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PLATINUM GROUP NEWS & VIEWS

OPTIMIZING YOUR HR: OUTSOURCING CAN HELP

by Julie Miles / April 14, 2021

It does not matter the size of your business, HR tasks such as talent acquisition, onboarding, employee engagement and compliance are imperative – even if you do not have a formal department to carry out these functions. These essentials take time and expertise to complete, so how can small to medium-sized companies ensure that their HR needs are functioning at full-capacity? Outsourcing HR services may be your perfect solution. 

Businesses are increasingly embracing automation, as it helps increase their efficiency and boost productivity. This technological evolution cuts across the board, with HR functions benefiting greatly from automation software. 

While large companies may accommodate the vast budgets that come with running a fully optimized HR department, the case is different for small and medium-sized businesses. In most cases, it may not be the most financially sound decision given the level of expertise required to achieve an optimized HR department.

Whether you require drafting of policy manuals, help with compliance, designing employee benefits packages, or even hiring top talent, our HCM platform, isolved is a single sign-on, cloud-based system that can offer you superior services at an affordable cost. 

Benefits of Outsourcing HR

As the benefits of outsourcing are ever-increasing, it is fast becoming one of the 2021 HR Trends. Even organizations with established HR departments outsource some tasks, like staff hiring and training. According to a survey done by HR DIVE, out of the 400+ HR officials interviewed, more than half said they outsource payroll and employee benefits tasks. While a third seek support for employee recruitment.

So, how does outsourcing help optimize your HR department?

Cost Reduction

Having an in-house HR team has its benefits. However, hiring and retaining quality HR talent can be costly, and in most cases, not feasible for a small or medium business. 

Outsourcing gives you access to the best expertise in every area of your HR function. With isolved People Cloud, you can receive the best services, be it in compliance, staff hiring, benefits package, and policy drafting, etc., at a fraction of what you would spend to retain in-house experts in those areas. This also allows you to save on the cost of acquiring office space and equipment for an in-house team. 

Staff Hiring and Training 

With isolved, you are equipped with tools that help you identify the right talent and match them to their ideal jobs. To a large extent, employee job satisfaction depends on how well their abilities are suited to their role. In return, this leads to high employee engagement and consequently improved productivity.

The Talent Acquisition module ensures you get the best talent, which increases employee engagement. This can be beneficial for your business, as engaged employees contribute to better bottom lines. 

Remain Compliant

Especially in this new world of COVID-19, compliance is a top concern for all companies. As employment and labor laws are ever-changing, isolved’s HR support is always on top of new regulations.  

Employment and labor laws can be complex, and without a qualified HR professional on your team or a consultant to advise you, the risk of non-compliance is always high. Hence, outsourcing this task can prove to be cost-effective in the long run, as it can help you avoid penalties from non-compliance.  

Access to Superior Technology

isolved empowers your organization to do more. This comprehensive human resources platform helps you streamline functions and future-proof the business.

Manage, strengthen and compensate your workforce. Easily and securely store and share employee data with a single-source database. Eliminate your paper HR files and streamline your HR workflows. It turns your HR department into a strategy center that is focused on building culture and improving organizational efficiencies.

Boost Efficiency of HR Functions

Outsourcing aspects of your HR, like payroll, compliance, hiring, or the entire function can improve your efficiency significantly. It streamlines tasks like payroll preparation, and helps boost your employees’ motivation. This, in turn, allows you to focus on other areas that align with your expertise. 

Key Takeaways

  • HR automation helps businesses optimize their operations.
  • HR outsourcing is ideal for any business size, but more so small and medium enterprises that don’t have the capacity to institute fully optimized HR functions. 
  • Outsourcing is one of 2021’s HR trends, with small, medium, and large organizations embracing it.
  • HR outsourcing leads to cost reduction as businesses can cut down on staff hiring, training, and retention costs. 
  • Compliance issues are complex, and lack of expert advice increases the risk of non-compliance. Outsourcing helps businesses remain compliant while cutting down costs from potential penalties for non-compliance.
  • isolved’s Talent Acquisition module helps businesses identify and hire the right talent. This increases employee engagement and overall productivity.
  • HR outsourcing grants your business access to superior automation solutions.
  • Outsourcing helps boost HR processes’ efficiency and frees your time so that you can focus on more strategic activities.

Are you a small or medium-sized business or even a large company looking to inject some expertise into your human capital management? Platinum Group can help. With our HCM solution, isolved, you can conveniently manage all of your HR needs from a centralized, secure platform. isolved helps streamline your HR tasks so that you can achieve more with less. 

Ready to make a move? Check out our HCM solution today. 

Tags: Payroll & Human Resources Platinum Group Hire Stay Compliant HR Top 2021 Trends

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Julie Miles

Julie Miles

Julie’s passion is to act as a liaison between the Platinum team, their wonderful clients, and the community, striving to tell their stories and make connections.