HR Outsourcing
HR Outsourcing What is outsourcing? Outsourcing is a business practice in which services or job functions are farmed out to a third party. HR outsourcing is a contractual agreement between an employer and an external third-party provider whereby the employer transfers the management of, and responsibility for, certain HR functions to the external provider. Outsourcing benefits and costs The business case for outsourcing varies by situation, but the benefits of outsourcing often include one or more of the following: Lower costs (due to economies of scale or lower labor rates) Increased efficiency · Variable capacity Increased focus on strategy/core competencies Access to skills or resources ...