|Nov 14 2017||
HR Outsourcing Saves Business Owners Time & Money
By: Rob Lynn
Over the past decade the Human Resource outsourcing industry has grown to an estimated $175 billion annually, as nearly 85 percent of businesses have outsourced at least one or more of their HR functions.
Smaller businesses have accelerated their utilization of Human Resource Outsourcing as they become more aware of the cost & time saving advantages. The human resource function is an essential part of any business, but when small business owners don’t have the time or necessary resources to tackle the basics of HR, then their entire business may suffer.
HR outsourcing services allow for businesses to outsource a range of tasks from more cost effective employee benefit options, benefit administration/compliance, hiring/termination assistance, and payroll & tax management administration. These HR solutions are ideal for companies of all sizes who don’t have the resources required to expand an in-house HR staff, or the current staff is buried in work and need options for decreasing these type HR responsibilities.
According to Society of Human Resource Management the six top reasons businesses have increasingly moved to the HR outsourcing model:
1. Save Money
2. Focus on Strategy
3. Improve Compliance
4. Improve Accuracy
5. Gain Access to HR expertise
6. Take Advantage of Technology
HR outsourcing can enable smaller companies to grow without having to hire additional personnel and by assisting with compliance issues, can minimize the threat of financial consequences due to failure to comply with state and federal regulatory compliance.
Since 1988, Total Team Solutions has been providing our clients with these critical services so they can concentrate on their growth and less time on the administrative burdens of the employer-employee relationship. For additional information please visit www.ttspro.com or contact us at firstname.lastname@example.org
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