The cost of wrongful termination of an employee for a small business in the United States could result in hefty fines, expensive lawsuits, and even potential loss of business.
Yet, according to the U.S. Chamber of Commerce most small businesses don’t always have a human resource staff or department.
A dedicated full-time HR department is often not cost-effective for these small businesses, especially during and after the pandemic.
|Photo by Sora Shimazaki @pexels|
So how do they operate?
Most small businesses either have owners or employees wearing multiple hats, including the role of HR.
This is despite the scope of HR compliance and functions being vast.
Aside from focusing on growing their business, owners and their chosen untrained-in-HR employees have to navigate labor regulations, form HR policies, and tackle employee management, including concerns before they escalate into complaints and end up in court as wrongful termination.
Small business owners also have to spend considerable time on wage compliance, on federal, state, and local taxes.
This routine is more challenging, leaving the owners not having enough time for themselves or avoiding any slip-ups. It's a considerable risk.
Could small business owners then put their HR on autopilot and outsource the process to experts?
"There are 5.6 million small businesses in America. They populate about 50% of the American workforce. And less than 4% of these companies have an HR Manager," Allan said during an interview recently with Nasdaq.
Bambee, Allan says, aims to solve most of the problems small businesses face, starting with the critical ones, at $99 a month!
This makes Bambee the most affordable payroll solution for small businesses.
How does Bambee offer its services at such an affordable price?
Allan says Bambee "only services companies that have less than 99 employees. Their need for the HR manager's services and time is not as demanding as a Fortune 500 company."
Today, Bambee has 10,000 subscribers and growing.
As for the name Bambee, Allan says the word is reminiscent of the 1942 animated drama film Bambi and can be used as alliteration.
The Bee in it, the CEO says, reflects the way honey bees are - a perfectly harmonious workforce.
Bambee is focusing on adding this harmony found innately in the bees, to America's small businesses. If you are a small business owner, you can join Bambee here.
Note: This article was originally published on LinkedIn by this author: How U.S. Small Biz Owners Can Avoid HR Compliance Risk At $99 A Month
LinkedIn doesn't include demographics from organizations in this stat.
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