💲Maximize Productivity and Minimize Costs With Hr/Payroll Outsourcing Services

Understanding the Hiring Process [Image]( Expert Insights on HR May 29, 2024   Our Expert’s Topic for the Week:HR Outsourcing Trends Outsourcing your HR and payroll functions can help streamline processes, ensure compliance with regulations, and improve efficiency in managing employee data. It frees up valuable time and resources for you to focus on core business objectives while ensuring that HR functions are handled properly. This week’s newsletter focuses on HR outsourcing trends, using a PEO service to outsource your HR and payroll functions, and how outsourcing services work. - Jennifer Soper, Robie Ann Ferrer, and Genevieve Que   Stay Current   - The global HR outsourcing market is expected to reach $65.3 billion by 2030, fueled primarily by companies looking to streamline HR operations to focus on more business-building strategies, according to a ReportLinker survey. - Many owners of small to medium-sized businesses (SMBs) will turn to professional employer organization (PEO) service providers to help handle their day-to-day HR, payroll, and benefits administration tasks. A Povvado research shows that 33% of SMBs partnered with PEOs in 2022, a nine-percentage point increase year-over-year since 2018. Here are the articles covered in today's edition: - [8 HR Outsourcing Trends in 2024](//link.fitsmallbusiness.com/click/35527401.17190/aHR0cHM6Ly9maXRzbWFsbGJ1c2luZXNzLmNvbS9lbXBsb3ltZW50LWNvbnRyYWN0LXRlbXBsYXRlLw/5da4de6d3f92a45a8360dd30B1f9219c5 - [What Is a PEO & How Does It Work?](//link.fitsmallbusiness.com/click/35527401.17190/aHR0cHM6Ly9maXRzbWFsbGJ1c2luZXNzLmNvbS9vZmZlci1sZXR0ZXItdGVtcGxhdGUv/5da4de6d3f92a45a8360dd30Bad030444 - [How Payroll Outsourcing Services Work](//link.fitsmallbusiness.com/click/35527401.17190/aHR0cHM6Ly9maXRzbWFsbGJ1c2luZXNzLmNvbS9ob3ctdG8taGlyZS1pbnRlcm5hdGlvbmFsLWNvbnRyYWN0b3JzLw/5da4de6d3f92a45a8360dd30Bdc6a1342   [8 HR Outsourcing Trends in 2024]( [8 HR Outsourcing Trends in 2024]( Stay ahead in the HR outsourcing industry and make informed decisions for your business by exploring the latest HR outsourcing trends of 2024.   [What Is a PEO & How Does It Work?]( [What Is a PEO & How Does It Work?]( A PEO acts as the co-employer for payroll and tax purposes, sharing employee-related responsibilities and legal aspects with you. It files withholding taxes, pays unemployment insurance taxes, and provides workers’ compensation coverage. However, you still maintain control over everyday business decisions, such as directing what work gets done.   [How Payroll Outsourcing Services Work]( [How Payroll Outsourcing Services Work]( Many small business owners outsource their payroll and HR because of how complicated and time-consuming the tasks can be. A payroll outsourcing company will gather your employees’ information (hire date, job title, and pay rate) and time card data, calculate the amount due to each employee, and then pay that amount by issuing a direct deposit or payroll check. Recommended For You   [Indeed vs CareerBuilder: Price, Features & What’s Best]( We evaluated Indeed vs Careerbuilder on pricing, features, and ease of use to help you find which recruiting solution is right for you. [Bambee Review: Is It the Best HR Outsourcing Solution?]( Looking for HR outsourcing services? Read our Bambee review to learn more about its services, features, pricing, and alternatives. [6 Steps on How to Hire Employees]( Learn how to hire employees by creating strong job descriptions, advertising, evaluating resumes, and interviewing candidates. Did you know? 🤔 There's more beyond the newsletter? Follow us on social media to stay informed on exclusive insights, resources, and sneak peeks into the latest trends in marketing! [Facebook]( [Instagram]( [Pinterest]( [LinkedIn]( [YouTube](   Latest in HR   [In-House Payroll vs Outsourcing]( Many companies outsource all or part of their payroll duties to a service or provider, while others handle it in-house, using their own staff and resources. The trade-off between in-house payroll vs. outsourcing comes down to whether you want to pay for the convenience and expertise of a payroll service or maintain control of all payroll aspects by doing it yourself.   [6 Best HR Outsourcing Services for Small Businesses]( The best HR outsourcing services for small business owners provide several benefits to employers, such as better HR processes, improved compliance, and cost savings from not having to directly hire an HR manager.   [8 Best PEO Companies]( The best PEO companies offer full HR and payroll services and help handle regulatory compliances to ensure you’re up to date with payroll tax rules and labor laws. PEO services also include access to a wide range of benefits at better rates—fees you don’t normally get as a small or midsize business. More FSB Resources   More Than A Newsletter   Written by Jennifer Soper, Robie Ann Ferrer, and Genevieve Que About Fit Small Business HR Newsletter: Providing you with newsworthy tips, tricks, and informational deep dives on all HR and Payroll topics relevant to small business owners. Delivered to your inbox every Wednesday. [Sign up today]( Visit the [Subscription Center]( to get other free newsletters, manage your account settings or to be removed from Fit Small Business communications. 0[Unsubscribe]( | [FAQ](| [Terms of Use]( | [Privacy Policy]( © 2024 TechnologyAdvice, LLC. All rights reserved. This is a marketing email from TechnologyAdvice, 3343 Perimeter Hill Dr., Suite 100, Nashville, TN 37211, USA. Please do not reply to this message. To contact us, please [click here](.