HR at your company covers a lot of ground – basically, it’s everything related to each aspect of personnel and talent management. In order to get it all done, you have to prioritize. That boils down to handling the most strategic and business-critical functions yourself and effectively delegating the rest.
Outsourcing of HR duties has increased significantly over the past decade, as it allows businesses to offload non-core work and save money at the same time. Here are some tasks you might consider outsourcing in order to lighten your load:
- Policy and procedure development
- Tax administration
- Regulatory compliance
- Recruitment support
- Talent management assistance
- Risk management, and/or
- Consultation on various employment-related issues.
Eliminate wasted time.
Time is money. And if you spend too much time on routine tasks, you could wind up losing focus on what really matters: keeping your business strong and your employer brand attractive. This is costly, not only in terms of your bottom-line balance sheet but when it comes to the future of your business.
The PEO Option
Outsourcing helps you keep your HR expenses under control. There are a number of reasons why foremost among them being the group buying power you access when you partner with a professional employer organization (PEO). For instance, when it comes to providing group health insurance, your PEO offers attractive options typically available only to much larger employers. This benefit helps you stay competitive in today’s candidate-driven job market.
Is outsourcing right for you?
If you’re still on the fence about whether or not to outsource, follow these steps to help you decide:
- Let go of the notion that you can be all things to all people. Define HR’s strategic role in your company. Then, focus on how it drives your mission. Decide which functions are unique and critical to your business and which ones you could delegate.
- Envision a team of internal and external specialists. Whatever areas of expertise you’re currently lacking are the obvious choices for outsourcing. In addition, consider areas such as compliance, which demand constant attention in order to stay up to date. Would outsourcing provide added insurance against financial penalties, lawsuits and negative publicity resulting from unintentional shortfalls?
About Lyons HR
There’s no hard and fast rule for exactly what to outsource. Your decision depends on your company, its strategic priorities, and the role HR plays in achieving them. If you need further assistance as you consider outsourcing as a means to enhanced business efficiency and success, or wish to learn more about PEO options, contact Lyons HR today.