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The Advantage of Outsourcing your Company HR Needs
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Posted On :
Jan-13-2011
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Article Word Count :
418
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Benefits programs can be a financially advantageous for both employees and the employer. However, managing a benefits program can be very difficult for someone without experience. A good solution is to use a human resources outsourcing firm to fill the void.
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Offering benefits as a small company is a great way to keep your employees happy and even to save some money yourself. You can contact a benefits consultant who will point out some of the advantages to having these offers for your employees. A great example of this is to compare two different employees for two different companies. One employee makes sixty thousand a year, but they do not receive any benefits from their employer so they have to pay for health and life insurance themselves as well as their own retirement plans. This can cost hundreds of dollars a month, even over a thousand dollars a month, and assessing which of the contributions are tax deductions can be very confusing and time consuming for an individual. In any event, they still have to pay higher taxes your overall salary if they end up in a higher bracket. Now, let's say the other employee only makes forty-five thousand dollars a year, but they get all of their benefits from work including: health insurance, life insurance, retirement planning and funding and other benefits as well. They save the money, are taxed less because they have a smaller income than the other employee and actually end up with a similar disposable income over the course of a year. So who has the real advantage in this scenario? It is the company that has decided to offer their employee benefits.
The other consideration for many employers is the amount of paperwork and headache involved with managing an employee benefits programs. Regulations and rules can vary by city and state, and at times it seems rather overwhelming to try and tackle a human resources project along with all of the other day-to-day needs of the business. It is for this very reason than more and more companies are taking advantage of human resources outsourcing services.
An HR outsourcing company is basically a 3rd party that can manage your benefits programs for you and your employees. As stated earlier, there are many potential financial advantages to offering benefits, and often times top employees will not join a company unless basic benefits are offered. So utilizing an expert to handle the bureaucratic nightmare of a benefits program, as well as insuring that you receive the best rates, is a wise decision. When it's all said an done, your employees are happier, the balance sheet looks healthier, and the headache of managing the HR is left to a 3rd party expert.
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Article Source :
http://www.articleseen.com/Article_The Advantage of Outsourcing your Company HR Needs_48457.aspx
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Author Resource :
Jim Douglas Jr. is a Benefits Consultant who always recommends Human Resources Outsourcing for companies with limited HR resources.
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Keywords :
employee benefits, human resources, tax savings, HR outsourcing, benefits consultant,
Category :
Business
:
Business
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