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The financial benefits of outsourcing comprehensive HR services

Payroll and benefits are the two biggest expenses a business incurs. You already know that attracting and retaining the best employees means putting compensation at the top of your priority list. But as your business grows, so does back office administration. And the human resources professional you hired to help you create the culture you want is now bogged down with tasks such as developing an employee handbook, establishing policies and procedures and processing page after page of paperwork. Because more time on administration means less time on strategy, the risk of getting stuck in a quagmire grows every day.

By leveraging our extensive experience as human resources managers, our team has the expertise required to manage essential human resources tasks and tackle the most complicated challenges. We work closely with our clients to provide personalized business processes, ensure compliance and streamline efficiencies. HIS will act as your human resource’s right hand, furnishing thoughtful assistance and advice that scales as your business does. When your business partners with our human resources outsourcing service, we can reduce inefficiencies, eliminate redundancies and let your coworkers focus on the jobs they were hired for.

The benefits of outsourcing payroll

Payroll is the biggest expense incurred by employers, and it’s also one of the most important, time-consuming and least strategic functions. That’s undoubtedly why one of the more popular services we offer our clients is payroll outsourcing. As any executive leader knows, ensuring an accurate, timely payroll is absolutely vital to a company’s success. However, overseeing this one project can also be extremely time-consuming and can monopolize an HR professional’s time. By removing this burden from the department, human resources professionals can focus on other equally important and more strategic services.

HIS will ensure your payroll is calculated correctly and on time. In addition to managing payroll taxes, we can also ensure employee payments, contributions and wage garnishments are handled appropriately. When payroll is complete we will reconcile each report to guarantee accuracy. And because having access to payroll reporting is essential, you’ll get smartphone-enabled access when you want it.

Benefits of outsourcing HR

Dedicated Human Capital Management firms can help your company with each of these areas. They may also be able to assist with retirement planning, executive development and coaching, compensation plan administration, risk management, and training programs. By shifting the focus from administrative tasks to strategic efforts for the company's mission, your HR team could make broader, more lasting contributions.

Keeping up with laws and regulations (38 percent);
- Tracking employees' time (38 percent);
- Complying with laws and regulations (35 percent);
- Offering competitive benefits (33 percent); and
- Retaining talent (31 percent).

INDUSTRY TRENDS

The new HR – the HR function is responding with a shift from managing the monetary levers of human resources – compensation, benefits, and other expense – to increasing the asset value of human capital, as measured by intangibles such as employee engagement.

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