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HR Outsourcing

If you’re familiar with the concept of HR-outsourcing, then you’ve probably heard the hype. Thanks in large part to stiff vendor competition, much has been said about HR-outsourcing’s ability to slash costs, improve services and enhance productivity. The reality, however, is while HR-outsourcing can grant companies the power to reduce expenditures and help their HR professionals shift focus from pensions and payroll to business strategy, these goals can also be elusive.

Making sure HR-outsourcing is worth the investment, however, calls for activities such as following a detailed vendor-selection process, diligently managing vendor relations, taking better control of in-house HR operations and establishing realistic cost-savings expectations.

There’s plenty to be gained from handing over a company’s HR functions to a third-party provider. Perks include unified employee data, assured regulatory compliance, better HR spend management, reduced costs and the long-term avoidance of costly technology upgrades.

There’s more than one reason to trust the handling of your HR functions to a third-party provider. Here are just a handful of the perks provided by HR-outsourcing:

  • Gain immediate access to HR specialists without having to hire extra staff.
  • Gain access to “large-company” benefits packages and powerful employee self-service tools that allow employees to access HR data online any time, from anywhere.
  • Reduce the risks that come with enhanced regulatory compliance by leaving it to the experts.
  • By placing everyday HR functions in the hands of a third-party provider, a company can shift its HR team’s focus from mundane administrative tasks to core competencies.
  • Limit huge capital expenditures on purchases such as software while also reducing administrative costs.
  • With access to the latest data about your company’s processes and any opportunities for improvement, you can improve HR decision-making capabilities.

Today’s HR-outsourcing typically offer a standard set of services and include :

  • Learning
  • Payroll
  • Recruitment
  • Compensation/Rewards
  • Work Force Performance
  • Employee Assistance
  • Employee Development
  • HR Administration
  • Health and Welfare
  • Benefits

If executed properly, HR-outsourcing can save companies plenty of money.

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