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If you own a business, regardless of the size, you probably spend a large amount of your time dealing with employee paperwork. This is especially true if you own a small business that has no HR department. In this case, you may be the one person responsible for all employee paperwork. You may spend as much as a fourth of your time dealing with this paperwork, in fact.
One solution that many businesses have started turning to, is human resource outsourcing. Basically, this involves contracting all of your HR-related job duties out to a company that specializes in providing HR support to other businesses. Like any sort of outsourcing, it has its ups and downs, but there are a number of benefits that outsourcing your human resources tasks brings. The first, obviously, is that you no longer have to do the paperwork yourself, nor do you need to hire HR personnel. This saves you a lot of time and money.
There are many different options when it comes to human resource outsourcing. Some HR outsourcing has been going on for many years. The most common tasks that companies outsource including things like payroll processing, attendance and time record keeping, and the filing of and paying of business taxes. However, while these duties used to comprise the majority of the tasks of an HR department, this is no longer true. Today, HR departments have many more duties they must handle, and as these duties grew, so to has the size of the standard HR department. This means, of course, that the cost of human resources has grown over the years as the departments have been given more and more tasks.
Today's HR outsourcing companies are ready to deal with all of these tasks, so businesses are actually capable of outsourcing their entire HR department. This allows the business to focus on other issues, including working on growing the business. It also means they no longer have to deal with any of the time-consuming paperwork or tasks that HR departments must deal with, including various compliance issues.
Outsourcing your human resources department can also help your employees. Because they specialize in human resources, these outsourcing companies often know how to get employees the best HR services around, including health benefits and great retirement plans. They may also be able to provide rewards programs to your company for much less than you might otherwise pay. Also, if you or your employees have need of any kind of HR support in issues like worker's compensation, these companies have years of expertise that is available to you.
One of the nice benefits about human resource outsourcing is that it is not an all or nothing situation. You can easily outsource only your payroll and attendance, for example, while dealing with compliance and taxing yourself. You can also outsource different HR tasks to different companies if you desire. It all depends on what your business needs.
