Benefits of Outsourcing Your HR Services
Are you looking for practical ways to save money this year and focus on growing your childcare business? Professional Human Resources services can help. When you outsource HR to a professional service, you can set your Early Childhood Education business up for new growth and lasting success. In this article, we’ll take a look at the different HR services your childcare business can outsource, as well as the benefits of outsourcing your HR services. Read on to find out more.
HR Services Your Childcare Business Can Outsource
Think you need to hire a full-time HR professional for your growing childcare company? Consider outsourcing instead. Outsourcing your HR gives you access to professionals who can help you accomplish a variety of essential HR functions:
As any savvy childcare business owner knows, payroll processing can be a full-time job. Outsourcing the administration of your company’s payroll can add value to your business by helping you with the following tasks: setting up payroll, filing payroll taxes, streamlining and processing your company payroll cycles, overseeing employee paid time off, including sick days and vacation days, reporting payroll, reporting new hires, keeping your payroll systems compliant with changing laws and regulations, and more. A professional accounting service is also a reliable option for outsourcing your payroll administration.
Creating a pipeline of stand-out employee applicants is no easy feat, and many childcare business owners find they could use some expertise when it comes to their employee recruitment efforts. Outsourcing this role to a professional HR service provider can go a long way in helping you attract quality candidates and transition them into top-performing employees. Outsource the following recruitment-related tasks to a professional HR service: support with job postings and job descriptions, access to online candidate applicant systems, basic screenings including criminal background checks, substance abuse testing, and medical testing, filtering of candidates by resumes, cover letters, certifications, or other criteria, onboarding new hires, and more.
Employee Relations Management
Recruiting and hiring top talent is only one side of the coin when it comes to employee relations; fostering an ongoing, mutually beneficial relationship with new and existing employees is the other side. Outsourcing your HR services can help with ongoing employee relations too. HR services can help with employee training, including safety training and workplace harassment training, as well as oversee employee performance goals and reviews, foster diversity, equity, and inclusion in the workplace, and more. Working with a knowledgeable HR service in this area can greatly reduce your employee turnover rates.
Benefits Procurement and Management
Working with a professional HR service can also provide access to high-quality, affordable benefits for your employees. Outsourcing your benefits management to an HR service can be much more advantageous than trying to procure benefits for your team on your own; professional employer organizations (PEOs) can usually secure better rates for essential benefits, including health insurance, dental and vision insurance, short-term and long-term disability insurance, life insurance, and more, than you could obtain on your own. In addition, professional HR services can manage employee assistance programs, open enrollment, insurance-related digital tools and programs, unemployment claims, COBRA administration, 401(k) plan and administration, and more.
Let’s face it: U.S. labor laws and regulations are constantly changing, and state requirements may differ from one another. Outsourcing your HR services to a professional firm can ensure that your childcare company stays compliant with federal and state regulations. When you work with a professional HR service, you ensure compliance with federal, state, and local mandates, including wages, hours, leave policy, process management, workplace safety training, anti-harassment training, and more.
Benefits of Outsourcing HR for Your Childcare Business
Now that we’ve explored the variety of HR functions you can outsource for your childcare company, let’s take a look at some of the benefits of outsourcing HR to a professional service.
Save Time and Effort
HR duties are a full-time job in and of themselves, but that doesn’t necessarily mean you need to do them yourself or hire a full-time employee to get the job done. Outsourcing your HR services can save you time and effort, freeing you up to focus on what you love most about your childcare company and grow your business.
More and more businesses are relying on outsourcing to save money, and the childcare industry is no different. In addition to outsourcing your professional accounting services , and outsourcing your Chief Financial Officer (CFO) , you can save money by outsourcing your HR services. Instead of paying a full-time salary and benefits to an in-house HR professional (or two), you can gain access to the professional expertise you need on the terms you want with outsourcing. The bottom line? Outsourcing is usually better for your bottom line.
Get Peace of Mind
When you put your HR services in the hands of the experts, you can have peace of mind knowing it’s being handled right. As a busy childcare business owner, you have much more important things to focus on than whether your employee leave policy is compliant with the latest federal regulations. Leave HR compliance to the experts and rest assured that they’ve got you covered.
The experts at Honest Buck Accounting know how essential professional accounting services and professional HR services are to your Early Childhood Education business. That’s why we have recently partnered with Mineral HR, an industry-leading HR and compliance platform. The experts at Mineral HR will help you stay on top of state labor laws with their online database, call an HR specialist to get advice, organize workplace trainings for your employees, and more. Schedule a call with the Honest Buck Accounting team to learn more.
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