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Business established

1. Pre-Establishment Planning

Conduct market research

Define business objectives and goals

Develop a business plan

Identify the target audience

2. Legal and Compliance

Choose a business structure (LLC, corporation, etc.)

Register the business name

Obtain necessary licenses and permits

Ensure compliance with local, state, and federal regulations

3. Financial Planning

Set up a business bank account

Create a budget and financial projections

Determine funding sources (loans, investors, etc.)

Establish an accounting system

4. Human Resources Strategy

Define organizational structure and roles

Develop job descriptions and specifications

Create a recruitment plan

Establish an onboarding process

5. Policies and Procedures

Draft employee handbook

Develop HR policies (leave, benefits, conduct, etc.)

Implement performance management processes

Create grievance and disciplinary procedures

6. Benefits and Compensation

Research and define salary ranges

Develop a benefits package (healthcare, retirement, etc.)

Ensure compliance with labor laws regarding compensation

Set up payroll system

7. Training and Development

Identify training needs for employees

Develop training programs and resources

Establish a mentorship program

Create a continuous learning culture

8. Workplace Culture and Environment

Define company values and mission

Create initiatives for diversity and inclusion

Develop employee engagement strategies

Implement health and safety measures

9. Technology and Tools

Select HR software and tools

Set up a communication platform for employees

Implement performance tracking systems

Ensure data privacy and security compliance

10. Monitoring and Evaluation

Establish key performance indicators (KPIs)

Schedule regular evaluations of HR policies and procedures

Gather employee feedback through surveys

Adjust strategies based on performance data

This checklist can help guide the establishment of human resources functions within a new business, ensuring a comprehensive approach to HR management from the ground up.

Here are some additional steps that could be included in the Monitoring and Evaluation section of the New Business established checklist

Implement a performance management system to track employee progress

Conduct regular audits of HR practices to ensure compliance with regulations

Benchmark HR metrics against industry standards to assess competitiveness

Review and analyze turnover rates to identify retention challenges

Monitor employee engagement levels through focus groups or interviews

Evaluate the effectiveness of training programs through post-training assessments

Assess the impact of employee benefits on job satisfaction and retention

Use data analytics to identify trends and areas for improvement in HR processes

Develop an action plan based on evaluation results to address identified issues

Create a timeline for ongoing monitoring and evaluation activities to maintain accountability

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