2019 has come around and business is booming. Or is it? Do you have time to be on top of your business’ productivity, or are you distracted by other tasks and functions? If you find that you’re caught up trying to manage a plethora of Human Resources tasks within your business instead of focusing on core profit-making functions, then it’s time to rethink your strategy and consider outsourcing your HR functions.
A business’ HR department is responsible for many things. For starters, your Human Resources department should be effectively managing and monitoring the following:
- Employee payroll processing
- Tax filing
- Employee benefit and health administration
- Legal compliance
- Data capturing and maintaining of all employee files and records
- Training and development
This list alone shows one how it can become challenging (and expensive) to try handle all HR functions in-house. The benefits of outsourcing your HR services are somewhat impressive and can/will do great things for your business’ bottom line.
What are the benefits? See them below.
Reduce Risk & Manage it Effectively
Risk plays a major role in a business’ overall operations. With the right human resources outsourcing firm on your side, you can minimise risk and monitor/manage it effectively. Labour laws can change on a whim and so can industry-dictated regulations. This means that your company always has to have its finger to the pulse of all things employment and labour related. Outsourcing firms make sure that they keep up to date with the latest government and industry laws, standards, and regulations. Ensuring that your business is 100% compliant at all times (to avoid nasty legal action and potential losses) is the number 1 priority of your outsourced HR team. Unfortunately, internally employed staff members are very rarely as dedicated and focused. They may even get caught up in other business functions which distracts them from their core function. An outsourced HR team will also ensure that your company policies and practices are regularly maintained and audited so that it is always inline with the latest laws, standards and regulations.
Cut Back on Non-Essential Spending
A comprehensive human resources department will require that you hire permanent, highly skilled staff members and cater to the extra office space required. There are recruitment costs, employment contracts, and training to consider. Outsourcing your HR functions means that none of this is your responsibility. You get to reduce what you spend on HR functions without compromising on the thoroughness of the service.
Transform your Workplace into a Super-Efficient Business
Productivity and efficiency are essential to the core function of a business. In-house staff members get distracted, make mistakes and don’t have access to all the resources required for the ultimate efficiency. When you outsource human resources functions, you have the advantage of access to advanced technology and software that speeds up processing, minimises the risk of human error and helps to streamline business processes. Outsourcing your HR services to a team with access to the right training, skills and software means that you and your staff complement spend less time pushing paper and more time boosting business productivity and profits.
Track Employee Development & Performance with Ease
An outsourced HR team can help to assess and then develop and implement a performance management strategy. This ensures that all workers are abiding by the company policies and stipulated procedures. The result is that business goals are met and employees perform better. Tracking how employees are progressing and performing is as simple as clicking a few buttons and assessing the displayed information. The outsourcing team can even provide regular reports on employee performance which frees up time and simplifies tasks for managers, supervisors, and key decision makers in the business.
Contact EDMA Services
If you are looking to cut back on HR costs and efforts while ensuring that your business is always compliant with the latest labour laws, regulations, and standards, contact us at EDMA Services and learn more about HR outsourcing today.