In this episode of 'Get Financial Fit', Debbie Hancock speaks with Kate Gathard from Elysian Services about the transformative role of fractional HR in businesses. They discuss the evolution of HR from a mundane function to a strategic partner that can significantly impact a company's bottom line. Kate emphasises the importance of understanding market rates for employee retention, the necessity of open communication, and the emotional challenges faced during redundancies. The conversation also touches on the cost-effectiveness of fractional HR services, the impact of employee costs on business success, and the importance of maintaining a good reputation. Finally, they explore upcoming changes in employment law and the lessons learned from running a business.

takeaways

• Fractional HR can provide tailored support without the cost of full-time staff.
• Effective HR should focus on people, profit, and process.
• Market rates are crucial for retaining top talent.
• Open communication is key to successful people management.
• Difficult conversations should be handled with empathy and professionalism.
• Redundancy processes can be managed with care to protect employee dignity.
• HR plays a vital role in maintaining a company's reputation.
• Understanding employee costs is essential for business sustainability.
• Social media policies are important for protecting brand reputation.
• Upcoming employment law changes require businesses to stay informed.

Find Kate on LinkedIn

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