HR Outsource CFO Guide. Get the answers you need to make an informed decision about whether or not your organization should outsource tasks like payroll administration, maintaining employee records, benefits administration, onboarding and offboarding, and more.
When does it make sense to start outsourcing HR?
Your organization is growing, and along with it, your bottom line. You and your employees are proud of your business’s success, but as time passes, you’ve observed that your coworkers are spending more time on paperwork administration and less time on strategy. You know your enterprise needs to stay nimble and responsive to your customers’ needs. But when reporting and paperwork compliance failures can result in expensive fines — and your company’s culture is changing in a way you don’t like — it’s time to consider human resources outsourcing.
The benefits of using an HR outsourcing company are considerable — and not just financially. Jack Welch put it best when he noted that HR outsourcing increases efficiency because it turns back office administrative headaches into someone else’s front-office priority.
In most every organization, employee benefits are the second-largest expense faced by employers, and benefits administration is another large job that can be too big and too complicated for a small staff to manage. By outsourcing, your employees will have access to professionally trained Benefits Specialists who fully understand the various benefits packages that your company offers.
Whenever your employees have questions about their benefits, want to enroll in a new program, make changes to their policy, check rates or have any other benefits questions, they can call a dedicated toll-free number to speak with a specialist who can help. Our benefits administration service also features various reporting capabilities, secure access to electronic records and call monitoring and recording.
A great HR outsourcing vendor also ensures that your invoices and payments are made accurately and appropriately. Because paperwork and administrative demands increase as an organization grows, an experienced hand can assist with profit-preserving tasks such as verifying payments and communicating with carriers and brokers. We can also direct you to our legal team when questions arise with legislation such as ERISA, HIPAA and the ACA.
Outsourcing benefits administration improves operational efficiency.
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