HR Department

 

About our Human Resources Services

Most financial planning practices do not have a dedicated Human Resource (HR) department that is versed in the latest laws and regulations that pertain to employment. Our HR services were designed to solve the majority of HR issues that advisors face within their practices when hiring, employing, managing, and terminating staff. We will ensure that your practice is compliant with the Department of Labor rules as well as the employment laws within your particular state.

We can also assist a practice in key HR tasks such as recruiting, interviewing, hiring, and onboarding new employees; or conducting performance reviews and wage reviews for existing employees. We can even help you with terminations and exit interviews of existing employees to ensure that you are legally compliant, thereby minimizing your risk of any potential issues.

For most advisors, we recommend that you begin with our Comprehensive HR Assessment. This assessment will help you identify the Human Resources areas in which your practice may be deficient. You can then determine which specific services you need. Our specific HR services are listed below.

HR Assessment

Comprehensive Human Resources Assessment

Assess

The Comprehensive Human Resources Assessment is a full 360-review of your Human Resources practices based upon your state laws and federal laws governing employment. You will complete our comprehensive data gathering process about your current HR practices. We will identify any areas in which you are deficient or subjecting yourself to unnecessary risk. We then provide you with a written analysis as well as a phone consultation to review your results, make specific, actionable recommendations, and answer any questions that you may have about HR rules and policies.

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Recruiting

Recruiting Service

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Finding you the right fit for your organization is key to your success. Our HR experts can handle the difficult task of finding, interviewing, and placing the ideal candidate into your practice.

KMG will work with you to identify your needs, get your job posted, screen candidates, conduct background checks and generate offer letters for your selected candidate. We are confident in our ability to find and place the right person. This service comes with a 90-day placement guarantee.

Policy Manual and Employee Handbook

Employment Manual and Handbook

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Many advisors use out-dated employee handbooks and policy manuals, if they have one at all. Using out-dated documents can put you at risk of being in non-compliance with federal and state regulations. KMG will develop an appropriate policy manual and employee handbook for your organization. We will incorporate the ever-changing rules and regulations that govern these documents, and also ensure that you have the necessary documents posted in your place of work.

Orientation and Onboarding

Orientation and Onboarding

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Onboarding new hires at an organization should be a strategic process, everyone remembers their first day at a new job, good and bad. KMG will develop a systematic and comprehensive program that will integrate a new employee with the company and its culture, as well as getting the new employee the tools and information needed to become a productive member of the team. Employees will know what is expected of them and have a plan in place for their first several days of employment.

Policy Manual and Employee Handbook

Employee File Review

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There is so much confusion for advisors about what documents they must have for their employees, how long to retain these documents, how to store them, and also when/how to destroy them. With this service, KMG will do a complete review of your employee files to ensure compliance with federal and state laws. We will set up your files correctly so that documents are stored in the correct manner.

Benefits

Employee Benefits, Compensation and Incentive Structure

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Although it can seem expensive, there are many intrinsic benefits to providing your employees with a comprehensive benefit, compensation and incentive plan. For most, it is the ability to find and keep highly qualified staff that is the key driver. Whether your are hiring an unlicensed administrator, a fully licensed junior advisor, KMG will work with you to ensure that you are providing a competitive total compensation package to each of your team members.

Performance Reviews

Performance Reviews

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Traditional review systems can damage superior-subordinate relationships through a number of factors, including superiors basing their appraisals on recent performance while subordinates base their expectations on the entire year. Unlike these traditional appraisals, KMG will work with you to construct a comprehensive performance appraisal system that incorporates 360-degree feedback. This system is designed to foster an environment of teamwork and trust.

Terminations and Offboarding

Terminations and Offboarding

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KMG will work with you to properly document any actions leading up to an employee’s termination and will generate all necessary paperwork to complete the termination and off-boarding process. You will have the peace of mind in knowing that the process has been handled professionally and in compliance with all applicable laws for your protection.