3 Ways HR Outsourcing Can Help Your Business Bounce Back After the Lockdown
Are you one of the many SMEs struggling to keep up with the latest HR challenges and regulations because of the pandemic? As every country throughout the globe remains in either full or partial lockdown and, as the effects of the pandemic force enterprises to consider their survival, economists predict that the aftermath of COVID-19 will affect small- to medium-sized businesses for several years. As such – and now more than ever – SMEs must better manage their day-to-day operational overheads and increase employee productivity to stay competitive in our recession. One way to do this is to invest in HR outsourcing.
Here are but three ways of how outsourcing can help your business bounce back.
- Save Money on Salaries
SMEs and even large corporations have felt the financial burden of the pandemic, causing spend cuts and layoffs. At such a volatile time, meeting a single full salary or an entire HR department’s wages, with benefits, is costly and often pointless – especially with remote working as the “new normal.” However, for the same monthly rate or less, you can generate better, efficient results when outsourcing. When you hand over payroll, tax, and contracts, and all your administrative tasks to a third-party, you reduce operational costs.
- Reduce Operational Risks
Although the South African government has met efforts to support businesses and employees, staying compliant is a challenge. Entrepreneurs must remain current with new and ever-changing legislation, but this requires time and in-depth knowledge only labour law experts will have. As a result, SMEs face the risk of contravening the BCEA, thereby increasing their chances of landing at CCMA headquarters. However, when you outsource your human resources to an HR professional with extensive knowledge of employment law and regulations, you will never find your investment on the wrong side of the law.
- Get the Latest HR and Payroll Technology
As we head towards atechnology-driven landscape, digitisation is critical to business resilience and growth. Yet, despite the business value technology offers, businesses rarely invest in HR and payroll technology as they do with customer service. The right AI is costly, but it can streamline processes accurately – from maintaining records, contracts, compliance, payroll, tax, and UIF to benefits. As one can imagine, the best perk of HR outsourcing is that you get access to the latest tech, ensuring efficiency and speeding up digital transformation, without having to invest in the right software.
As one of the top HR and financing outsourcing companies in South Africa, we, at CHA Group, believe that the best way to bounce back from the pandemic is with HR outsourcing. Whether you’re looking for contractual advice, assistance with recruitment or legislation, or consulting services on all aspects of HR – chat with us today.