Human Resources (HR) connect all departments and provides a safety net for employees and employers. Its responsibilities mainly involve aspects of employee management including employee recruitment, training, paying, managing their benefits and complaints, and many more. In general, HR management is a multifold and complex operation.
As your business grows, so do your HR management responsibilities. Streamlining your HR processes helps you save time, keep in line with rules and regulations, improve employee well-being and company culture, and retain talent. All so that you have more time to focus on your business. Recent industry research shows that businesses that use HR outsourcing grow 7-9% faster than those that don’t. Companies of all sizes in various industries outsource HR functions —even those with human resources professionals on staff.
So, what is HR outsourcing, and how can it benefit your business?
What services can be Outsourced and How?
Who you are outsourcing your HR management responsibilities to:
PROFESSIONAL EMPLOYER ORGANIZATIONS (PEOs/EORs)
When a company outsources its HR functions to a PEO, they form a co-employment relationship. The PEO will become the Employer of Record, making them responsible for managing employer responsibilities such as payroll, benefits, and compensation, while also being the on-site employer. It can function as a local partner for companies wishing to outsource their HR services or expand into a new region or country without having to establish a separate legal identity.
Here are some of the HR functions that outsourcing can take care of to make your life easier:
Payroll involves paying proper wages to all employees, declaring taxes, keeping you up-to-date with regulations, and more. In particular, when you are expanding overseas, local legal and regulatory processes can be a real headache. The potential fees and fines for falling foul of these laws could seriously damage your company’s ability to function. By outsourcing your payroll to a service provider, you can benefit from the expertise and knowledge of a company that understands the ins and outs of a foreign market while also streamlining your company’s operating structure at a critical point in its growth.
STAFFING & RECRUITMENT
HR recruits new employees for key positions. This responsibility includes advertising the position, collecting and reading through resumes, scheduling interviews, and, finally, hiring new employees. Outsourcing your company’s recruiting efforts can help you recruit a team of experienced talent that will help your organization thrive for years to come. A service provider can manage one or all aspects of your hiring process, from sourcing candidates to vetting, interviewing, and hiring.
Advantages of Outsourcing HR
Outsourcing some or all your HR tasks will free up time and money for you to focus on your company’s core business. With a tailored and individualized plan for your business, a PEO organization offers benefits that are difficult to achieve internally and utilizes local networks and expertise to the fullest.
As you weigh your HR and administrative support options, consider the following benefits of working with a PEO:
Reduced Time and Cost
INS Global can tailor the right service package for your requirements and reduce unnecessary delays and expenditures. One point of contact and market optimization ensure that you find the very best candidates in the shortest possible time, which allows your new employees to get started right away.
Assured Legal Compliance
A PEO’s knowledge of local legal and administrative procedures ensures compliance with every aspect of local law in the simplest and safest way. Seemingly simple issues in HR can lead to the risk of fines and legal complications when entering a new market. A PEO provides the local expertise necessary to ensure you avoid costly errors.
Focus on Company Growth
By providing payroll outsourcing, recruitment, headhunting, and contractor management services, a PEO takes care of the HR processes required for your entry into a new market. A PEO covers every aspect of HR services and streamlines these into one point of contact, allowing you to focus on successful development.
Attract and Retain Qualified Employees
A PEO service provider can help your company take a more individualized approach to recruitment from sourcing candidates, to vetting, interviewing, and hiring.
A precision approach to recruitment will be guided every step of the way by our experienced recruitment specialists. Also, outsourcing your HR to INS Global can help you make the most of local expertise to find the very best talent from 80+ countries worldwide.
How INS Global can help you
Organizing payroll for your global structure can be a complex process fraught with complications and delays.
INS Global can be your all-in-one point of contact that meets your needs for payroll outsourcing, PEO, invoicing, and tax administration services, allowing you to focus on your business’s expansion into China.
INS Global also offers local expertise in 80+ countries to help you streamline your talent acquisition strategy.
Deal with one point of contact every step of the way, from consultation to further services, such as PEO/EOR and payroll outsourcing.