When do you need an HR package?

When do you need an HR package?

When you start your business you’ll be able to cope with the demand for work. However as you increase your turnover you’ll find that you may not have the skills or enough time in the day to do everything yourself.

Most Ltd Companies start small by taking on an external Accountant to advise them on their tax, VAT, income and expenditure.

Then you’ll want to free up your time by taking on an Assistant, trying out a self employed Virtual Assistant can prove very useful to give you more time for the routine day-to-day tasks such as diary management, invoicing, reconciling accounts, typing up notes and social media posts. The benefit of a virtual assistant is that you only pay them for the hours they work. Being self employed you won’t have to pay them for their holidays, sickness nor other employee benefits, like a pension.
If you find that you are outsourcing more and more of your functions, then you may want to take on an employee.

You will need to bear in mind you must:

• Get Employer’s liability insurance
• Register with HMRC to run a payroll
• Source a reputable pension provider
• Be prepared to pay a salary each month as well as holidays and sickness

Employees have a legal right to have Contract of Employment on day 1 of their employment. This is formerly known as a written statement of particulars.

Remember as an Employer always make reference to the minimum standards, which are known as the ACAS Codes of Practices

It is best practice to ask an HR Consultancy to prepare your Contract of Employment template as they will be aware of the latest employment law and they can bespoke the Contract to meet your exact business needs.

There are multiple employment contracts available, but it is imperative that you get the right advice from the start. A Contract of Employment in England and Wales can cost you anywhere between £100-£500 on average.

It is your choice how many hours and what tasks you want your employee to do. We recommend you offer just a few hours per week to begin with and then build up to full time hours as you grow.

The possibilities of working pattern types are endless now, there is:

• Remote working (completely home based)
• Hybrid working (Mixture of office and home working)
• Term time (aligning hours of work with the school academic year)
• Part time
• Shift working

So start small and outsource your services (as much as possible) before it becomes too expensive to have a team of outsourced/self employed people and then consider taking on an employee.

We can help you decide when it’s right to take on an employee, contact the Foreshore HR team on 023 9298 2685 or email sam@foreshorehr.com