For some companies, the idea of outsourcing their human resource tasks is daunting—the perceived lack of control, the time it takes to “make the switch,” and the cost all loom large in the minds of many CEOs and CFOs. In contrast, when we speak with customers, one thing we hear over and over again is how much they’ve benefited from partnering with our professional employer organization (PEO) to outsource HR small business tasks in ways they didn’t expect. Here are four of the biggest benefits of outsourcing human resources you may not have considered.
Benefits Of HR Outsourcing Solutions
1. You get your time back.
How many hours do you actually spend collecting information necessary for the health of your business but not actually part of your skill set or job description? For many CFOs and managers, that number is way too high—but they know those complex, tedious tasks must get done or the company suffers.
Any of these sound familiar?
- COBRA administration
- Benefit reconciliation
- Collecting information for various tax forms
- Direct deposit
- 401(k) plans
- Employee handbooks
After you’ve collected all this information, you still have to input it into payroll systems, benefits carriers, and other vendor databases.
There’s a better way to accomplish these tasks—partner with an HR firm who will manage and oversee them for you. Outsourcing streamlines the process and requires you to send the information only once, which saves you time in the long run.
2. You have someone to make sure you’re on track with compliance.
If you lie awake at night wondering if you’re making HR errors, you need to find a partner who can help. Outsourcing with Genesis HR shields you from potential trouble so you don’t have to worry about losing your business in case of an audit. We’ll identify issues you didn’t even know to look for, and, once they’re discovered, we’ll help you solve them. So you’re not stuck trying to figure out if you’re doing something wrong—or stuck trying to fix it by yourself.
3. You can better manage your costs.
With Genesis HR as your partner, we’ll help you reduce inefficiencies in your business and strategize benefit contribution options that may help provide more stability to your budget. Then you’ll have proof that your PEO partnership makes good fiscal sense. Outsourcing small human resources tasks almost always leads to improvements in the management of benefits, HR, and payroll offerings.
4. You can find—and keep—amazing employees.
Employee turnover is one of the costliest aspects of running a business. With our PEO, you get the benefit offerings you need to recruit top talent. Once you’ve found the best people, you can keep them by making sure they have the benefits they want and need. To learn more about how to stop the revolving door of employees and keep workers happy and engaged, check out our free guide: The Employee Lifecycle Roadmap.
What’s your next step?
If you’ve never heard of a PEO, you may want to learn more about what they are and how they operate. Our guide is a great starting place. Then, if you have any questions (we bet you will!), you can contact our experts. We’ll talk specifics about your situation and see how we might be able to partner with you to help your company thrive.