As the economy moves toward stability and improvement in our pandemic global world, employers have begun refocusing their efforts on growth and profitability. Many have begun hiring new staff, and others are using the time to restructure and regroup, turning to activities that have been neglected during the previous three years. Developing new products, capitalizing on burgeoning sales opportunities, or investigating new financial and banking relationships are just a few of the actions employers are taking to gain traction in the strengthening economy.
That said, the universal truth remains that the success of almost every company, business, or organization is driven by the employees. From growth and product development, to customer service and quality assurance, it is the people who will ultimately have the greatest impact on the future profitability and stability of every company and business.
A key to business success in today’s environment will be concentrating on improving the human resources systems within the organization. This human resource development includes securing and motivating quality employees, protecting companies against employment lawsuits, and researching and providing human resource (HR) systems that are more efficient and cost effective.
The HR solution for small businesses in our pandemic world is outsourcing. This small business HR solution has been growing in popularity over the past decade, and has repeatedly served as the preferred way for any small business to completely bypass most HR conflicts by outsourcing the complex, time consuming, or unproductive tasks relating to employee administration.
Human resource outsourcing can take on many appearances, from complete end-to-end processes to specific functions. Despite appearances, every HR outsourcing shares the same principle: By entrusting non-core, non-revenue generating tasks to an outside expert or firm, the business can comfortably focus on other critical areas, assured their human resources systems will be managed professionally and efficiently.
An experienced human resource outsourcing firm employs teams of experts in a wide range of disciplines. It functions as the business’s off-site HR department, handling all employment related tasks in a more timely and cost-effective manner. Human Resources Outsourcing services can include any, or all, of the following services: Labor law compliance; Employment administration; Forms and documentation; Management and employee training; Payroll and tax services; Workers’ Compensation Insurance; Safety consulting; Employee benefit packages; Retirement Planning; and Recruiting.
In addition to the valuable services they provide, an HR Outsourcing firm can also offer their clients economies-of-scale, providing more robust employee benefit plans at extremely competitive rates. Human Resource Outsourcing firms provide this by pooling thousands of employees into a group plan, enabling them to negotiate rates and plan options usually available to only their larger competition.
Now, an employer with just 20, 30, or 50 employees can offer their employees a robust benefit offering typically found within a big corporation with hundreds or thousands of employees.
Finally, workers’ compensation insurance is also negotiated on similar terms.
The Human Resource Outsourcing firm can present millions of dollars of workers’ compensation premiums to the carrier, instead of just thousands. This enables the Human Resource Outsourcing firm to pass the group discounts on to their smaller employers, often resulting in significant insurance premium savings.
For human resource guidance, assistance and information for your small business, the experts at Abbot Benefits Group provide the best possible HR support https://www.abbotbenefits.com or 281-374-7577.
Whether your company is looking for added human resources support, or assistance in reducing your employment risks, or simply investigating alternative insurance products, human resource outsourcing should be given serious consideration. More often than not, the savings experienced through Human Resources Outsourcing offset the service fees, making HRO a win-win relationship.
Contact Abbot Benefits Group today at https://www.abbotbenefits.com or 281-374-7577.