Why Fractional HR and Outsourced HR?
Human Resources can be a daunting business function, and many companies have neither the capacity nor desire to handle these functions entirely in-house. More and more businesses are adopting fractional or outsourced HR models; 80% of companies delegate at least one HR function to external providers. Fractional and outsourced HR are ways to enjoy all the benefits of an expert HR team without having a full-fledged, in-house team.
Fractional HR: An Overview
A fractional HR team provides expertise at all levels on a part-time basis where there is a gap in team capacity or capability. This can be especially beneficial for small to medium-sized organizations that may not have the workload or resources to hire a full-time professional but still need expertise in the area.
Top Benefits of Partnering With A Fractional HR Team
Fractional hires are unlikely to have long-term aspirations within your company, minimizing the scope for internal politics or unnecessary posturing in accomplishing their tasks. Another benefit of outsourcing functions to fractional HR providers is ensuring access to specialized skills and expertise. These professionals are well-versed in HR regulations, compliance, and industry best practices, providing valuable insights and guidance. Additionally, fractional HR allows businesses to access HR expertise without hiring a full-time HR team. This factor can significantly reduce costs associated with full-time salaries, benefits, and other overhead expenses.
Common Misconceptions About Fractional HR
If I’m going to hire someone to replace a fractional HR professional in a few months anyway, wouldn’t I be better off doing that now?
Let’s debunk this misconception. Filling an executive role through traditional search firms typically spans 6-9 months and incurs a six-figure cost. On the other hand, opting for a fractional executive expedites the process to weeks, significantly reduces expenses, and offers assistance in identifying the optimal full-time replacement. Moreover, they are available to support the onboarding of your new hire.
Will bringing someone in for a short term negatively impact our company’s culture?
The short answer is no. Fractional HR professionals are skilled at integrating seamlessly into the existing culture and can contribute positively to the work environment. Furthermore, a fractional HR professional can help establish or refine a company’s culture by establishing education and policies around diversity, equity, and inclusion. This can ensure your company is a place where employees thrive and are aligned with the company’s vision.
Will fractional HR have limited expertise compared to an in-house HR employee?
Not at all. Fractional HR teams bring a wealth of experience by leveraging a team of HR experts with specialized knowledge, offering insights and solutions that contribute significantly to the company’s HR functions.
Outsourced HR: An Overview
Outsourced HR is pivotal in providing leadership, management, development, and execution of HR functions for small and growing businesses. By outsourcing a diverse team of HR professionals, you gain a multifaceted approach to HR support while reclaiming valuable time in your day to concentrate on core business measures. Leverage expert HR services to enhance strategic planning, fortify business operating systems, and implement HR solutions that contribute to overall business success.
Top Benefits of Outsourced HR
With Outsourced HR, your company will gain the partnership of an executive level resource without the annual salary and comprehensive benefits package required. Additionally, your business can enhance its efficiency by outsourcing specific HR tasks. Outsourced HR providers focus on streamlining processes, resulting in faster turnaround times for HR-related activities.
HR regulations and employment laws are often challenging to maintain in-house, but outsourced HR companies stay informed of evolving legal requirements, helping companies mitigate risk.
Common Misconceptions About Outsourced HR
Isn’t HR outsourcing only for large companies?
This is a common misconception. Small, growing businesses can benefit from outsourced HR in areas of leadership, management, development, and execution of all functions.
Does HR outsourcing mean losing control?
It certainly does not. Outsourced HR solutions offer a collaborative partnership and decision-making approach.
Will HR outsourcing compromise data security?
Let’s dispel this rumor. Data security is a top priority for reputable HR outsourcing providers, who will prioritize compliance with data protection laws. At Cura HR, compliance is incorporated into everything we do.
Outsourced HR Cost Breakdown
Cura is Your Outsourced HR Partner
Outsourcing HR tasks allows companies to redirect their focus and resources toward core business functions, promoting overall business growth and development.
At Cura HR, we leverage our expertise, resources, and knowledge base to provide our clients with comprehensive HR solutions. Our team of HR leaders has a track record of excellence in improving HR management, compliance, and overall workforce effectiveness.
At Cura, we understand the impact skilled HR management can have on an organization. Let us support the growth and sustained success of your business. We offer customized fractional and outsourced HR solutions for your business. Get in touch today.
