Introduction
Human resources is an enormous field that includes payroll, taxation, recruitment, and visa applications. As to dealing with this work, many large multinational firms have their own experienced and massive human resources teams. Conversely, plenty of new and small businesses are still struggling to deal with high-cost HR work. Therefore, in this article, we will use three reasons to explain why we recommend new and small businesses outsource HR work.
Cost-effective
Incontestably, outsourcing HR work will be more cost-effective, which is a huge advantage for new and small businesses. They tend to have a weaker financial base to engage in different administrative and human resources work. Nevertheless, recruiting and constructing a HR team may consume much time and money, immensely affecting new and small businesses’ decisions to accomplish business goals. On the contrary, professional HR advisory agencies are capable of utilizing HR tech tools. Besides, they have a larger firm scale as well as a developed expert network. These factors help lower the cost of dealing with numerous HR tasks. As a result, outsourcing HR work is more cost-effective than recruiting a HR team within a company.
More experienced
HR advisory agencies are relatively more experienced in HR work. Some new and small businesses tend to focus more on driving business outcomes and reaching more potential clients to sustain long-term growth and expansion. Therefore, they comparatively have less or even more knowledge and experience in dealing with internal HR work. Conceivably, miscalculation of taxes and salaries, false predictions on HR trends, or limited means to reach talent may be more common for new and small businesses. Outsourcing HR work to a third party can minimize the chance of mishandling employees’ information, thus enhancing efficiency and accuracy.
Enhance compliance
Apart from the above reasons, outsourcing HR work can also enhance compliance. Some new and small business owners may have limited or no knowledge of contract laws and employment laws unless they have acquired legal backgrounds. In comparison, professional HR advisory teams tend to be more experienced in compliance and legal risk control. In other words, unexpected legal issues can be more easily prevented.
How can FastLane HR help new and small businesses outsource HR work?
You may agree that outsourcing HR work is more efficient for new and small businesses. However, do you still hesitate about whether you should outsource HR work or not? No worries! FastLane HR has more than 1500 clients from 80 fields. In terms of HR work, we are confident that our one-stop HR advisory services make things run smoother and more effectively. Feel free to contact us via WhatsApp, WeChat, or phone calls if you have any questions. You can also schedule a meeting for further information. We look forward to seeing you in our office!