MYOPIC BUSINESS DISORDER

Are you shortsighted in your business savvy?

A business suffers from Myopic Business Disorder when the business owner lacks adequate discernment in short-term and long-range planning. One just sees what’s in front of them today

Most business owners have a myopic view of their own business because they rely on information passed on to them by employees that are lazy, lack expertise, or experience in important areas of their operation. When businesses carry on in areas that are operating at a disadvantage it may have negative consequences!  

Investigate practical options that could shore up your business operation, reduce liability, streamline transactional administrative duties, and likely to save time and money.

If you own or operate a company from 2 to 200 employees there is a good chance you are not sure if your company is legally protected in a myriad of ways.  You might not understand what a lot of worksite employee laws mean or know how to handle many HR and business administrative duties if your office manager had to leave. 

What would you do if a workers’ compensation insurer continued to pay on a claim you believed to be fraudulent? Is your safety manual and employee handbook up to date? Do you have the appropriate safety meetings, ever?

How can you keep the cost of your employees predictable? Seriously, what different kinds of training and risk management strategies do you have in place?

If you have claims, such as, unemployment or workers’ compensation insurance, your rates can be affected. Additionally, if you experience employee issues in your workforce your labor cost goes up because you’re not implementing best practices in business. 

Are you an agent of change? Or are you doing the same thing you have always done, the very same way, day after day expecting a better outcome? I have read that we spend less than 25% or our workday doing what we went into business to do, therefore, spending 75% of our time doing other things.

You absolutely need the best risk management practices in place now. If you are operating without observing all the worksite employee laws and without appropriate processes and paperwork in place you might want to keep an attorney on retainer. Every business owner needs the advice of a certified Professional in Human Resources (PHR) or you could find yourself sitting across from your attorney or worse yet, in court. Same being said of working with an excellent CPA. As, no one wants to meet with the IRS, or handle money ineffectively. 

It may be time to do some homework, hire a certified pro, or your best bet might be to outsource your HR to implement best practices. Outsourcing will be your best bet, as salaries for pro’s will cost you!

Outsourcing HR should cost pretty much the same as what you’re spending in house – so it totally makes financial sense.  These non-revenue generating duties on the HR side are payroll, human resources, safety, and employee related risk management.

Highly accredited PEO’s (Professional Employer Organizations) bring best practices into place with a vast offering of services and certifications to protect you from liability. You can easily verify their credentials at NAPEO (National Association for Professional Employer Organizations) - https://www.napeo.org.

You are sure to find deep discounts in PEO’s optional health insurance and other benefits under their large group umbrellas! You just might see a substantial savings that will make a real impact in your books.

Let your small to medium business lighten the admin load, wipe the sweat off your brow, get a strong risk management program in place, and get back to work.