As your small business grows, so do your HR needs. When a job calls for specialized skills and knowledge, it’s wise to outsource your needs to the experts. Just as you would hire a business lawyer or architect, HR professionals and companies can help your business run more efficiently through their own expertise and experience. Here are four key areas where it makes sense to hire a company to help and why opting for outsourced HR services may be your best option.
WHAT OUTSOURCING DOES
The types of outsourced HR services typically include client and employee management, policy compliance, and even payroll administration or bookkeeping, depending on a company’s needs. As your business grows, which is what we all want, these tasks can become more tedious to manage in-house. An outsourced HR services company will keep things running smoothly so you can focus on running your company.
A common misconception about HR outsourcing is that it amounts to eliminating jobs for in-house staff. On the contrary, outsourced HR services free up employees to focus on the aspects of their jobs they are trained to perform, providing assurance that more administrative tasks will be handled in a timely and effective manner. Industry research shows that businesses that employ outsourced HR services grow 7-9% faster than those that don’t, even when some businesses maintain some human resources staff in-house.
Payroll Vault specializes in HR outsourcing solutions that are designed to efficiently manage day-to-day business operations and ensure accurate and timely task completion while helping you maintain peace of mind that your business is in good hands.
WHERE OUTSOURCING HELPS THE MOST
Some of the top ways outsourced HR services help companies thrive include:
Focus on business growth, not administration tasks. If you or any of your employees are not HR experts trained in the minutiae of performing essential HR and payroll tasks, they can bog you down or get handled improperly. Using outsourced HR services from a company like Payroll Vault will save you valuable time and free you up to focus on business strategizing.
Manage and care for employees. Remember that the “H” in “HR” stands for “human,” every company’s most valuable asset and resource. Professional HR outsourcing ensures that all your employees receive proper and timely pay, benefits, training, and support so that they feel valued and continue working to their highest potential with your company.
Stay compliant with laws and regulations. Local, state, and federal employment regulations and requirements vary from state to state and are subject to change multiple times a year. Most small businesses don’t have the time or manpower to dedicate to the very complicated task of staying on top of all these laws. An outsourced HR services resource will apply their expertise to help your company stay compliant and avoid penalty fines or litigation costs.
Spend money wisely. Outsourced HR services can help companies optimize spending in a variety of ways. As mentioned above, relying on the experts to help you follow the law can help you avoid costly fees. Through their knowledge and expertise, they can also determine the best deals on employee benefits, health coverage, and other company-wide services and systems.
CONSIDER OUTSOURCING WITH PAYROLL VAULT
Founded in 2008, Payroll Vault is focused on providing flexible, customized HR solutions to suit a range of needs for small and mid-sized businesses. Our dedicated professionals work closely with you to fully understand your business needs and support improvement and long-term success.
For over 12 years, Payroll Vault has been a leading resource for accurate, reliable, and personalized assistance with HR, payroll, and beyond.
Find out how Payroll Vault can meet your HR needs and more by requesting a quote.