When your company was struck by a crisis how did your support measure up? Did they fall short or neglect you? Asking yourself these questions is an important way to analyze the value they’re adding to your company while ensuring you have the support you need moving forward. Let’s take a look at some common advisors and the ways they can help (and the ways they might have missed the mark or left you struggling).
Navigating the language of new laws can be exasperating for business owners who don’t have the time or know-how to interpret legal documents and determine what steps they have to take. Even if you feel you understand what new legislation offers or requires, you may not have knowledge of other laws, loopholes, or strategies that could affect how the laws impact your business.
How could an attorney help? They should be able to:
- Give insight on new legislation and what it means for your business and employees
- Provide the knowledge you need and offer advice on how to move forward with any necessary implementations
- Help you properly receive any benefits that you qualify for and may have missed.
- Assist you in strategically abiding by new regulations that could be difficult without proper expertise
However, the cons of only relying on an attorney as an HR business partner are many:
- Are not versed in the best ways to deal with people during a crisis
- Lacks the needed skills and knowledge to advise you on the best approach and language to use when communicating changes to employees
- No training on how to boost employee morale (especially in difficult times)
- Lacks expertise in handling layoffs, financials, payroll, employee retention, benefits, or other difficult situations
Turning to friends and colleagues in a crisis probably comes naturally to most people. You may want to share experiences and try to benefit from each other’s areas of expertise. You have established a rapport with them and most likely trust their advice, but from a business standpoint, it may not be the best course of action.
Your friends and colleagues can help by:
- Offering support as trusted friends and colleagues while navigating changes
- Sharing any areas of expertise they may have without a price tag
Why friends and colleagues aren’t the wisest choice for HR support:
- Their advice may be limited or biased
- Suggestions potentially based off rumors or hearsay instead of fact
- Unable to devote their time when you need it most
- Most likely lack the expertise you need the most
- Limited understanding of the details of your business
Naturally, your internal team will be involved in whatever actions are taken and they are a valuable resource to you in the regular aspects of your business. In unexpected times of crisis, you may find yourself automatically looking internally to seek advice. This may not always be the best option for your business, or it may just not be enough.
How your internal team can help:
- May be able to find creative solutions for sustaining and creating revenue
- With experience working within the company, they may already have ideas on where cuts can be made to loosen up the company budget
Why your internal team may not be enough:
- Sometimes personal investment can create skewed views and decisions based on emotion rather than logic
- Limited expertise in all affected aspects of your business
- Possible inability to look outside the normal scope of their day-to-day to find solutions
- May not have the qualifications in areas you need the most
Professional Employer Organization (PEO)
While your internal organization may run smoothly outside of a crisis, seeking the help of a PEO can not only scale a business under normal circumstances, but can save a business in troubling times, too. PEOs are built to guide, support, and grow businesses every single day, so their experience and expertise could equip your company with the skills and tools needed to build a stronger future.
How a PEO can help:
- Provide access to expert legal advice
- Boost employee morale and collaboration
- Knowledge to sustain or enhance company benefits
- Improved communication company-wide and the language used within it
- Technology to advance and improve the efficiency, accuracy, and cost of payroll and other HR tasks
- Find and improve hidden costs of employment
- Team of professional HR strategists to make the best of tough situations
- Managed susceptibility to discrimination claims and other lawsuits
- Unbiased advice and solutions to contribute to your company’s success
- Expertise in compliance and regulation standards
Choosing your advisors is one of the most important things you will do for your company, especially during tough times. So when you’re faced with a crisis, be sure you’re asking the right questions – how is our company handling the crisis? How are our support systems contributing to our navigation? How have they hindered our potential for growth? Are they creating more issues than solutions? Are they available when we need them the most? Are they taking advantage of our situation? What areas are left poorly managed? How can we protect our company moving forward to correct and avoid this?
If the support you have isn’t cutting it – it’s time to find the partner you need. A trusted PEO can offer you the widest range of services and expertise to get you where you want to be. We’d love to talk with you about what your business needs and how we can help. Click here to start that conversation and find the solutions that are right for you.