Human Resources Firm

No matter what the size of the company is, often it can be helpful to contract human resources firms to get an objective, third party view of the business in order to fill staff positions effectively and efficiently. HR firm may cost more money on the front end than handling employee hiring internally, but the benefits often outweigh the consulting fees. It may in fact be more cost effective, as the business no longer needs a full-time staff HR director, depending on its size.

Human resources departments are responsible for hiring, firing, benefits, taxes, payroll, and safety issues. By hiring a HR firm, a business can be sure that they are in compliance with all federal and state laws and regulations. Small companies may not have HR staff that are familiar with or experienced enough in the field to provide adequate protection to the company.

One benefit that an HR firm can offer is that they are well versed in labor laws and issues that crop up when hiring new employees. By hiring an HR firm, businesses can avoid potential lawsuits that may arise from company hiring practices. HR firms will make sure that companies are in compliance will all federal and state employment laws. HR firm can conduct hiring interviews, conduct background checks, and if needed, terminate employment.

HR firm also provide businesses with immediate expertise and experience in a particular area, having dealt with several companies before and knowing the hiring practices of the industry. They can also make sure that the workplace environment is safe by conducting risk management assessments and by implementing safety protocols of state and federal laws.

HR firm are also important to have during times when employees are making claims about discrimination. HR firm have the expertise and ability to investigate these claims and document any and all information that is pertinent to the case.

HR departments are also responsible for handling payroll. HR firm can handle employee compensation by writing checks or depositing payments into bank accounts. They also take on the responsibility for managing tax obligations such as income tax and payroll tax withholdings, lessening the burden of an internal HR staff. Finally, HR firm can administer vacation and sick time and create employment policy to protect the employees as well as the company.

Deciding to hire an HR firm is an important decision for many business owners to make. Hiring an HR firm can save money in the long run and prevent against costly litigation and low employee morale.

Human Resource Solution

Human resources solution that allows a company to obtain the services of a third party company to deal with its human resource HR functions. Human resource HR related activities can be outsourced to service providers located in offshore destinations such as Philippines, Romania, India, Pakistan and Latin America. In a downward economic environment, Human resources solution may actually be boosted, as companies look for ways to cut operating budgets while still not comprising on the output.

Types of Human Resource Solution

  • BPO (business process outsourcing)
  • PEO provider (professional employer organization services provider)
  • RPO (Recruitment Process Outsourcing)

Services Typically Offered Within the Human Resource HR Value Chain:

  • Recruiting
  • Payroll Outsourcing
  • Management of Employee Stock Option Programs and other Employee benefits outsourcing
  • Remuneration and Compensation Management
  • Performance Management
  • Relocation
  • Data Management

General Profile of Human Resource Solution Companies

  • Differences between human resource HR Solution companies are usually based on scale of projects, scope, geographic coverage and technology competence
  • Leading human resource HR Solution companies have strengths in global reach, brand and capability, strong business know-how and subject matter such as payroll outsourcing and employee benefits outsourcing
  • Leading human resource HR Solution companies tend to look to Pakistan, India and Philippines as the leading locations for offshore delivery of human resource HR Solution HRS services.

Advantages of Pakistan, India and Philippines as Hotspots for HRS (Human Resource Solution)

  • Dominate HRS market particularly in Financial Services
  • Highly skilled labor pool, including use of Information Technology for payroll outsourcing
  • Cost competitive
  • Good service culture, including servicing of employee benefits outsourcing
  • Improving infrastructure
  • English language proficiency

Challenges Faced by Human Resource Solution Companies

  • Scoping: Human resource HR Solution companies need to determine the appropriate scope to achieve scale and deliver service models and frameworks, be it for payroll outsourcing or employee benefits outsourcing
  • Recruitment and retention of talent: Human resource HR Solution companies need to grapple with the result of increasing wages in HRS hotspots
  • Speed of transition: Human resource HR Solution companies need to adjust to short timeframes and provide the appropriate corporate support whilst not crossing cultural boundaries.