For all business owners, keeping your business afloat as well as growing is a key priority more than ever now. The climate we’re now operating in is challenging and business owners are having to think outside the box to really stand out. This takes a considerable amount of effort and time and quite rightly so.
So if you’re doing this, spending time on HR related matters probably isn’t going to be favorable. But there are things that can’t just be ignored. Finding the balance between running and growing your business, whilst maintaining contracts, company compliance, isn’t always achievable.
Outsourcing my HR? Yep, you heard it!
Outsourcing your HR, simply means using an external party to perform services, in this case, human resources. The majority of small businesses choose to outsource their HR due to a lack of time, limited internal knowledge and budget constraints in hiring a full-time employee. At the moment, knowledge and time are key factors. With the Government announcing continuous changes including furlough schemes, grants and our working environments changing, it is even more important to ensure compliance and understanding. But you’re not expected to be an expert in everything!
HR outsourcing is beneficial for all sizes of companies but can be particularly useful for small businesses. If your business has a small team, it’s even more important that they each focus on delivering for their specific role, as opposed to spending time on other unrelated tasks. The more “hats’ your team have to wear, the less time they’ll be able to focus on their official position.
Benefits of HR outsourcing Cost effective
In comparison to hiring an HR team or even an HR Manager, paying each a salary, pension contributions, national insurance etc… outsourcing your HR is a more cost-effective solution. You receive expert advice and support as and when you need it, paying for exactly what you need. With a number of different packages to suit your business, you can ensure the costs you put aside are really providing a return for you.
But is it more cost-effective than you managing your own HR? Well surprisingly, it is more cost-effective still to have your HR outsourced. Based on the median average salary of a business owner, a total of £18,000 is allocated to HR-related activities. This compared with £159.00 per month… we’ll let you do the numbers!
During these unprecedented times, it’s even more important to ensure you are making the best savings to your business. Managing your own HR, might not be a saving for you after all!
Business owners who manage their own HR are losing 1/5 of their working week to HR related activity. HR outsourcing saves you that time and allows you to stay on top of your HR. This time saving and dedicated manager, allows you to actually maximise the benefits of HR.
This could be 1/5 of your working week that you could be spending on operational aspects to your business, particularly at the moment where businesses are having to adapt their ways of working.
For the majority of small businesses, one of the largest worries is the ability to keep up to date with the ever-changing employment laws and the possibilities of penalties for accidental non-compliance. Your outsourced HR Manager is always in the know and can be there to update any changes that occur.
Instead of having an in-house HR Manager who needs to be a generalist in all HR related issues, HR outsourcing means you receive expert advice within particular areas, for example payroll and employee relations. They are prepared to cover everything to do with HR, even Covid-19!
HR outsourcing teams have access to efficient and effective HR software that helps manage and streamline activities such as payroll and performance reviews. Access to this software also provides businesses with more time by running HR tasks on their behalf.
If you’ve been impacted by Covid-19, you may want to free up some time and use such software to take care of these tasks.
As a business owner, we don’t expect you to know everything. HR outsourcing helps streamline significant HR activities, giving time back for businesses to focus on growth and other core business activities.
One of our key statements with clients is “getting you back to business”. We know you started your business because you had a passion or a great idea and it wasn’t because you wanted to be updating contracts. Well let’s help you get back to that with HR outsourcing.
Partnering with Aspreys HR outsourcing
When your partner with us, we provide you with a bespoke and personalized service to suit you and your business’ needs. A dedicated HR Manager will be appointed to you and they will get to know your business in detail, ensuring their advice is specific to your business. From writing contracts to being your go-to person you can call, Aspreys will be there every step of the way.
If you’re looking for a helping hand to help you manage, contact our team today and have your HR covered for as little as £159 per month: [email protected]