What are HR Outsourcing Companies in India and How it is Useful for Business?

To reduce cost and focus on strategic issues, the small business owners are now taking the services from HR outsourcing service providers. These companies also help to improve their services to the employees and save time that was used for non-revenue generating works. You must understand what HR outsourcing first, who the service providers are and then how they help small businesses.

In Human Resource outsourcing, the contract for HR functioning is given to an external supplier who is specialized in this sort of functioning. It includes all the activities like management, payroll, benefits, and compensation. If you want to outsource your HR functions then the first thing that would have come across in your mind is that whether the services are good or not, how to avail them, is it good for your company’s scale? Here is the answer to all your queries.

Before initiating any steps towards outsourcing, you must consider the following points:

Scale:

If your company is big enough that you have an in-house HR department and when your administrative processes slow down productivity, then you can opt for outsourcing. When your company is too small that it has less than ten employees, some HR Outsourcing Companies in India may refuse to work with you. Therefore, it is necessary to understand your company’s scale.

Cost:

This factor always makes you think whenever you start something new. You must go to the outsourcing company that comes with a reasonable cost to cope up with the budget of your company. The cost varies depending upon the task estimated from 2% to 11% of wages.

Task Assigned:

You will have to decide how many functions you want to be outsourced. If you can control all the activities, then there is no need of hiring an outsourcing company.

Kind of outsource:

You will have to keep in mind always what you want to outsource. Is it HR consulting, compensation consulting, payroll? Some companies also provide training facilities too. So, you need to think about what facility you want and pay for the same.

Now that you have understood the meaning and needed to hire the outsourcing company, you need to know some of the agencies. You can choose any one of them according to your purpose:

Enterslice:

Enterslice is a CPA and legal technology firm that do registration for entrepreneurs and helps them to manage their business. It's an award-winning firm that delivers great services to newbie entrepreneurs.

Swarit Advisors:

It is a Noida based company. Swarit Advisors helps MNC and startup for any of their compliance issue, Taxation etc. They offer one-click access to individuals for all the professional and legal related services.

Corpfilings:

It’s a portal for different companies that are listed on the BSE and NSE for filling and dissemination.

Author is an expert of a  HR Outsourcing Companies, go here for more interesting information 

Who else wants to know the mystery behind hr outsourcing companies?-Enterslice

What are Hr outsourcing companies?

Typically, an Hr outsourcing companies is a service offered by the contact centers to other companies where every HR related activity is taken care of by the service provider. HR services include filing PF returns, EPF, accounting, payroll, account opening, etc. Carrying out every task in-house is very difficult and creates a lot of distraction from core business operations. One such task is HR (Human Resources) operations. As a result, businesses or companies outsource their HR activities to a third party that offers Hr outsourcing companies. Therefore, in this blog, our prime focus would be to highlight the importance of Hr outsourcing companies. But before that, we must understand its actual meaning. So keep on reading-

Benefits of Hr outsourcing companies

Running HR operations within the organization can cost you a lot of capital; require extra office space, etc. But when you outsource HR activities, then all such problems will vanish. Here you can have a look at the benefits of outsourcing HR services to a third-party:

Cost-effective

It's one of the greatest benefits of outsourcing. Overall costs pertaining to performing HR activities are typically high. A fully-functional HR department demands extra office space, systems, and tools, highly trained HR staffs to carry on the operations accurately. Keeping all this into consideration, a small business or start-up can’t afford so much expense. Hence, outsourcing HR activities seems a wise choice. When you outsource, you get a team of highly experienced professional responsible for taking care of all the HR activities and saves your cost on hiring and training new HR staffs.

Risk management

As a business, it’s quite difficult to remain updates about various things because you already have so much work to focus on. Employment and labor laws keep changing frequently and you have to act accordingly. Outsourcing companies have HR professionals whose objective is to stay current on federal and state employment laws. In return, this will help you comply with these laws and avoid costly lawsuits brought on by employees. Moreover, they maintain an audit company policies to ensure your company and employees’ best interests are protected.

Increases efficiency

Generally, HR outsourcing firms make use of advanced technology which creates greater efficiency within human resources systems. The advanced technology used by the outsourcing firms streamlines the most critical HR functions such as compliance management, payroll, and benefits administration.

Payroll and accounting

As compared to maintaining an in-house payroll staff, the cost of outsourcing payroll is pretty cheap. Outsourcing companies are liable for employee salary slips, advising on tax and deduction questions and also offer a payroll analysis for accounting purposes.

Manage employee development

Employee development and performance could be one of the essential aspects of every business. And, delegating such tasks to the best HR service provider will help you manage both. They implement performance management plans to ascertain employees comply with company policies and procedures and meet your business goals successfully. They monitor employee performance and report findings to management periodically which reduces the workload of the managers by lessening their administrative responsibilities.

Help with compliances

As described, it’s difficult to keep up with the changing laws associated with hiring, insurance, claims management, and benefits regulation. Small businesses are one that really struggles which such problems. Therefore, outsourcing HR services to the trusted firm can help you understand and take action to comply with these rules and regulations. Similarly, there are many other benefits that Hr outsourcing companies can offer you. The author is an expert on the Hr outsourcing companies, go here for more interesting information

Functions of Human Resource Outsourcing (HRO)?

HR outsourcing has become a trend these days, big multinational companies are the on the front row to head for HR outsourcing. And seeing them, the small companies have also tightened their belt and started opting for HR Outsourcing.

Now, what is HR Outsourcing?

 The name somewhere suggests an idea itself, about the meaning of HR Outsourcing. HR Outsourcing is a modern technique in which the human resource activities of an organization are being outsourced so that the company can focus on the organization`s core competencies. Like for small companies, it is often a problem to see every corner of the organization and HR functions are usually a hassle task and time-consuming that it will create difficulty in managing other important thrust areas. With the help of the HR outsourcing, this problem can be solved and also enhance effectiveness by focusing on what the organization with their best effort. It will also be a helping hand in improving the flexibility of the organization to the rapidly changing business needs. Usually, businesses that outsource HR are typically small to midsize firms with a number of employees ranging from 25 to 1500. If companies go for partially HR outsourcing, then the company only shares responsibilities with the vendor by sharing a limited amount of information and thus have proper control over the functions. But on the other hand, if the company decides to completely go for HR outsourcing, the vendor has a complete knowledge and takes on all HR responsibilities. for Further Details Click here!.

The following are the functions of the HR outsourcing whether you go for partially or completely -  

• ·         Background Screening
• ·         Payroll Services
• ·         Risk Management
• ·         Temporary Staffing
• ·         Employee Assistance/Counseling
• ·         Health Care Benefits
• ·         Retirement Planning
• ·         Performance Management
• ·         Drug Screening