Why is HR outsourcing becoming more and more popular?
Increasingly, businesses are taking the bold decision to outsource key functions such as HR. Below are the reasons why:
1. Saving time. Outsourcing your business’s HR function frees up valuable time that can be put into growing your business and focusing on your strategic priorities.
2. Saving money. The bottom line is that by outsourcing HR, you save money on paying salary and benefits to an employee. You also save on lost productivity costs that come with recruitment. By outsourcing your HR you only pay for what you need.
3. Expertise on your side. Outsourcing is a great way of having full-time knowledge and expertise on your team without having to pay for it around the clock. By putting your HR requirements into the hands of a highly skilled and qualified consultant who understands best practice your job becomes a whole lot easier-and effective.
4. Focused delivery. By eliminating the distractions of HR from key staff (often the financial controller or MD) there is more time to focus on business as usual and deliver your product or service more effectively to your customers.
5. Team staff versus individual. When you outsource HR, you’re placing your employment matters in the hands of a team of consultants checking and double checking each other’s work, helping to ensure that you receive the best service possible.
6. Access to current knowledge and thinking. Outsourcing your HR gives you more access to the most up to date knowledge in the industry. Most businesses don’t have the time or the expertise to keep up to date with changing laws and regulations. By outsourcing, you’re essentially purchasing that knowledge by proxy, but it’s even better as you don’t have to actually do any of the work.
7. Scalability options. Finally, outsourcing your HR allows you to expand or cutback as necessary. Whether you’re looking to grow your business or cut down on spending, having a reliable team to support you, will provide reassurance and peace of mind. Outsourcing provides flexibility that in-house HR just can’t provide.