In today’s complex and rapidly changing business climate, it’s easy to foresee a situation in which a company, regardless of size, may need HR outsourcing services. While most people are somewhat familiar with the term outsourcing, they may not understand the full array of services it actually covers. With those parameters in mind, let’s take a look at what outsourcing is and why it can be so important to a company’s day-to-day operations.
What Falls Under HR Outsourcing Services?
When a company requires HR outsourcing services, they could be searching for a couple of things. These may include:
- Management of employee benefit programs, which includes such things as 401K plans, healthcare plans and their IRA or Roth accounts
- Making sure an employer is compliant with all of the Affordable Care Act requirements, which include minimum value coverage plans, calculations of PPACA availability and a thorough management of PPACA compliance reporting
- Overseeing and tracking employee payment for vacations, holidays and sick days
- Handling all workers compensation and unemployment claims in a timely manner
- Making sure all wage and hour compliance standards are met
- Responding to all wage and employment verification requests
- Notifying employees of all federal, state and city notifications
- Handling international payroll situations
- Notifying employee of internal company procedure and policy changes
In short, HR outsourcing services cover a vast array of tasks companies need to take care of on a daily basis. In many cases, they may not have the resources necessary to do so. When companies outsource these tasks, they can rest assured the work is done correctly and they have plenty of time for other important tasks.
If you’re looking for more information on HR outsourcing services, contact Innovative Employee Solutions at their website today.