1. Outsourcing HR saves businesses money.
Hiring a salaried HR professional can cost a business a lot of money. For small and medium-sized businesses, it can be challenging to afford enough employees to field a good HR department. By outsourcing, businesses get all the benefits of an in-house HR department without the cost of bringing on more employees.
2. Save time by outsourcing.
It’s finally time to get back to business as usual, but routine HR tasks can take up time that business managers could otherwise spend serving the company’s core mission. By outsourcing HR, businesses can keep their employee’s attention on growing the business back to pre-pandemic levels.
3. Save money on benefits.
Health benefits are more important to employees now than ever before. Using a PEO or an HRO pools businesses together to give them more negotiating power with insurance companies. Outsourcing HR can get your employees better benefits for a lower price and help attract and hold onto top talent.
4. Stay in compliance.
Small business loans and other pandemic legislation have resulted in a complex web of regulations. Failing to keep up with these new laws can create filing errors and result in expensive penalties from the IRS. By outsourcing these tasks to a professional, businesses can reduce their liability and avoid costly mistakes.
5. Build up your team.
Following the pandemic, many businesses are starting to hire again. HR outsourcing firms stay on top of recruiting trends and know the best way to attract great employees to your company. A PEO can also help businesses create a training program for new hires and plan incentives to keep employees engaged.
6. Help your business grow.
HR outsourcing firms give your business access to all kinds of tools to help grow your business. A PEO or HRO can help your company measure growth, encourage employee success, and stay in compliance.
Ready to Outsource Your HR Needs?
LBMC Employment Partners can help you get your business back to full strength. From payroll to PEO services, we’re equipped with a comprehensive suite of HR services to grow and scale with your company along the way!