Just how valuable is your time? What price tag would you put on an hour? And what would you give to add hours to your days?
Perhaps you’ve already outsourced payroll administration and compilation and are considering turning over more of your human resource (HR) management.
What could you gain from consolidating the functions? What is the downside?
One of the benefits of a comprehensive suite of business employment services is that they can allow you to focus on the business of doing your business. Some business owners are short-sighted and think of revenue in terms of dollars they can “touch.” Often they fail to consider costly occurrences such as employee injury and the loss of productivity.
Although your initial reaction may be to only outsource a portion of your HR in an attempt to be frugal, but experts insist such a move devalues your time. Every moment spent on any task not related to your main business is a moment of wasted time.
Confusion can also arise when employers don’t have a clear picture of what services their HR outsourcing company will provide and where their responsibilities lie. Knowing who to call with questions, and who is responsible for components that can often overlap is key. Mistakes in HR administration can be costly; the peace of mind found in the knowledge that an expert administrator is at the helm is often priceless.