Whatever your business or sector, you need the right expertise in your business to be successful. You need talented marketers who know how best to spend your marketing budget to deliver a return on your investment. You need an HR outsource team to recruit the best people for your business, drive engagement and deal with people management issues. You need a diligent accountant or even a whole accounting department to make sure you are managing your books effectively and making the most of your finances.
These skilled people all come at a price. You are competing with every other business who also want these talented individuals which could mean you find it difficult to find the right people. Alternatively, you may feel that there is a shortage of the right people to fill your requirements. Whether you can find the right people or not. The costs of recruiting a qualified, talented person, or team, are high, and the time required to manage them means taking you eye off other areas of the business, like working on how to grow it further.
Many small business owners are nervous about outsourcing. They worry about yet another cost to the business and the fear that their precious business information is in somebody else’s hands. There are so many advantages to HR outsource however and here are just a few to try to ease any worries that you may have.
1. A better return on investment
The costs of recruiting a qualified person or team are sky high. Before they even get to work you have to think about the costs of advertising your position or hiring an expensive recruitment agency to do the job for you, not to mention the hours you’ll spend pouring over CVs and conducting interviews. Then, once you have found the correct candidate you’ve got countless other costs to look forward to including salaries, benefits, insurance, payroll taxes, paid time off as well as work space, furniture, computers, software. The list is endless!
The financial savings of outsourcing are significant. Outsourcing allows you to balance your requirements to your business needs and ONLY pay for the actual work delivered, nothing else. Plus, it’s tax deductible.
2. Make the most of your time
The time it takes to manage your teams on a weekly basis can be put to much better use. No more weekly update meetings or valuable time lost from your diary spent managing office operations. That’s what your outsourced supplier will do. You can spend the time instead on activities that are vital to your business objectives like working on growth strategies or building relationships.
3. Benefit from a team of experts
Using your investment on outsourcing functions of your business gives you access to a team of experts. They specialise in what they do and have to continually develop their skills to compete, which means you can trust that the service you are going to receive will be top notch. An HR outsource firm for example will be filled with experienced HR consultants or employment lawyers who continually update their skills and qualifications to retain their competitive advantage, expand their services and remain compliant. A successful marketing firm on the other hand is only as good as the results they generate for their clients. They will have a wide range of skills in house to help you grow your business through a variety of channels. Plus, they will be accountable for the return on investment they have committed to achieving for you.
4. Scale your service requirements in line with business growth
One of the biggest benefits of outsourcing is scalability. As your business grows you can simply add further functions. You can find the right supplier with the qualified team needed to deliver your requirements. You won’t need to worry about recruiting more staff or having to make redundancies should the business take a down turn. What’s more, they are on hand to help you think about your growth strategy, help you earn more money and drive your business forward.
5. Time and speed
By outsourcing you have the flexibility to choose a provider that best suits your business needs. You could choose a provider who has a different time zone. That way, the work you need doing will be done while your business is closed for the day, you can simply wake up to the work delivered to you the next morning.
Setting clear deadlines and deliverables for suppliers can also help you work faster and provide a better service. If suppliers are contracted to performing a task by a certain time you can be sure that it will get done, meaning your product can get to market quicker or your accounts will be submitted on time, for example.
Contact us today if you’d like to HR outsource to make your life and business run smoothly.