The Real Value of Great HR
At Mineral, we know HR is key to the success of a business because it is our business. But recent findings from our State of HR survey bring this to light in new ways. They paint the picture of HR’s contribution to growth and productivity, as well as the challenges of burnout and lack of resources.
Enterprise businesses already know this. They have robust HR functions leading their organizations and the business intelligence infrastructure to measure the impact. But small and mid-size businesses – the ones Mineral exists to serve – stand to benefit just as much from great HR yet lack the resources to do so.
At Mineral, we are on a mission to close that gap, and we are excited to deliver a new level of expertise to the market to help our clients do just that.
The Value of Great HR
Let’s start with what we’ve learned. Earlier this year, our research partners surveyed nearly 2,700 senior business and HR leaders. In the last two-and-a-half years, these business and HR leaders have navigated business closures, the transition to remote work, regulatory changes, labor shortages, and most recently the prospect of an economic recession. From their feedback, we learned why during this period some companies not only survived but thrived, and why others didn’t.
The takeaway? Today HR is more important to a successful business than ever before.
Business leaders recognize this. Before the pandemic, 50 percent of respondents described HR as very or extremely important. Now 66 percent of business and HR leaders see HR this way.
This shift explains a lot of the trends the HR industry is seeing. Fifty-four percent of our respondents reported increasing their HR budgets during the pandemic. Nearly the same number, 53 percent, expect to raise it even more in the next 12 months.
Mineral is the only company dedicated to addressing the HR and compliance needs of small and mid-sized businesses nationwide. We’ve guided small businesses through more than 1.3 million issues to date, and the breadth and depth of our expertise in not only HR but the unique environment of small and mid-size businesses is unmatched.
As our clients grow, their HR and compliance needs become more complex. The pace quickens, the variables expand, the importance of planning increases, and there are rarely black and white answers. It takes experience and expertise to know how to navigate these issues and transform actions into a strategy.
Our report revealed four key building blocks for Healthy HR and better business outcomes:
- Good Work-Life Balance
- Potential for Career Growth
- Thoughtful Compensation
- Appropriate Workload
The question for many small and medium-sized businesses is how to achieve these four building blocks – on top of managing day-to-day compliance – given their limited resources.
Compliance is Just the Beginning
This is where Mineral can make a big difference for small businesses. Our Guided HR Compliance (GHRC) program puts a dedicated HR expert, powered by our software and content, in your back pocket. With GHRC, your expert gets to know you and your business, and can make sure your HR program is designed to meet your business objectives.
The foundation starts with compliance, including fundamentals like onboarding a new employee through the I-9 process, updating an employee handbook, implementing state-mandated training, building job descriptions, or reviewing exempt and non-exempt employee classifications.
Once the foundation is in place, your HR Advisor will help you implement leading practices to take your organization to the next level. This includes creating career ladders, establishing a pay and benefits scale, updating key processes like onboarding, or supporting investigations.
HR and Compliance Made Simple
If any of that stuff was easy, it would just be a checklist. But this level of customization and engagement requires a detailed understanding of each situation, each business, and each challenge. GHRC helps you build on your HR practices, pairing our expertise with your passion and creativity. Whether your goal is to sleep better at night, address some or all of the Healthy HR building blocks, or to meet your own objectives, GHRC can help you get there.
We see the difference HR expertise makes in our clients’ businesses every day, and our recent survey data shows just what a big impact it can make. I can’t imagine a stronger business case for investing in HR. To learn more about Healthy HR and how GHRC can help you, check out the webinar recording below!