Outsourced human resource services could mean the difference between failure and success for your young company.
You’re an entrepreneur — you’re committed to learning and mastering the information you need to accomplish your goal. You’re driven and focused. It can be hard to know when to call in an outside professional to handle a task, and in many cases, you are the best person for the job. But when it comes to human resources, this is probably not the case.
Your startup needs you. Your vision and direction is essential to drive growth. If you’re wrapped up in payroll and benefits management, will your company continue to thrive? If you’re spending hours researching compliant hiring practices, will you have the time to continue carrying out all or your other equally important duties?
Outsourced human resource services make sense for companies in all industries and of any size, but it especially makes sense for startups.
Why Do Startups Fail?
StartupGenom surveyed over 3,200 startups and found that 74 percent of startup failures can be attributed to the company scaling prematurely. Premature scaling means the company grew too quickly, before it was prepared to handle the effects, and as a result, it folded. This could happen, for example, if the company hired too many employees too quickly, or hired too many specialists before they were critically needed.
Why Outsource Your HR?
As a startup founder, if you’re drowning in paperwork and need help from a professional, think twice before building an in-house HR department — there’s a better alternative. Rely on outsourced human resource services instead, and get the assistance you need to prepare to scale your business, plus these benefits:
Gain Access to Infrastructure and Software
Your outsourced team will have their own system already in place to take care of your HR tasks, including all the software and equipment required to establish a working payroll and benefits system. You won’t have to build your own system from scratch.
Recruit the Best Talent
With outsourced human resources services, you’ll save money that can be used to flesh out your benefits package. Since your outsourced team takes care of the hiring process as well, you’ll have an expert on your side to help you identify the potential employees who will help your company grow.
Prepare to Expand Geographically
Your startup might expand faster than you think. Once you hire workers in other locations — be it outside your state or country — you have to follow the payroll and tax laws that govern these areas. You can depend on your outsourced team to handle these complexities with ease.
Stop Wasting Time
When pesky, repetitive tasks like payroll become too much for you, outsourced professionals ease the burden. You can even outsource just one responsibility if you choose. Then you can get back to focusing on the tasks only you can handle. If you have in-house HR staff, they can focus on tasks that align with their strengths, and contribute to company growth.
Stay Current on Policy
Just keeping up with changing compliance regulations is a full-time job, and you’re already working overtime. Make sure your startup is in line with the rules by trusting a competent professional to manage policy and procedure.
Outsourced human resource services could save your startup by enabling growth that leads to greater success, rather than causing your business to buckle. Trust WTA, Inc., for personalized, professional HR management — call today to learn more.