Human resource outsourcing is when a company employs another organization to do their work, rather than using its own employees to do it. In other words, the business hires a third company to recruit and train new workers and even take responsibility for the legal regulations instead of doing these tasks by themselves and by their resources including personnel department, time and place, etc.
By having HR outsourcing perform human resource tasks, the small and medium businesses are able to minimize the expense and time and maintain the optimal outcomes at the same time, particularly in terms of the payroll management. When it comes to a larger scope, employing human resource outsourcing can improve the administration information through the IT system, look for the prospective applicants who are not internally available, and provide the HR department with a relief from other problems.
Human resource outsourcing companies tend to equip themselves with a fixed location and facilities to foster the recruitment process, associated with well-qualified and experienced staff who devote to the particular task of outsourcing. Therefore, the team is likely to focus attention on the crucial points and perform efficiently. Human resource outsourcing can be given in various ways.
- Business process of HR outsourcing is when all the activities in the Human Resources Department are carried out by the third company, entirely separated from the main business.
- Sharing service of HR outsourcing is when a part of management factors is sub-contracted to the external supplier.
- Application service of HR outsourcing is when the HR company supplies facilities to support the recruitment process, no human involvement.
With regard to services, the supply of payroll management and recruitment will be readily available from any HR outsourcing companies. Apart from these, the package also includes statutory insurance and personal income tax.
According to the statistics by the economists Laurie Bassi and Dan McMurrer, businesses that used HR outsourcing is 7 to 9 percent faster in developed rate, in comparison to those which did not use. Taking advantages of these HR outsourcing organizations enables small companies to set aside the staff problems, focus on the main performance, and therefore contribute to renovating the company position. Moreover, curbing the recruiting expenditure can assist the business in reducing its product price tags, benefiting the customers. Thus, human resource outsourcing is the optimal option for any organizations.
Taking pride in more than 10 years of establishment and operation in the Vietnamese market, Faro Recruitment Vietnam is one of the best options for human outsourcing services. Faro knows what is taking place in the labor market, conscious of the target customers of the individual enterprise, its developing objectives, and its working environment, etc. Therefore, Faro Vietnam can be located in the post of outsourcing supplier.
Payroll management grasps the undivided attention of all companies. In the case, Faro Vietnam can offer these companies a relief from a burden of salary, commission, annual payment, insurance, and other financial issues. Furthermore, HR outsourcing offers all cutting-edge facilities to search and approach which keep the organization on the top list of HR service supplier.