According to the SBA, the annual, average per employee cost of human resource activities is $1,563 for companies with less than 250 employees. And the annual cost of workplace and tax compliance is $1,498 per employee.
Add to that the cost of software systems, learning best practices, and rectifying mistakes in the form of overpayments, tax penalties, regulatory fees, litigation, employee turnover, or simply hiring the wrong person, and the price tag for HR increases significantly.
And that doesn’t even begin to include your time. In small to midsize businesses, it’s not unusual for the CFO, president, or the owner to handle the HR because there’s no one else who can. Such a practice takes up precious time, time that could and should be spent running or furthering your company.
Yes, handling HR all on your own is a costly proposition. And one that may lead you to contact Tilson. There’s no better way to get the HR expertise, the peace of mind, and the time saving you—and your company—need.