According to Lisa Bauer, an employment and HR compliance expert business owners often think of an HR shared services provider as someone to handle payroll, benefits, and HR-related government compliance issues and updating policies due to changing HR-related government laws.
But, there’s much more these organizations can do to impact your business for the good.
Most business owners are not employment experts. Management of employees, and legal compliance is time-consuming and something for which most business owners are ill-prepared.
But, HR shared services providers understand how to organize people and processes around a common purpose to help you attain business goals.
They can provide professionals who collaborate with your company’s leadership to diagnose problems and offer solutions geared at helping to mitigate employment-related risks and improving financial performance.
Energize your employees and improve engagement and productivity
An HR shared services provider does not only gives your employees access to benefits and employee assistance programs that would be far too costly for most small businesses to provide, but can also help you implement flexible hours and remote work arrangements, which are particularly popular with employees.
Build a thriving company
An HR shared services provider complements a business, no matter where it is in its growth cycle. Start-ups, growing mid-market businesses, and companies focused on stability or reinvention, can all benefit from an HR outsourcing partner who can develop and implement a plan that aligns management and employees with business goals and objectives to achieve optimal results.
Best of all, an HR shared services provider automates processes and enhances your ability to easily run reports to analyze people management issues.
It can provide the support you need to handle much of the complexity and free you to focus on running your business. To help ensure that employee interactions (onboardings and terminations) are handled in ways that are both caring and compliant with HR best practices.
An HR shared services provider can help your business perform more effectively, improve profits and reduce risk by handling or assisting you with HR-related issues, such as a salary review or conducting a compliance review of your existing employment policies and practices.
They can also conduct climate surveys to address issues impacting employee morale. Since there’s a direct correlation between employee happiness and profitability, addressing “soft” issues could lead to better productivity.