While business growth is important, compliance is an essential ingredient for small business risk management to prevent even bigger problems
5 Overlooked Ways Risk Increases as Your Company Grows
The more employees you have, the greater likelihood something will go wrong. How do you grow your team without also growing your risk?
Business growth is a good thing. But the more employees you have, the greater likelihood something will go wrong. How do you grow your team without also growing your risk?
Consider this: many small businesses start out with an office manager who juggles it all to keep the small, tight team running smoothly – handling payroll, recruiting new hires, overseeing the employee benefits plan, and filing workers' comp claims — along with a dozen other things.
As the company grows, the office manager spends more time recruiting and hiring. But more employees mean additional regulations and less time to figure out how to maintain compliance. That one person is now worrying about payroll laws and reports, labor law issues, employee accommodations, OSHA requirements, and all sorts of potential problems, sometimes with no formal training or education in these critical functions.
Download our free white paper, 5 Overlooked Ways Risk Increases as Your Company Grows, and learn more about the potential risk your company’s growth may be facing – as well as strategies to protect yourself. Included in this download is a quick reference to employment laws that apply as your company hits new growth stages.
To access our free white paper, click here or contact your certified HR expert. Not a current Stratus HR client? Book a free consultation and our team will contact you shortly.