As a small business owner, you want to spend your time nurturing your employees and growing your business, not worrying about compliance issues and the resulting penalties. When you make it a point to track and document some of the essential HR paperwork, you can stay audit-ready and keep your employees informed.
If you are wondering where to start, here are six HR documents every small business should track:
Recruitment and onboarding paperwork: To make sure your recruitment strategy is in line with labor laws and results in a good candidate experience, it’s important to have proper job descriptions, job application forms, offer letters, I-9 forms, and W-4 forms.
Employee handbook: This document helps employees work in a way that is consistent with your organizational policies. It often clarifies your workplace’s mission, values, policies, code of conduct, customer handling techniques, compensation, and benefits.
Payroll paperwork: Payroll laws differ from region to region, so be sure to document offer letters, employee leave and attendance data, personal information, employment status, and payment details in accordance with local regulations.
Training documents: Compliance training documents have to be kept safe for audit purposes. Maintaining other documents like budget and training handbooks can make training programs more effective.
Performance documents: Properly logging appraisal forms, self-review forms, and appraisal letters makes performance reviews stress-free for both your managers and employees.
Exit documents: To ensure a smooth offboarding experience for your employees, it’s necessary to keep track of signed employee resignation letters, termination letters, reference letters, exit interview questionnaires, and exit interview responses.
Read more about the HR documents every small business requires and the significance of each document in our HR Knowledge Hive.