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How should we handle managing human resources at our start-up?
We just closed on a round of financing and we want to make sure we properly manage our human resources (payroll, benefits, etc), but we don't want to overspend as we are still young and need to preserve our cash. Any suggestions and/or advice would be much appreciated.
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6 Answers
Some startups are using independant consultants for HR. You should also consider tying in with a sevice like Trinet, Administaff or ADP that can provide payroll, HR, benefits and 401k in one product. This can save time and give you HR structure that is hard to have in a startup.
If you are in Silicon Valley, let me know and I can suggest some people to contact.
Congratulations Mack, depending on your intended employee expenditures, Rick's recommendation of using a PEO (professional employer organization) can be one solution. With over 700 PEO's to choose from, comparing costs and finding the most suitable company can be a challenge.
We specialize in helping entrepreneurs and SME's identify and select the "right" HRO or PEO partner for your growing company.
Bruce Silver
Employers Rx LLC
The CURE for your employee management headaches
http://employers-Rx.com
I concur with Bruce. I recommend PEO if you are serious about being a good boss. Then you can focus on your business and not have to worry about payroll processing, benefits administration, compliance and risk management.
I have a solution specific to startups with less than 10 employees.
Kristian
www.hroplus.com
Depending on the size of your organization, you may want to start off by utilizing a HR Consultant who can help evaluate your needs and implement basic process, procedures, etc. You may also want to look into outsourcing your payroll/benefits administration.
Tiffany Branch, PHR
tiffany@branchcc.com
Utilizing a service like Paychex can save you time, as well as money. You have the benefit of the tremendous expertise as a fraction of the cost - more bang for you buck.
I'd outsource the routine stuff like payroll from the word go it's not worth the effort and can be done more cost effectively that way - it also frees your HR guys to work on the nitty gritty.
Then it's time to task them with the important stuff for start ups.
1. Developing organisational culture - from the outset this should be a priority, with a heavy focus on values
2. Planned recruitment strategy - meeting the right needs at the right times
3. Training and Development - for launch critical operations only, everything else is nice to have
4. Policies and procedures - light touch only, meet the legal requirements, develop other things as necessary, apply common sense in their absence - and make nothing binding, let people know that you'll review further in the future
That's probably the right way to go.
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