What is HR Outsourcing?
HR Outsourcing involves hiring external organizations to manage human resources tasks and functions, such as payroll processing, employee benefits administration, recruitment, and compliance management.
Explanation
Outsourcing HR functions can be cost-effective for businesses, allowing them to focus on core activities while leveraging the expertise and technology of specialized providers.
Practical Example of HR Outsourcing:
A small business outsources its payroll and benefits administration to an HR services firm, enabling the company to ensure compliance and efficiency in these areas without the need for in-house HR staff.