Running a business is full of challenges, taking risks to grow your business and reach your goals.
When you add employees, your responsibilities widen because you’re not just accountable to your customers but to the team of people who carry out your vision every working day.
SME Facts
Around 5.6 million private sector businesses are registered in the UK, with SMEs accounting for 99.9% of the UK’s business population.
Figures for 2023 reveal that although owner/s of nearly three quarters of these businesses did not employ anyone else, SMEs account for around 61% of private sector jobs - which translates to 16.7 million employees.
Half of all new businesses
fail within three years of opening. There’s a lot at stake and it’s hard graft which is why most owners work over 60 hours a week to give themselves the best chance of success.
Bringing in ExpertiseAs a business owner you need to have a unique set of skills across many different areas but few, no matter how talented, are likely to have enough expertise across every single area.
Start-up founders are primed to do everything until a certain level of growth is achieved, but there comes a point when resources must be prioritised and specific aspects delegated to those with more specialist knowledge.
“Do what you do best and outsource the rest.”
Getting the right balance between resourcing constraints and expansion means that specialist services sometimes need to be brought in from outside of the business.
Software outsourcing, known as Software as a Service (SaaS), offers SMEs many advantages and allows cutting-edge technology to integrate effortlessly into your organisation where this would otherwise not be achievable in-house.
Prioritise Growth
Taking advantage of these services has become the new normal for astute businesses that prioritise growth and innovation. In fact,
UK business is a major investor in SaaS solutions, coming in second behind the US for global IT spend per business headcount.
A good HR software platform, such as WorkSmarter, can help drive multiple savings in time, effort and cost across many areas of your business compared to employing traditional methods.
- Working with an external provider can help cut costs and reduce financial stress, making your business more profitable. The provider fixes bugs, takes care of system updates, and is responsible for security. Some will also provide ongoing product support and guidance.
- Outsourced software can be scaled up to meet expanding needs and more flexible finances as your business grows. It’s a model that offers freedom, flexibility and choice.
- Sourcing the right HR software, flexible enough to fit your business requirements, may mean some firms won’t need to go through the potentially tricky process of recruiting HR staff as so many of these daily tasks can now be automated.
The average annual pay for a qualified HR professional is £35K. Research shows that the real cost of hiring over the first year of employment goes far beyond the salary when you include additional costs such as recruitment, training, new equipment, national insurance and pension contributions.
- Technology, legislation and compliance are all areas that develop at an accelerated pace. HR tech makes it easier to manage holidays and absences, and to keep up with complex and fast-moving changes in complex areas like employment law. People Management tasks such as Expense Management become quicker and simpler to perform.
- Workflows are optimally designed so that processes can be smoothly and easily navigated. Cross-collaboration between teams and departments improves productivity and engagement.
- An online system is highly suited to remote and hybrid working. Staff can still collaborate using authorised devices despite not being in the same workspace. With WorkSmarter, for example, it becomes much easier to accurately track and record hours worked whether on desktop or mobile.
Lower Costs and Higher Productivity
At WorkSmarter we know what it takes to manage teams effectively. We’re experienced business owners from across industry, so we get it. We set up WorkSmarter with one aim in mind - to help growing companies level the playing field through dynamic and affordable People Management solutions.
As well as core features such as the Holiday Planner, Absence Tracker, and Timesheets & Attendance, we also offer a wide range of valuable services that mean you won’t need to spend out elsewhere. Including:
✔️ Digital signing
✔️ Expense Management
✔️ Employment Law Alerts
✔️ Compliant HR document library
✔️ HR Digital Files
Save Big, Gain More
Numerous savings and benefits can be made by moving your daily HR admin to a trusted automated service. And while individual variables mean there’s no calculation that can provide a definitive cost-saving figure, our expert advisers can give you all the relevant information so you can make the most informed decision.
