While every industry faces unique challenges, healthcare companies are frequently required to navigate a wide range of complexities such as staffing shortages, employee retention, compliance, and payroll costs. Fortunately turning to HR support services can be an effective way to improve HR efficiency, flexibility, and control costs. As a result, healthcare company HR departments will be able to shift some of their focus from redundant, repetitive tasks to strategic initiatives that will drive the company forward.Â
According to Deloitte, 72% of companies that outsource HR functions are able to focus more on core issues, while 57% see HR support services as an effective method of cost control. Recent data from McKinsey also shows that 57% of global organizations choose to outsource HR functions.Â
Unlike internal HR staff, outsourcing provides greater flexibility to scale up or down with headcount and demand for HR services. As a company grows, so does the amount of reporting and compliance needed. If companies are managing HR internally, this often means that they will need to hire more specialists for payroll, benefits, or other responsibilities to keep up or risk spreading existing staff too thin. The opposite is also true. If the organization’s headcount decreases, reducing the number of HR employees may also be required. By outsourcing this responsibility, good HR support services should be able to easily scale services up or down depending on what the client needs without disrupting the level of service being provided to the client.Â
Turning to comprehensive HR support services is also a great strategy for companies with 75 to 6,000 employees to control related costs. For example, payroll and labor costs are significant expenses for healthcare companies, on average, accounting for 11% of the total expenses across healthcare systems. Companies that choose to outsource payroll and other HR functions can save as much as $450 per employee and up to 70% on employee costs.Â
Outsourcing also solves another challenge many HR departments face: finding the right HR talent. Leveraging HR support services is an excellent way for companies to access the payroll expertise they need without going through the costly process of recruiting and hiring expensive payroll staff.Â
Beyond employee costs, outsourcing to an experienced HRO ensures that everything is done accurately and compliantly, reducing the risk of potential fines and other penalties for non-compliance that could drive total costs up significantly. For the healthcare industry, this is particularly important considering the violation of regulations like HIPAA can carry fines of up to $1.5 million per year.Â
Companies can also improve the technologies they use in their HR departments when they choose to leverage comprehensive payroll solutions. A good HRO should be equipped with the knowledge to recommend an HRIS that can meet all payroll processing needs. And, by choosing a good technology platform, companies can improve data security and keep sensitive payroll information away from prying eyes. Choosing the right technology can also help companies analyze payroll and other HR data that can inform business decisions, integrate payroll with other tools, and automate some payroll processes.Â
Healthcare companies can also use HR support services as a way to improve the employee experience. When an HRO is managing redundant tasks like payroll and benefits, the employee has higher satisfaction levels when it is being done correctly, compliantly, and on time. At the same time, this creates greater opportunities for HR departments to focus on addressing employee needs, rather than simply focusing on administrative tasks.Â
When companies with 75 to 6,000 employees turn to an experienced HRO for HR support services, they can relieve their HR departments from the burden of redundant and time-consuming payroll responsibilities. As a result, HR staff are free to focus on strategic priorities that will drive the business forward while also ensuring that payroll is being taken care of by a reliable and experienced partner.Â
Companies relying on an HRO like Corban OneSource can rest assured knowing that we have nearly three decades of experience providing HR support services. Outsourcing to Corban OneSource means that you’ll have one point of contact to streamline communication and get timely assistance, but we have multiple backups on standby to ensure we’re always able to provide assistance and support.Â
If you’re ready to learn more about how Corban OneSource can help you efficiently manage your company’s HR functions, contact us today to learn more.Â