Human Resources & Reporting Services
Administrative responsibilities can be a burden for any company, but especially for small to mid-size businesses with limited time and resources.
The real issue is that the human resources function is multi-faceted – encompassing a wide range of responsibilities. It can be hard to find all those skills in one person – managing benefits administration, coordinating interviews, sending offer letters, and much more. In fact, a typical Human Resources department may be responsible for any of the following roles within your business:
- Benefits administrator
- Employee training
- Compliance advisor
- Safety coordinator
That’s a lot to expect from a single employee. Yet establishing an entire HR department can be cost prohibitive.
The truth is that your company’s HR practices have a direct impact on your bottom line. Is your organization doing all that you can to effectively motivate and manage your employees?
Take a few moments to consider the following questions:
What is your company’s reputation in the marketplace? Is it considered a desirable place to work?
Does your company culture seek out employee feedback?
Does your company have what it takes to attract top-performing employees to key positions?
Do you have a customized recruiting strategy for a full range of key positions?
Are your employee’s job descriptions clearly defined? Do you have a customized orientation program?
Do you share your company’s business plan, financial status and goals with employees?
Do you have a realistic grasp of employee satisfaction?
Are your senior executives able to effectively demonstrate your company’s value?
How does your employee turnover compare to the standard in your industry?
Answering the questions above will give you better insight and considerations as to whether your organization could benefit from outsourcing for HR services.
Advantages of Outsourcing
If you haven’t given serious thought to outsourcing HR, the range of tasks that can be offloaded might surprise you. Finding business system solutions can have huge benefits. Outsourcing human resources functions is a smart solution that can reduce your administrative workload – allowing you to focus on your core business objectives.
An HR outsourcing company can manage the entire range of human resources functions that might otherwise require outsourcing to multiple vendors — including a payroll processing provider, benefit plan management and administration firm, corporate recruiters, a professional development team and more. Consolidating these important operational functions with a single source provider not only saves you time, it will very likely save you money too.
Because efficient management of human resources is vital to your company’s success, it’s crucial to find a service provider who can offer the right combination services to match your organization’s needs. Consider an HR outsourcing partner for any of the following services:
- Develop a HR budget
- Launch a company-wide staffing plan
- Create an employee handbook
- Institute hiring procedures
- Establish compensation structure
- Offer full-cycle recruiting or help with only certain aspects of the recruiting process such as performing phone screens, doing reference checks, preparing or presenting offers.
- Develop successful on-boarding programs to ensure that new employees acclimate to your organization more easily. A new employee on-boarding program can result in increased job satisfaction, increasing performance and lower turnover rates
- Review paperwork important paperwork like counseling documents, offer letters, policies, etc.
- Prepare and update job descriptions
- Fulfill tax obligations
- Handle payroll administration
- Review and Benefits plans
- Institute safety procedures
- Maintain personnel files
- Handle performance evaluation process.
- Conduct exit interviews and prepare exit paperwork
HR reporting uses an analytical method to reveal important data including insights, statistics and metrics that will allow you to keep tabs on employee performance, attendance, turnover insights that can help spot emerging problems, deploy proactive solutions and improve workforce performance.
No matter the size of a company, reports for management as well as team members are a critical part of any business that wants to achieve a competitive advantage in our competitive marketplace. They contribute to more effective decision-making and a deeper understanding of your workforce. A lot of valuable insights can be gleaned from the following HR Administrative Reporting:
- Payroll reports
- EEO reports
- New hires
- Training costs
- Employee productivity
- Absenteeism rate
- Overtime hours
- Employee status changes
- Turnover analysis
- Workers’ comp audits
- Termination reports
Outsourcing tasks like HR reporting has its obvious benefits. It allows your administrative team to:
- Save time and reduce paperwork
- Achieve compliance in critical areas like employment, labor and immigration law
- Focus on revenue-generating tasks
- Controls costs
Friday Services Can Help
One of the harsh realities of today’s volatile economic environment is that small to mid-size companies simply don’t have the resources to invest in a fully-staffed HR department. The problem is that this scenario opens your company up to potential vulnerability. That’s exactly why Friday Services is here, to help bridge that gap by offering on-going HR consulting – on an as-needed basis or on a retained basis. We’re here to act as your outsourced HR department so that your staff can focus on important core business issues. Or, we can simply assist your HR department for special projects or during peak periods.
Discover how outsourcing HR can dramatically boost morale, increase productivity and enhance profitability. Contact us with any questions.