Payroll Outsourcing
March 16, 2023
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With increasing pressure to cut costs and optimise Human Resource (HR) functions, many companies in Singapore are choosing to outsource their HR and payroll management to HR service providers. Especially in small and medium-sized enterprises where manpower is scarce, external HR consultancy services in Singapore can provide tremendous support to take HR performance to a whole new level.
A typical HR service provider in Singapore will provide a comprehensive range of HR-related support such as payroll services, recruitment and consultancy. Depending on the client’s requirements, services are tailored to free up HR managers' time so that they can focus on more important tasks.
Taking Liberte as an example, the award-winning HR company offers an extensive range of customised HR and payroll services in Singapore. Strategic advisory on high-level HR policies like compensation and salary benchmarking, rewards and job evaluation frameworks, and compliance audits are also available to ensure clients stay on top of labour regulations.
There are four main advantages to outsourcing HR functions to a HR consultancy in Singapore:
An HR service provider can offer fair advisory that is not tainted by corporate culture or biases. It will introduce sound HR policies that are not only compliant to local labour regulations but also in keeping with industry standards.
Whether these policies relate to service quality, training requirements or safety measures, the HR consultant will take on the task of implementing necessary procedures that prevent the company from falling into potential pitfalls.
Happy workers are more productive. The key task of a HR consultancy is to improve employee satisfaction through competitive compensation and strengthen employee relationships. When companies are supported by an expert partner that helps to build the corporate culture while mitigating potential issues, employees will feel more encouraged to work towards a common goal.
Outsourcing HR functions can lower annual HR expenses by up to 30%. This is because HR tasks are outsourced to an external team and companies no longer need to hire a large HR team that can be expensive to maintain. Companies will also enjoy tremendous savings since they only pay for outsourced services and don’t need to invest in HR technologies or infrastructure.
Companies can tap on HR consultancies’ large candidate pool and experienced recruitment processes to find employees who are most suitable for their organisation. Essentially, HR service providers know where, how and whom to approach for specific job roles and their stringent screening process will ensure only the best candidates are hired.
When selecting an HR and payroll services provider in Singapore, companies should consider the size and capabilities of the existing HR team, as well as HR challenges that need addressing. A small team that is busy running many HR initiatives may benefit from outsourcing repetitive payroll management to free up HR managers’ time. One the other hand, a young HR team may need to hire an experienced HR service provider to establish long-term HR strategies and sound policies before the in-house team can run on its own.
Importantly, consider the budget. But that does not mean selecting an outsourced services provider that comes with the lowest price tag. Always select one that has a proven track record and renders quality services and manpower support.
Outsourcing to HR service providers is an effective alternative for businesses to enhance their HR functions and business operations. Especially if they choose to work with an award-winning HR company like Liberte, businesses can tap into many customisable solutions to help them stay ahead of the competition.
For companies looking to outsource their HR functions, contact us now to explore our wide range of services ranging from payroll management to compensation and compliance advisory, rewards strategising and job evaluation frameworking.
