As a business owner, here’s what you are risking with poor HR knowledge.

January 23, 2021

As a business owner, your main aim for the organization is to see it grow. However, the absence of human resource management knowledge in your Organization might hinder this in one way or the other.

You need to have the ability to deal with your people problems accordingly. In the past, labor cases would take years to be processed in court but the new reforms in the justice system have hastened the processes. As a business owner, you need to close any doors that might lead to you losing money through paying legal fees. Equip yourself with the knowledge of what should be done, how it should be done and when it should be done.

Human resource implications do not just have to do with the legal systems, also not knowing how to deal with your employees could lead you to having to train new people all the time because you keep firing others, this could be very time consuming. It could lead to the loss or misplacement of important business resources such as documents or even certain business tools.

According to Catherine Wekesa, CEO at the International Talent Management Consulting Limited, small business owners who don’t equip themselves with HR knowledge run the following 5 risks:

  • The risk that rudimentary human resource practices will put them at a competitive disadvantage.
  • The risk of workplace conflicts due to unmet expectations by employees.
  • The risk of not adequately addressing proper workplace litigation.
  • The risk of not fully complying with labor laws.
  • The risk of duplication and paper work that leads to inefficiencies as well as data entry errors.

Catherine Wekesa was a facilitator at Un.thinkable masterclass (our quarterly 10X Growth Leaders Workshop) in November 2020. Click here to apply for membership in Un.thinkable.

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