There is a general perception among small & medium business owners
that third-party
outsourcing of business functions such as HR is essential for only large corporate. However, time and again it has been proven that
streamlining business operations and cost-control strategies in the form of
outsourcing is restricted not just to the large companies but also the SME’s.
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| Comprehensive Solutions for Every Client |
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| HR Process Management |
The evolution of outsourcing in destinations such as India, Vietnam and
Philippines etc. and the development of high-quality service providers like Mynd Solutions have
however driven a change. This change
in the thought processes of Small/Medium business owners are driving more
outsourcing operations and is primarily attributable to the below reasons:
Local Payroll-related ccompliance and
taxation: Small
businesses normally find challenges in this area of business, owing to its
strong financial and legal implications. Employee benefits compliance and taxation
related laws are the specific areas that require immediate attention and any
laxness on the part of the company can lead to major financial losses
as well as harm the public reputation of the company. HR outsourcing can be
very beneficial in this regard and help to avoid this tricky situation. High-end technology access at a relatively affordable price: Small and medium enterprises and/or newly
formed companies normally have limited resources for spending on technology and
infrastructure etc. In case the backend services are outsourced, the need for
companies to own sophisticated and latest technology tools/ skilled manpower
are actually eliminated. Hence, the Capex and
Opex are decreased for the company. A comprehensive solution: SMBs can avail the benefits of a comprehensive HR
solution by sub-contracting their entire HR function to a trusted third party
vendor. Payroll,
Statutory Compliance,
Employee Lifecycle
management can
all be handled under the same service umbrella by the service provider.
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