Why Outsource Human Resources?
Whether you work in finance or human resources, chances are your role is a blend of administrative and strategic responsibilities. Strategy usually outweighs administration when prioritizing work, but failing to complete essential administrative tasks in a timely fashion results in expensive, real-world consequences. Fines and even sanctions harm the bottom line and, sometimes, a business’s reputation.
When completing administrative tasks becomes more time-consuming and important than charting the organization’s future, the company suffers. If this is a challenge your business is facing, then it’s time to consider outsourcing human resources.
Attracting and retaining the best employees means putting compensation at the top of your priority list. But now the human resources professional you hired to help create the culture you want is bogged down with tasks such as developing an employee handbook, establishing policies and procedures, and processing page after page of paperwork.
Because more time on administration means less time on strategy, the risk of getting stuck in the endless piles of paperwork grows every day. HR Outsourcing can be less expensive than one full time employee – easily worth the expense to have your resources freed up.
Benefits Administration is another aspect of HR Outsourcing that can save your company thousands each year. Employee benefits are a requirement to attract and retain high quality employees. They’re also expensive — traditionally, benefits are the second-highest expense for employers, second only to payroll. The busier your employees are, the less time they have to reconcile invoices, manage compliance and enrollment and address employee-specific issues related to ERISA and HIPAA.
If you want to provide your team with the benefits that will keep them happy, but you’re concerned about wasting time and money managing a complex plan, a custom benefits administration solution can help your business operate more efficiently while avoiding risk at the same time.
By leveraging an HRO provider, you can manage essential human resources tasks, personalize solutions for your specific business, ensure compliance and streamline efficiencies, which in turn frees up manpower, resources and time for other important areas of business within your company. Click here for more information on HR and Benefits Outsourcing – www.corbanone.com