Human Resource Outsourcing (HRO) is not only taking foot amongst the Small to Medium corporate and non-corporate enterprises, but its showing measurable gains in organisational productivity and companies bottom line results. HR outsourcing is growing at a national average or 9.5% year on year [SHRM 2020].
More recently, many of you may have probably noticed that internal Human Resource Departments in organisations are shrinking dramatically. This is because more organisations are choosing to take a new approach to HR and outsource their own Human Resource Management team.
According to a study by the American Management Association, Human resources is the second most likely corporate business function to be outsourced. This common practice is freeing up time and increasing productivity at many businesses.
Accessing Talent Attraction, Talent Acquisition, and Talent Retaining, is crucial to organisational success, regardless of its size. The main benefit of HR outsourcing is having access to professionals who possess knowledge about various employee benefit schemes, insurance options, market trends, etc. With ever shrinking HR departments, the case for Human Resource Outsourcing is growing each year, if not total HRO, then at least partial outsourcing to augment existing HR presence.