There comes a time in the life of any business, regardless of size, when a decision must be made: to outsource or not to outsource. This can be one of the most challenging situations a company, especially a young company, is likely to face. Human resources will be, most assuredly, one area where outsourcing will make sense. To outsource your HR services can be a major advantage to a young and growing company.
- The first factor you need to evaluate when considering outsourcing HR services will be your cost savings. When you consider all of the major functions and areas HR services can entail, you will find that the average business can save anywhere from 30%-60% overall according to recent research. Such company functions as payroll, risk management, and benefits management will present costs you may not be able to deal with. Securing the HR services of a professional company will bring you not only a cost savings, but a competency and professionalism that you can take advantage of immediately.
- A major benefit that should not be overlooked or dismissed is the peace of mind you will gain from outsourcing your HR services. By allowing your HR firm to do what they are experienced at will allow you to concentrate more on your core activities and will free you up to continue to grow your company.
- Compliance and risk issues, as well as benefits issues are areas that can get extremely complicated. The average business owner or CEO simply can’t stay on top of all of the industry changes and updated laws pertaining to those areas. In addition, your HR services firm can help you recruit and manage the best talent you can find in an effort to build a solid core for your company’s future.
- As your company grows, so too will your responsibility and challenges. How do I find capable talent? How are new tax code changes going to affect my business? How do I navigate the health care maze? What kind of benefits can I offer to keep me competitive? These are all extremely challenging areas and having an experienced HR services firm on your side will only increase your efficiency and ability to compete.
Outsourcing your HR services is one of the best things you can do for the future of your company. Whether it is recruiting new talent, staying abreast of compliance and tax issues, or having a reliable risk management advisor, outsourcing your HR services can give you the room you need to run and to grow.