CoAdvantage- Over half of companies today are outsourcing at least one or more of their HR functions. That’s according to the HR Dive 2021 Identity of HR Survey, which found that 54% of organizations outsource benefits administration and 53% outsource payroll processing, the two most common HR functions to outsource. Much of this outsourcing may[…]
CoAdvantage- By this point, business leaders and industry publications have probably published millions of words on COVID-19 and its impacts on the business world. We ourselves have written previously about trends and long-term implications resulting from the pandemic. Frankly, though, the seriousness of the pandemic, and the weaknesses it uncovered in workplace crisis readiness, has[…]
CoAdvantage- When we talk about the benefits of HR outsourcing, we normally address the advantages for the employer: reduced HR-related costs, freed up time to focus on core business goals and revenue generation, better benefit offerings, and more. Even the benefits for employees often circle around to benefits for the employer, like reduced turnover and[…]
CoAdvantage- HR is a fast-moving and challenging field that can be overwhelming, especially when non-HR people are handling HR tasks (as is the case at startups and small businesses where the owner often handles many HR-related activities personally. Where can you find information and support for managing the wide array of HR duties – payroll,[…]
CoAdvantage- Professional Employer Organizations (PEOs) can be an exceptional option for cash- and resource-strapped small to midsize business owners. They let these organizations gain access to enterprise-grade services and experts in recruitment, benefits administration, labor compliance, risk management, and more, all at economy-of-scale pricing. But how do you know when a PEO becomes the right[…]
CoAdvantage- Complexity in HR is a hot – and complicated – topic. HR leaders say that their HR administration has grown significantly more complex over time: “Being a competent HR professional has become increasingly complex,” say researchers from the University of Michigan’s Ross School of Business, Brigham Young University, and Utah State University. That growing[…]
CoAdvantage- From the employer’s perspective, a benefits package has a job to do: if you spend the time, energy, and money to put together a competitive benefits package, it should benefit not just your workers but also the organization itself. It should enable your company to more successfully entice new employees, promote loyalty and retention[…]
CoAdvantage- If your organization outsources some of its HR activities – like payroll, benefits administration, and more – but you haven’t carefully aligned the way the two teams work, you might be losing some of the potential benefits of outsourcing. Following these seven tips can help your internal HR pros to maximize the advantages of[…]
CoAdvantage- Outsourcing HR gains three big advantages for businesses: time, money, and competitive advantage. Even better, outsourcing can have an outsized impact for small and midsize businesses (SMBs) in particular; and this is true even if all your team does is offload transactional HR tasks to a third-party. But how exactly does outsourcing deliver these core[…]
CoAdvantage- The COVID-19 pandemic has hit American businesses hard. According to the Congressional Budget Office (CBO), the unemployment rate rose from 3.5% in February to 14.7% in April, representing tens of millions of jobs lost, with expectations that the average unemployment rate will remain close to 10% in 2021. And it’s not just the workforce[…]
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