Achieve and Maintain Compliance
Many companies, especially those operating without an HR provider, are unaware of federal/state regulations and find themselves at constant risk of paying thousands of dollars in fines and even being presented with lawsuits.
An HR provider's job is to ensure that your company and its functions operate solely in ways that are compliant with the latest federal, state, and local laws, reducing risk of various claims against the company. Having a dedicated HR Business Partner will ensure that your business stays up to date with any new legislation, changes to required forms or employment posters, and various "best practices" within the workplace.
Lower Cost
Companies operating with an in-house HR department will typically pay out at least several hundred thousand annually to pay their employees' salaries. Outsourcing to an HR provider costs about half or even less than half of that amount, saving your company thousands of dollars which can be used to invest in other areas of business.
Additionally, outsourcing HR functions means you do not have to pay taxes, benefits, and overhead costs (such as uniforms, equipment, and insurance), as consultants are required to cover these expenses themselves.
More Focus on Business Functions
Perhaps the most important factor in outsourcing HR is the time and effort you'll save!
Managers and those in leadership positions who usually handle administrative tasks and other HR functions, such as recruiting and onboarding, are suddenly presented with available time on their hands to delve into strategic areas of the business (i.e. attracting more clients). Depending on the size of your business and its specific HR needs, you could get hundreds, even thousands of hours back into your year!
Want to learn more about outsourcing your HR functions and how it can benefit your small business? Contact us by clicking the link below to schedule your complimentary consultation today!