What is HR Outsourcing?
Outsourcing lets you focus on the vital heart of your business. Instead of using your own time and resources on otherwise “basic,” non-core tasks, someone else takes care of it for you. A non-core task refers to anything that does not directly address the service you provide.
Many businesses outsource tasks such as accounting, legal work, IT support, and more. But did you know that human resources (HR) can be outsourced as well? HR handles people–management, pay, paperwork, and much more:
- Recruiting talent
- Offering employee benefits
- Managing HR Operations
- Motivating and engaging employees
- Training and developing employees
- Keeping up with employee group health benefits and understanding the plan structures
If you have an HR team, don’t worry–outsourcing won’t put your employees out of a job. Your team will work onsite to handle tasks hands-on. You’re supporting your existing team with specialized expertise and administrative capacity to execute. That way, you can work on improving your team and product rather than working on your own.
While there are many benefits to HR outsourcing, three stand out. You may think otherwise, but outsourcing will actually save you a lot of money. Combining and streamlining are important, otherwise costly employee expenses like healthcare and benefits, workers’ compensation, and more. Hawaii businesses are missing out on a lot of the buying power that bigger corporations have.
An HR partner will do what companies cannot do and get you more value for your dollar. Proinsurance Hawaii has access to lower-cost HR expenses no matter your company size, including:
- Lost-cost, high-quality medical, dental, and vision coverage
- Flexible Spending Account (FSA) plans
- Life insurance and personal accident insurance
- Disability insurance and more
Benefit number two is compliance support. As a business, you have a lot of rules to follow. And unfortunately, keeping track of each one is extremely important. Rather than finding and adapting to each one, outsourcing produces effective changes and paperwork to keep your business up to par.
Compliance is especially critical in Hawaii, as it is one of the most regulated states in the U.S. As rules continue to hit, an HR partner keeps your business prepared.
And, of course, the third benefit is relief on your own team. You cannot afford to spend the time and resources needed to keep up with HR demands. Growing businesses especially struggle with growing needs and concerns for more and more employees.