If innovating and building great products is on your business agenda, get your hiring functions in order. And by that statement, we do not mean start investing a truckload of more money into buying new software applications and skilled and experienced people for your HR and accounting department, we are suggesting a far easier, efficient and affordable way to run things several times more smooth in your enterprise.
You may have heard of the term manpower outsourcing. And there is every chance that out of a hundred business managers/owners reading this article, a good portion may already be using manpower outsourcing in their enterprise. But this article is largely meant for the other fraction, the one that has only heard of it but is too sceptical to employ it in their enterprise.
Keep your concerns aside
Yes, that’s the first advice one can give you in the context of manpower outsourcing. This form of employment is gaining huge popularity among businesses of all sectors and domains, solely due to the sheer number of benefits it can bequeath any company with. But by far the biggest benefit of manpower outsourcing is the cheer amount of money you save
How you save tons of money
There are various ways through which outsourcing your staffing needs saves you money. To begin with, let’s take a look at the whole hiring cycle. When your project or business as a while needs an extra hand, you start your employee hunting exercise by posting vacancies on various job portals – online and offline. Right in the beginning, you are shelling out huge sums of money since advertising a job vacancy is not cheap, especially when you are choosing a platform that grabs a lot of eyeballs. And then, the other steps of the process ensue.
Looking through all the applications received, inviting the shortlisted candidates, interviewing them and finally zeroing in on that one or two individuals that you deem are the best. You then give them an offer that can influence their decision to accept the offer, which leads you to another process in the cycle – getting them integrated into your staffing system, your payroll function. Even if you have just started your business, you know the costs and complexities of maintaining the payrolls of several employees in your organization. Now, let’s replace the whole cycle with you outsourcing your manpower need to a third party company who provides its own human resource to you, handling its payroll and other employee centric functions all by itself.
So not only are you freed of the entire hassle of carefully looking through each application and judging it on its merit, you also end up saving tons of money that is spend on executing their process cycle. In addition to that, because you are not keeping your new hires on your internal payroll, all the associated costs are not your headache anymore. Everything is being taken care by the company that you have outsourced these individuals from, and that’s what makes it even more worth your while. The biggest cost is saved in the form of no tax penalties being forced upon you in case of any unintended or intended malpractices.