The field of Human Resources continues to quickly evolve. Once thought of as a back-office function, HR today serves as an integral cornerstone of business operations.
Needless to say, HR professionals have felt the shift. From staying on top of new and emerging regulations, navigating today’s Talent War and The Great Resignation, building out compensation and benefits packages that attract and retain employees, handling new and more complex employee relations issues and much, much more, HR professionals are busier now than ever before.
Outsourcing some, or all, of a company’s HR operations can provide welcomed relief to an existing HR team or can help alleviate the burden of upper-level managers who are overwhelmed trying to manage the company’s HR function in addition to other day-to-day responsibilities.
Below, XpanseHR’s Michele Underhill explores the top four benefits that an Outsourced HR Partnership can provide businesses:
Increased Compliance
Regulatory compliance today is ever-changing and is keeping HR professionals, even well-trained ones, on their feet. When you outsource your HR operations, you can ensure your business is up to date with federal, state and local laws, and is remaining ahead of regulatory compliance areas that often bring costly claims and expenses. By partnering with a trusted HR provider, you gain well-rounded expertise in all areas of HR compliance, while uncovering deficiencies. Additionally, an Outsourced HR Partner can help further develop your internal staff, providing guidance and expertise on labor laws, and serving as a trusted advisor to Leadership and Senior Management Staff.
Improved Employee Experience
Employee experience today is paramount. With the current labor market as tight as it is, HR professionals are busy creating a positive overall employee experience, including hiring, onboarding, training and more, that will not only attract talent but also prevent existing employees from seeking opportunities elsewhere. An Outsourced Partnership can help build out a solid HR infrastructure with processes and efficiencies that enhance the employee experience and focus efforts on finding the right talent for your business. A seasoned HR Partner can provide insight into best practices that promote a positive and respectful workplace and offer advisory guidance to internal staff handling the day-to-day employee relations.
Better Benefits
Employee benefits play a key role in a business’ overall employee package and can be the difference between keeping and losing top talent. What’s more, building out and maintaining a successful employee benefits program is not only time consuming, but can be daunting as well. By outsourcing your Benefits Planning and Administration, an HR partner can step in and assist your existing staff with Employee Health Benefit planning and offerings that meet your workforce’s needs and can help build out overall benefits programs that enhance engagement by offering growth, flexibility and equity.
Reduced Costs
At the end of the day, HR can be costly, both at face value and in hidden costs. An Outsourced HR Partner can help uncover and address costly FLSA and ERISA violations, automate your processes and technology efficiencies, and free up your leadership and management teams so they can refocus their energies on revenue generating tasks. HR Outsourcing can also help lower unemployment and benefit costs, and provide whole-team HR support at a lower cost than internal hires.
Ultimately, the choice whether to outsource some or all of a company’s HR operations is a unique decision that should be considered both in terms of cost and benefits the relationship can provide.
XpanseHR works closely with many organizations to provide outsourced HR support that helps increase compliance, enhance the employee experience and benefits, and reduce overall costs.
To learn more about how an HR Outsourcing Partnership can benefit your business, contact us at info@xpansehr.com or 610-614-5500.
