How Does HR Outsourcing Reduce Costs?
If you are running a business, odds are you are always concerned with reducing costs – but how? “Does HR outsourcing reduce costs?” is a common question from small business owners, and with Canal HR, the answer is yes! By working with a PEO, HR outsourcing can reduce costs for your company in various unexpected ways. Canal HR makes it easy for you to handle your human resources needs more efficiently than ever and saves you money in the process. If you have ever wondered, “How does HR outsourcing reduce costs?” Canal HR has the answer.
What is a PEO?
A PEO is a professional employment organization that enters into joint employment with a business. They can assist the company in several areas involving personnel management and administration. As a PEO, Canal HR helps several companies in workers compensation, risk management, payroll administration, employee benefit packages, and more. Working with a PEO is a smart choice for new, growing businesses and businesses that need more delicate attention paid to their legal and financial records. Companies that outsource HR to a PEO experience a host of benefits, one of which being a reduction in costs in several veins of their business.
How Does HR Outsourcing Reduce Costs?
HR Outsourcing Helps You Avoid Fines and Penalties
The paperwork that goes into properly running a business is tedious and seemingly endless. Many come with strict requirements, rigid deadlines, and costly fines for failure to adhere properly. Sometimes failure to comply with legally required paperwork can result in steep penalties for a business. For that reason, an overwhelmed or under-trained employee can lead a company into a world of trouble when it comes to mishandling paperwork. When these duties are outsourced to Canal HR, you can rest assured that your business’s paperwork is done correctly and on time, allowing you to skirt those inconvenient fines. Whether it’s for workers’ compensation proceedings, payroll, healthcare, or more, Canal HR has expertly trained, seasoned professionals fully dedicated to handling your business’s filing needs.
HR Outsourcing Reduces Costs Associated with Hiring
With Canal HR, outsourcing reduces costs by allowing you to skip the lengthy hiring process. From posting the job to screening the candidates to onboarding, the entire hiring process costs more than $4,000 on average to cover a single roll. Moreover, the whole process typically takes over a month to complete. Rather than trying to hire an entire HR department and spending the time and money associated with conducting interviews, directing training, paying salaries, providing benefits, and more, come work with Canal HR. Working with Canal HR means we act as your human resources department, which eliminates the need for new hires and gives clients the potential to save thousands of dollars in operational costs.
HR Outsourcing Let’s You Focus on More Lucrative Areas of Business
Many issues arise when it comes to running a company, and odds are you didn’t start your business because you have a passion for human resource operations. Luckily for business owners, Canal HR does. You have things other than paperwork and administrative hiccups to concern yourself with while nurturing your business. Outsourcing to Canal HR allows you the opportunity to increase profits by returning focus to the areas of business you know and love most. You can work on growing your business and expertise and avoid the costs associated with poorly handled administrative matters and wasted time. Canal HR has the expertise necessary to cover all of your personnel needs with speed and efficiency, so you can focus on making money rather than spending it.
HR Outsourcing Helps Prevent Costly Workplace Accidents
On-the-clock accidents are never good, and when they are severe, they can lead to workers’ compensation claims. Workplace injuries lead to several immediate, direct costs, such as those linked to the company’s downtime, loss of productivity, and broken or damaged equipment, to name a few. On top of this, the hearings, insurance costs, paperwork, and back-to-work resources necessary to appropriately navigate a worker’s comp claims also waste monetary resources. Canal HR not only helps you formulate a risk management plan to minimize hazardous incidents on-site, but we can also help you more efficiently navigate the world of workers’ comp if the worst occurs.
Let Canal HR Reduce Costs for your Business
When it comes to reducing costs, HR outsourcing is a no-brainer for any business. Canal HR can help you save time and money by taking charge of your human resource department no matter your field. Get the peace of mind that having experts on your side provides. Connect with us today to get started reducing your business costs with outsourcing. Canal HR is here to help.