Internal HR Employee?
One or more employees dedicated solely to
HR functions and housed within the company. |
Have EPLI?
Employment Practices Liability Insurance.
Covers wrongful termination, sexual
harassment, etc. |
Employee Handbook?
A handbook that explains policies and procedures.
|
Outside HR Consultants
Includes outsourcing to third parties for
HR questions and projects. |
Document Management
Includes the cost and time factors
associated with managing, obtaining and
producing documents |
Prepaid Legal Preparation
Includes the cost of taking precautionary
measures prior to potential litigation and
discovery and the cost associated with
preventing such action |
Outside Legal Consulting
Includes any cost associated with legal
inquiries or questions regarding HR issues
specifically aimed lawyers or HR Professionals |
Annual Cost of EPLI
Most often quoted as an annual premium of
$5000 minimum or $12-$20 per employee,
whichever is greater. |
Handbook Creation
Includes cost of handbook generation and
maintenance as legal issues change.
|
Payroll Process Cost
Includes any cost associated with the processing
of payroll, such as new hire reporting, total
tax service, W2 preparation management reports
and check cutting. |
Employer Productivity
Totally subjective but includes the value of
refocusing the business owner away from HR
functions and more toward running a profitable
business. Value should be less where
dedicated HR professional(s) is internal
within the company structure. |
