In the past, most HR departments provided one-stop shopping for employees with questions or concerns about benefits, hiring, training, complaints, colleagues, etc. For management, HR was the place to go for recruitment, retention and terminations. Human resources is a critical function and most companies handle it in-house. With payroll & employment service in Memphis, that is all changing very rapidly. Today, an estimated fifty percent of large companies outsource all or part of their HR needs. Here are the top 5 reasons so many companies are turning HR over to outsourced experts:
- It frees them to concentrate on core competencies. HR does not produce a product, yet it can take up a lot of time and energy. A great HR department demands resources and continuous oversight. Many organizations would rather focus on their strengths and moneymakers by outsourcing HR.
- It saves money. Running an effective HR department costs a lot of money. Many organizations do the math and just decide it is not worth it. It allows businesses to hire specialists they could never afford to bring on staff permanently.
- It improves compliance. There are a whole lot of regulations out there these days. There is the constant threat of lawsuits for sexual harassment, wrongful termination, safety violations, etc. When you hire a compliance specialist, these nightmares become theirs.
- It improves recruitment. Recruiting top talent is an art and a lot of HR departments are responsible for it. Companies would rather turn this function over to a service that does nothing but recruit talent.
- It provides access to the latest tools and technology. The most innovative HR services will be up on the very latest technology, including big-data mining, analytics, cloud technology and social media.
At Payroll Vault, our HR options offer you a variety of useful services. Call us today and find out how we can help you!