When you consider business and HR outsourcing options for your company, you need to determine what's right for you and your specific business. You may soon realize that you need more than just one service, which is all that many HR outsourcing providers offer.
Instead, your choice should be determined by the comprehensiveness of services and support offered by the HR outsourcing company. Only a best-in-class HR outsourcing solution can provide you with comprehensive services at cost-effective rates.
7 Services Your HR Outsourcing Solution Should Offer
When looking for the right HR outsourcing solution, you need to consider the unique needs of your business. But there are seven items you must see in your potential partner to know that they are providing you with comprehensive solutions.
1. Affordable Employee Benefits
The right HR outsourcing solution will offer you access to their master benefits plan negotiated at scale by experts. Small businesses often find it difficult to get quality healthcare and benefits coverage for their employees because the costs are so high. With a comprehensive HR outsourcing solution, your company can offer high-quality coverage at rates you can afford.
You can expect to get access to:
- Major medical plans
- Dental plans
- Vision plans
- Life insurance
- Short- and long-term disability
- Employee assistance programs
- 401k and other retirement plans
2. Payroll Administration Done for You
This is a big one for many small businesses because payroll takes a great deal of time and can be the full-time job, depending on the size of your company. Your HR outsourcing solution should provide you with not just payroll services, but also tax remittance and other related services, including:
- Wage garnishments
- Benefits deductions
- W2 and 1099 documents
- Online payroll portal for employee paystubs and business reporting
3. HR Administrative Burdens Relieved
HR duties are often the focus of complex tasks. Getting these right every time is imperative to keeping your business compliant and ensuring you avoid costly fines.
Your HR outsourcing solution should provide you with a detailed employee handbook. This handbook will be customized for your business and ensure that your employees understand their rights and responsibilities. Your provider should also help you craft compliant job descriptions.
4. Employee and Manager Training
Training your employees is vital to keeping them safe on the job making sure they understand your rules and regulations for being at work. With a comprehensive HR outsourcing provider, you can expect to receive:
- Safety policy and program
- Leave of absence management
- Succession planning
- Performance management
- Management coaching
- Progressive discipline policy and process
- Performance enhancement programs
5. Total HR Compliance
Depending on the size of your company, there are different employment laws to which you may be subject. You will need HR experts guiding you to make sure you are compliant with these laws, even if you are not subject to them yet.
Some of these laws include:
- National Labor Relations Act (NLRA)
- Employee Retirement Income Security Act (ERISA)
- Affordable Care Act (ACA)
- Medicaid Health Plans of America (MHPA)
6. Workers' Compensation Savings
With few exceptions, every business must carry workers' compensation insurance. This coverage provides benefits to employees who suffer on-the-job injuries. One of the most important things your HR outsourcing solution can do for you is to provide you with risk management. This may include identifying and dealing with risks before they lead to injury, which raises premiums.
With the right HR outsourcing solution, you may also be able to save money on your workers' comp coverage. Your provider may have a lower experience modifier, or e-mod rate, which is what insurance companies use to determine the premiums you pay. By adopting their e-mod rate, you can lower your premiums.
An HR outsourcing company will also help you manage workers' comp claims. They will ensure that approved claims are legitimate and fight any claims that are not.
7. Help Capture Extra Tax Incentives
Because your HR outsourcing provider handles your payroll, they will also be able to help with your tax liability. Through different efforts, your provider may be able to secure reductions in your tax liability by accessing additional tax incentives.
You should expect assistance with:
- Cost segregation
- Property tax
- Document management
- Workforce hires
All of these things are often handled by multiple vendors. That gets confusing and creates a situation where mistakes could easily occur. But with a single, comprehensive HR outsourcing solution, all of these items are rolled into one provider, offering you the highest level of expertise. Whenever you have a question or an issue, you have one HR expert to call, not many.
Get Best-in-Class Services from Navigate
Navigate offers all of the above services and support, plus so much more. No matter what your specific business needs are right now, you should expect that your HR outsourcing solution will provide you with at least the seven services above.
By choosing a comprehensive HR outsourcing solution today, you can future-proof your business. From payroll and tax remittance to labor law compliance and benefits administration, Navigate does it all for you. This frees you and your internal team up to focus on your core business needs and keep your business thriving.