Venture Capital – HR Payroll
Venture capital is one of the most common types of investment opportunities out there, and is little more than money given to start ups in order to get off the ground in return for a share of the profits. One aspect of venture capital based companies that isn't quite that exciting or enjoyed is the process of setting up the various aspects of a company that form its backbone. Usually, this means things like HR, HR payroll, and other non-revenue generating functions that are vital for a company to operate but so time consuming that a venture capital start up owner doesn't have the time or energy to focus on them. In these cases, HR payroll and other aspects of the venture capital company may need to be outsourced for quick and reliable results.
If you're using venture capital to start up a business from the ground floor, then outsourcing HR payroll and other human resource functions is often the easiest option available. You'll be able to use a small bit of venture capital to form your company's foundation and it will be dealt with while you focus on the aspects of your venture capital enterprise that are actually going to generate the profits you are looking for. The tasks you can outsource range from HR payroll to employee orientation and beyond. Here's a look at some of the most common outsourced HR tasks that a venture capital company may rely on.
- Recruiting new employees and providing orientation
- Drafting policies and employee handbooks as well as other onboarding forms
- Setting up HR payroll services
- Setting up employee benefits
- Managing HR payroll
- Managing employee benefits
A company funded through venture capital needs to make strong gains early in order to assuage the investors who provided the actual venture capital, and that's why the first year of a company's life is so important. You'll need to build connections, attract clients and customers, and much more. That means that you won't have time to manage HR payroll or deal with other aspects of human resources. And a venture capital funded business that uses outsourcing solutions will often end up saving a good bit of money by avoiding the need to hire full-time employees and invest much of their funds into equipment and IT.
If you've managed to raise the venture capital that you need to start your company, then you need to give it the attention that it deserves. Venture capital revenue accounts make up an astonishing 21 percent of the country's GDP, so they're still viable even in this economy. But you'll need to focus all of your efforts on success. In other words, leave the HR payroll and other HR tasks to the experts and focus on leading your venture capital endeavor into the future.