As you set goals for 2022, keep in mind that a strong plan helps create direction for your entire operation, and can even prevent you from stalling or failing.
The good news is that business owners do not need to take on this new year alone. For example, a human resources outsourcing (HRO) partner, like SynchronyHR, can simplify HR, payroll, risk management, benefits administration, and more.
Consider the below benefits that come from working with an HRO partner.
From employee trainings to onboarding, it's no secret that human resources and administrative tasks can take a tremendous amount of time. For organizations that don't have an HR resource, these tedious tasks often fall on miscellaneous members of the management team or maybe even the owner of the business.
If you outsource your HR functions, a team of HR outsourcing professionals will take over a variety of administrative functions from your team, freeing their schedule to focus on client-specific or revenue generating tasks.
Per data from studies conducted by the National Association of Professional Employer Organizations (NAPEO), HRO clients experience an average 27.2% annual ROI with considerable cost savings on HR-related areas, such as HR personnel, health benefits, workers’ compensation, and payroll services.
SynchronyHR has helped save clients thousands of dollars a year in medical and workers' compensation premiums, administrative fees, and more.
Improve Employee Retention
In a competitive marketplace, retaining your best talent is critical to your success. HR outsourcing can provide you and/or your management team with experts who can help improve employee retention through enhanced trainings, employee growth and development, and more.
They can also provide access to top employee benefit and retirement offerings, which help reward and take care of your employees.
Processing payroll checks and direct deposits can be complicated, especially when you factor in withholdings, taxes, commissions, and more. By outsourcing payroll, a team of payroll professionals can take these concerns off of your plate, helping you free up time to focus on business growth.
Strengthen Your Internal Work Environment
Per further NAPEO research, business owners that partner with an HRO have been able to create a more engaging work environment and offer better benefits, reducing the average employee turnover by over 19.3%.
Start 2022 on the Right Path
Ready to grow your business with HR outsourcing in 2022? Or perhaps you are not satisfied with your current HRO partner? The HR, payroll, risk management, and employee benefit professionals at SynchronyHR are here to help.
Contact us today to learn more.