HR Functions to Outsource
Depending on your business priorities, certain HR functions may be better kept in-house while others can be outsourced. Here are the functions that are best left to expert service providers:
Payroll is a time-intensive and error-prone process that is subject to multiple regulations which are constantly changing. Aside from payroll administration and direct deposits, payroll officers also handle documentation and reporting requirements for taxes, such as W-2 preparation. They also work with benefits specialists to track employee leaves and timekeeping. Outsourcing this function will ensure accuracy, timely payments, compliance, and even reduce fraud.
Letting a qualified service provider handle your hiring needs can lead to a better selection of candidates for your business, as well as significantly lowering costs on recruitment software and processes. Recruitment specialists from outsourcing companies stay abreast with hiring trends across industries, and they will have a full set of services for business owners to choose from; including application and interview processes, background screening, and onboarding.
Fully understanding every aspect of compensation and benefits and then implementing them is a demanding task. By outsourcing the design and implementation of benefits programs to specialists, your employees’ concerns about health coverage, Insurance, and other benefits can be addressed at an expert level. Some providers can now develop high-quality benefits programs for small businesses that once only enterprise-level companies could afford.
Deciding whether you should outsource and which functions to keep can be a difficult process. Business leaders can start by clarifying their business priorities and understanding what successful outsourcing entails during the pandemic. Whether it’s Payroll, Recruitment, or any other HR function, leaving it to the experts can be the best way for small businesses to grow and succeed.
Specially written for premierbpo.com by Jana Noels