Human resources can be a challenging undertaking for many companies, especially growing firms that realize they need to improve in this area – which is why many choose the path of Human Resource Outsourcing (HRO). It’s a challenge for employers to get a good handle on all the legal challenges they can face, such as workers compensation, benefits and vacation time. And these issues are what can hold companies back from fully utilizing their core competencies.
That’s where Human Resource Outsourcing (HRO) can come in. In this case, a third party firm specializing in human resources can spring to action, handling some of the vital personal work that all companies must undertake. And as companies grow in size, those personnel issues grow more complex.
Among the areas in which outsourcing can help:
Outsourcing demand is increasing. Technavio, a research, and marketing firm, reports the global human resource outsourcing market is expected to be $284 billion by 2020, growing 13 percent over the next four years.
In an increasingly complex HR environment, companies must take pains to be compliant with all federal and state laws. For firms without a dedicated HR department, or for firms where the HR director handles many other responsibilities, the compliance challenges could be many. In these cases, outsourcing might be the answer. It’s also possible that HR consulting could be just the tonic, too. Either solution – or both solutions – could prove a time and money-saver over the long term if implemented correctly even with the requirement of an outlay of resources from the company throughout the life of the HR agreement.
For more information on the many strategic human resources solutions, The Plexus Groupe can offer your company, contact us at 312-606-4800 (Chicago), or visit us on the web at plexusgroupe.com.