Implement Basic HR Infrastructure Early
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Investors want to see a scalable, professional operation, and performance management practices.
BEST PRACTICES:
Consider having at least one dedicated HR professional embedded in the company as early as is reasonable.
Use an HRIS (Human Resources Information System) or secure cloud storage to keep records organized and accessible for compliance and due diligence. If the company keeps paper records, or if records are stored electronically in a disorganized manner, the diligence will take longer and will be more costly. Provide basic HR training to founders and managers – even informal training on interviewing, discipline, harassment, and discrimination, leave, and documentation can prevent costly missteps. Audit practices to ensure that the company treats employees fairly and applies consistent standards to avoid any claims of “disparate treatment” for any unlawful reason. Draft and distribute an employee handbook that includes anti- harassment policies, benefits, time-off rules, IP security and protecting confidential information, and general workplace expectations—and hold your workers to these standards.
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