HR Outsourcing Makes Great Sense!
Published10/21/2015 by Edirex
Your SME business still has the same compliance regulations of a much larger firm. And yet, trying to keep up with the legalities and avoid penalties (not to mention breaking the law) has become much more of a challenge these days. HR Outsourcing has evolved to fill the gap between just writing paychecks, and fully protecting your business in every aspect of employment (literally from hiring to firing).
If you figure out the cost of having one person handle everything in-house, of course adding in their employee benefits and taxes, it’s going to go well over the fees you would incur for outsourcing these vital tasks.
It may seem strange to send your staff’s payroll information and private data out of the office, but - in fact - it might very well be safer on a professional provider’s server than in your own location. Security is big business, as is hacking. The companies which handle HR tasks are experts at everything from regulations and all the latest tax changes, and even more importantly - they are required to stay on top of all the inherent privacy risks.
Can you really afford to take a chance on your staff’s personal information falling into the wrong hands (internally or externally)? Probably not. As we’ve seen in the news, a security breach can ring the death knoll for even larger firms. Internet hacking and confidentiality is a hot topic for a reason, and there’s years of experience yet to be gained by an industry just trying to keep up with putting out the daily fires.
The following are a few types of HR outsourcing currently available for your business:
- Payroll services
- Benefits administration
- Regulatory compliance
- HR management
- HR technology
- Risk management
- Total outsourcing (all of the above)
Ask a provider to explain their support processes, their guarantees, and their pricing bottom line. Compare apples to apples and be aware that a front end discount could involve higher monthlies, so ask for a total layout of the end costs.