All businesses are unique in their size, composition, and mission. And so, tools and strategies that work for one business might not work for another. Here we will discuss some key features of small to medium-sized businesses (compared to larger-scale enterprises) and how to choose the right HR tech for you.
Small to Medium-Sized Businesses: What They’re All About
Contrary to popular belief, small to medium-sized businesses (SMBs) actually make up the largest proportion of enterprises! This means that the majority of the businesses you might be familiar with are likely SMBs. These organizations can range in size from anywhere between 1-500 employees and are actually reported to have been one of the driving forces in economic recovery following the COVID-19 pandemic – that’s quite a large impact! How are these SMBs so successful? Among many contributing factors, investing in quality HR tech is a great way to cut down on time and costs while promoting employee engagement and satisfaction.
Does your business qualify as small to medium in size? Let’s break down some of the main steps to finding HR tech that works for your SMB.
Carefully Selecting Your HR Tech: A “How To” Guide
When looking to invest in HR tech platforms, there are several key steps you can take and things to consider:
- Goals: upon entering your HR tech search, it is important to clearly establish your goals. What are you looking to get out of this investment? How would you like to improve your SMB’s HR? Once you’ve framed these goals, your search can begin – you have the mindset and direction to locate a service that suits your needs and motives.
- Costs: although it may seem obvious, it is essential to contrast and compare the monetary costs of your HR tech investments. A great way to assess costs is by looking online at different platforms that offer digital HR services. However, a common issue encountered is a typical lack of transparency. Many companies won’t disclose their pricing online, which can be perplexing. The solution? Consider platforms with candid pricing. For example, platforms like LIVD offer fair and transparent pricing options on their website – say goodbye to deep dives and time wasted locating service pricing!
- Benefits: a great way to approach any life decision is by weighing the costs and the benefits. The same applies when choosing the right HR tech for your SMB! How will your investment benefit you and your employees? In what specific ways (e.g., time, money, additional resources) might HR tech make your life easier? Once you’ve found a platform whose foreseeable long-term benefits outweigh the expected costs, you’re all set to start improving your SMB’s HR Management and ultimate success!
Here are a few tips to keep in mind as you look for your ideal HR tech:
- Take your time – big change doesn’t happen overnight! Do your research so your investment can positively impact your team in all the ways that count.
- Narrow your search – don’t waste time looking at HR tech options that aren’t SMB-specific. This is where companies like LIVD come into play – it’s important to choose HR tech platforms that specialize in SMBs! That way, each and every one of your team members will be accounted for, using services created to support smaller-scale enterprises.
Although the search for SMB HR tech services can become overwhelming, we are here to support you and are happy to answer any questions you encounter on your journey – after all, it’s our specialty!
