Outsourcing HR: Streamlining Pay and Benefits Processes in the Workplace
HR is just as important for small businesses as it is for larger ones. Failing to address HR issues can put an additional stress on your workforce, especially as most small businesses won’t have an official, designated HR department. Outsourcing your HR alleviates this pressure, allowing you to focus on developing your business.
The fact of the matter is, whatever the size of your business, HR plays a vital role in not only ensuring the happiness of your employees but also ensuring that your company or organisation complies with the relevant legislation. One of the most important areas in which HR can provide support, particularly in regards to your legal obligations, is ensuring that pay and benefits are correct and legal.
Pay and Benefits
The role of human resources in all businesses is to make sure that you are getting the most out of your employees. This also includes making sure that your business is following the required employment laws. By outsourcing these HR tasks to a specialist company, you can streamline your payroll and benefits packages, alleviating the pressure on other staff members saddled with these duties.
HR teams help businesses determine what rates and extras are commensurate with, not only the skills being offered by the employee, but what your organisation’s competitors are paying their employees.
As Richard Branson said, “take care of your employees and they’ll take care of your business”. Ensuring that your staff are well taken care of is an essential part of HR, not least because recent studies have suggested that staff who identify as “happy in the workplace” are, on average, 12% more productive — proving that happy employees are good for business!
Securing Payroll Solutions For The Long-Term
Outsourcing HR also enables you to manage long-term payroll issues. A payroll package will handle processes such as how much money goes into your employees’ pensions, how their overtime is compensated and tracked, as well as any other work benefits, such as a company car, travel, or meals.
As an employer, there is a legal minimum annual contribution that you must make towards your employees’ pensions. This is determined by what their wage bracket is. It is especially important to make sure that your HR processes are in order as the minimum amount of money that you, as an employer, will have to put into your employee’s pensions is going to increase significantly in the coming years. It’s due to increase at the end of 2016, and again in 2018.
Outsourcing HR: An Effective and Efficient Option
Being confronted with human resources management issues, changing legislation, employment and dismissal, it’s easy to feel overwhelmed. By outsourcing your daily HR tasks to qualified professionals, you’re alleviating this stress while also ensuring that all of your obligations and regulations are being observed. Additionally, you’ll save your business both time, effort and money. So go ahead, stop handling time-consuming HR tasks in-house, and give yourself more time to focus on growing your business while getting the HR support you need.
Want to outsource your small business HR? We’ve got you covered!