Historically, business owners have held to a siloed approach for managing accounting and human resources, handling certain functionalities in-house, while subcontracting individual processes to outside providers. The growing trend of outsourcing HR and accounting to a single provider who offers a suite of services presents business owners with the opportunity to ease the workload in-house, increase efficiency, and reduce liability for their business.
Likewise, new developments in technology, including SaaS models and cloud-based data sharing, also make it possible to custom-tailor solutions to meet the specific needs of an individual business, regardless of size. In the areas of employee benefits and payroll processing, in particular, contracting with a reputable service provider that can act as a one-stop-shop can provide a stepping-stone for future business expansion by reducing expenses and freeing up valuable resources for strategic planning. Download this whitepaper to learn more about HR outsourcing for benefit and payroll services for small businesses.