Highlights
- Discover the benefits of outsourcing HR: focus on your core business, increase your ROI, manage risks, attract top talent, and empower managers.
- A thorough analysis of the HRO company’s portfolio, industry experience, and length of experience is crucial before hiring them.
- Partnering with OneSource saves you money and frees up time better spent on your core business. Contact us now!
For many companies, HR means getting bogged down in paperwork, talent recruiting hurdles, and an increasingly confusing maze of regulatory compliance. Small, medium, and even large companies feel pressured by how demanding these tasks are regarding time and money, in addition to the difficulty of complying with changing laws.
But there is a solution. The outsourcing of HR (HRO) is the strategic solution that allows companies to overcome the difficulty of HR and focus on more strategic tasks and areas to grow their business. In this blog, we will tell you about the world of HRO and explain how HR outsourcing can help you work smarter, achieve more, and unlock your true growth potential.
HRO: What is It, and How Does It Work?
The outsourcing of Human Resources is a strategic business initiative that involves engaging with a trusted and proficient expert to assume some or all your company’s HR responsibilities. In this process, your company has a group of experts who ensure everything works correctly without incurring the high costs of a complete internal team.
In this regard, the outsourcing of HR provides access to professionals and resources tailored to your company’s needs. It streamlines essential business functions such as payroll processing, benefits administration, risk management, employee relations, and talent acquisition.
It’s important to note that this is an expanding industry that, time and time again, has proven to be an excellent solution for employers. The global market for Human Resource Outsourcing, estimated at US$32.8 billion in 2020, is projected to reach a revised size of US$45.8 billion by 2027. Due to this, demand companies must carefully select reputable outsourcing partners and maintain effective communication to seamlessly integrate HR processes.
Outsourcing of HR Advantages
According to the Society for Human Resource Management (SHRM) research, companies that outsource HR functions can save up to 27% on HR-related costs. We have verified that our clients experience savings that can reach up to 50% in expenses associated with HR.
In addition to the economics, outsourcing HR has other advantages. Here are some:
- Focus on what matters most: Save your time and energy for core business objectives and let HRO companies handle HR paperwork and compliance concerns.
- Boost your ROI: Save money on benefits, insurance, and HR technology. This means less time and money spent on paperwork and more resources for your business. The improved benefits and technology will make your employees happier and more engaged. Ultimately, this partnership can help your business grow and thrive.
- Mitigate risks and stay compliant: The outsourcing of HR typically has a team of HR experts who stay up to date with the latest developments in the legal landscape. They work to safeguard your business from HR-related risks, allowing you to focus on growing your business and ensuring customer satisfaction.
- Attract and retain top talent: Attract top talent with our expert recruitment support, seamless onboarding process, and competitive benefits packages. Enhance your employer brand and drive your success.
- Empower your managers: A highly effective HRO streamlines team management and cultivates positive work environments. They provide essential resources to foster performance excellence and build strong team relationships.
HR outsourcing is a wise investment that saves you time and resources, allowing you to focus on building a successful business.
Get a 20-50% Cost Reduction Instantly by Partnering with Us
OneSource is an exceptional partner for businesses seeking a Professional Employer Organization (PEO) for HR outsourcing. As an industry knowledge leader in PEO services, we offer a unique blend of expertise, financial stability, and customized solutions.
With a self-insured status for Workers’ Compensation and recognition from the Bureau of Workers’ Compensation (BWC), we provide peace of mind to clients by presenting a proven alternative to traditional coverage and discount programs. Our company boasts a remarkable 98% customer retention rate, a testament to the trust and satisfaction of our clients in our HR outsourcing solutions.
OneSource ensures reduced HR costs, improved services, and autonomy for clients, allowing them to focus on core business activities. The commitment to a single point of contact—an expert who understands the client’s business needs—further enhances our services’ personalized and responsive nature.
With guaranteed improved cash flow, consistently predictable rates, and the ability to add additional services as your business grows, OneSource is an outstanding choice for companies seeking a reliable and supportive PEO partner. Contact us!