Between market instability and bottom lines, it’s easy to overlook the most important aspect of your business: the people. With fractional HR, you can focus on sustainable growth without compromising your legal obligations or the wellbeing of your employees.
But what exactly do we mean by fractional HR, and why is this an option for you?
The benefits of fractional HR
Fractional HR relies on part-time or temporary human resources professionals, such as freelancers or consultants. It offers flexibility based on a business’ needs, rather than hiring a full-time staff member. These needs will vary depending on what stage a business is at, for example:
Growth: A company may have secured several new clients and need to recruit more permanent staff members to handle workload.
Transitioning: During buyouts, mergers, or other shifts in ownership, businesses may seek help to ensure a smooth changeover.
Restructuring: When financial or operational structures need to be more efficient, fractional HR will deal with legal or personnel challenges.
Any period of change calls for an expert, whether you’re a startup or a growing SME. Working with a third party gives you access to a trained professional with no personal agendas or emotional ties to the business.
Of course, that’s not to say we’re not part of the team. At hoomph, we work with you to move through these transitions smoothly, keeping your staff happy and productive. We tailor our support based on the obstacles you face, helping you become more flexible, spend less, and achieve your long-term goals.
So, what types of businesses can benefit from HR support?
Your HR needs will vary depending on your company’s size and sector. We’ve worked with a range of organisations from startups and SMEs in biotech and technology to creative agencies and games studios. So, chances are, a challenge that’s keeping you awake at night won’t look so daunting to us.
Support is tailored to help you save unnecessary costs, and we can duck in and out depending on your growth journey. Here’s a snapshot of how we help:
Fractional HR for startups
Everybody starts somewhere, and when resources are limited, fractional HR for startups is essential. We’ll give you specialised HR expertise that won’t break the bank.
The biggest challenges startups face
Startup owners are already wearing multiple hats. Fractional HR focuses on recruitment and legal issues, so you can focus on penetrating the market. With a little human oomph, you’ll overcome:
Confusing legal compliance from employment law to GDPR
Skills shortages with training and development
Mounting costs with more efficient processes.
Scaleup human resources support
By now, you’ve proven you can grow and you’ve got a viable business model. So what’s next, and how will fractional HR navigate complexities at this stage?
Factors affecting scaleups
Vision and values. While you’re creating whole new departments, third-party HR will instil a workplace culture to make sure everybody is aligned with your goals.
Leadership skills. The more a business grows, the more senior leaders it will need. Fractional HR can support this with leadership training and teambuilding.
Infrastructure. From management hierarchies to physical space, an HR expert helps you decide what works best for your business, for example, hybrid or remote.
HR support for small businesses
With fewer than 250 employees (typically), SMEs face more challenges than most. They may not have the financial backing of an investor, but their staff numbers call for strong HR expertise. So, where can we help?
The top challenges for SMEs
Legal compliance. Processes for health and safety, recruitment, and termination will reduce financial and reputational risks.
Employee engagement. Retention is a key challenge in today’s stretched job market, so a third-party focus on job satisfaction, training, and all round wellbeing is a must.
Budget limitations. Cash flow is often a concern for SMEs. Fractional HR will adapt to your scaling or downsizing plans without costly staff overheads.
Family-run business HR
When it’s a family affair, your heart and soul are in the business. But it’s also ripe for conflict when our loved ones are involved. An impartial fractional HR is essential for keeping the business on track.
Key challenges for family businesses
Workplace conflict. Disagreements are bad for any business, but may be more complex with family involved. A third party will review your processes and propose suggestions for managing and futureproofing against conflict.
Succession planning. Who will take the reins when the head honcho steps down? At hoomph, we’ll look at your long-term strategy and plan for the future.
Collaboration. Time-wasting processes are a thing of the past with a fractional HR. From effective payroll to advice on collaboration software, we’ll help you work more efficiently together.
Human resources for investor-backed firms
Far from the challenges of HR support for small businesses, investor-backed firms are a different breed.
Top challenges investor-backed firms face
Aligning skills with business goals. Investors have high expectations, so every team member is essential. A third-party HR expert will identify the unique skills that foster business growth, getting more value from each hire.
Scaling. Private equity firms are often growing rapidly, making a strong business case for fractional HR to help them attract and retain the best talent.
Sector-specific changes. Factors like market fluctuations or technological advances may call for restructuring. A fractional HR will approach this sensitively, keeping your company vision and staff front of mind.
Why choose fractional HR?
Though the benefits of fractional HR span from startups to private equity firms, many challenges will cross over. Every business needs to be sustainable and profitable, with happy and productive employees at its core.
An outsourced fractional HR expert plays an essential role in this journey, acting as part of the team without the cost implications of a full-time hire. From legal expertise to refined processes, third-party HR is laser focused. So, while your goal is to grow, ours is to get the best from your people.