- Your company is in a growth stage: You need HR support, but your workload doesn’t justify a full-time HR professional yet. Fractional HR allows you to scale your HR support as your business grows.
- You need access to senior HR expertise: Building a strong HR foundation is crucial, but hiring a top-tier HR professional full-time can be expensive. Fractional HR gives you access to experienced professionals without the full-time commitment.
- You’re facing specific HR challenges: Do you need help with a specific project like developing an employee handbook or navigating a compliance issue? Fractional HR lets you engage an expert for targeted assistance!
- You have limited HR budget: This approach is a cost-effective way to get the HR support you need without breaking the bank. You only pay for the services you use.
- Your company lacks in-house HR expertise: A dedicated HR professional can provide the guidance and support your leadership team needs! They can help your leadership team make informed HR decisions.
- You want a more strategic HR approach: Fractional HR professionals can partner with you to develop and implement HR strategies that align with your business goals.
- You have a geographically dispersed workforce: Fractional HR offers a flexible solution for managing HR needs across different locations.
If any of these scenarios sound familiar, then fractional HR could be a perfect fit for your company!
Where Fractional HR Professionals Can Support Your Business
Feeling overwhelmed by the ever-growing demands of HR management? You’re not alone.
As your business scales, navigating recruitment, employee relations, compliance, and more can become a full-time job in itself! But before you commit to hiring a full-time HR professional, you might want to consider fractional HR.
With this approach, HR professionals act as an extension of your team, providing targeted support in key areas that can significantly impact your company’s success.
Here are some (of the many!) ways they can support:
- Recruitment & Onboarding: Attract top talent and streamline your onboarding process to increase retention of new hires.
- Performance Management & Training: Implement performance management systems with clear goals and expectations, conduct regular performance reviews and provide ongoing feedback, and develop and deliver training programs to enhance employee skills.
- Administration: Manage and ensure the accurate documentation of HR admin-related work such as employee benefits, time-off, and payroll processing.
- Compliance: Stay on top of ever-changing employment laws and regulations, develop and maintain compliant HR policies and procedures, and conduct audits and ensure adherence to labor regulations.
- Employee Relations: Address employee concerns and mediate workplace conflicts, fostering a positive company culture of trust and open communication.
Benefits of Fractional HR
Tired of juggling HR responsibilities while your business takes off?
Fractional HR offers a strategic solution, providing you with a team of seasoned professionals for a fraction of the cost who understand the unique challenges faced by growing companies.
Here’s how it can benefit your business:
- Cost-effective: Get access to senior HR expertise without the full-time salary and benefits.
- Scalable: Adjust your HR support as your business grows – access everything you need, and nothing you don’t!
- Strategic: As your strategic HR partner, we work collaboratively to develop and implement HR processes that fuel your growth.
- Personalized: Benefit from a dedicated fractional HR professional who understands your unique needs!
- Peace of Mind: You can focus on running your business, knowing your HR needs are taken care of.
Ready to unlock the potential of your business through fractional HR? Let’s chat! We’d be happy to connect and explore how we can help you build a strong HR foundation for future growth.
Let’s do this!