Looking to scale your staffing firm? Businesses, such as yours, that are looking to improve efficiency and grow are prioritizing strategic outsourcing of their back office tasks to achieve their goals.
And, the trend is here to stay.
According to a 2022 study, 90 percent of businesses surveyed in the U.S. plan to outsource. The goal of outsourcing is to derive a range of benefits such as achieving business growth, legal and compliance support, enhancing operational efficiency, and gaining access to expertise.
While these benefits apply to all businesses, let’s look at the benefits of outsourcing your back office tasks in some detail.
Top Four benefits of outsourcing your back office tasks
Cut costs: Building and maintaining the infrastructure required for back-office tasks is not only time-consuming but can be expensive.
You will need to factor in investment in technology, software, labor costs, ongoing training, and labor costs.
In fact, Deloitte’s 2020 survey shows that the top reason for outsourcing is to reduce costs.
Outsourcing back office tasks allow you to leverage a well-maintained infrastructure in addition to saving costs related to training, office overhead, hiring, and technology investment.
Focus on your core tasks: As a recruiting firm, your focus should be on achieving the goals you had in mind when you set up the business. Back office tasks such as payroll management, accounts, and tax compliance can easily eat up into your time.
Not surprisingly, for most companies, the key driver for outsourcing is the ability to focus on their core business functions.
Expert workforce solutions providers offer a wide range of back office solutions including:
- Payroll administration
- Risk & Safety
- Tax compliance
- Staffing and recruiting
- Technology solutions
- Workers’ Compensation
Outsourcing back office tasks to the right partner helps you channel your time and budget into your strategic priorities. If you are looking to scale your HR firm, outsourcing offers you the time and flexibility required to do so.
Reduce errors: While studies differ as to the exact amount that can be saved by outsourcing, it is believed operational inefficiencies cost companies anywhere from 20 to 30 percent of their revenue.
Back-office outsourcing allows you to access skilled people who have the training and the tools to provide quality services. This reduces the risk of errors in your back office processes that can end up impacting your bottom line.
Access expertise: Not every staffing expert is well-versed in all aspects of running a business. Most entrepreneurs struggle with accounting, payroll, tax compliance, and other back-office tasks. According to the SBA (Small Business Administration), accounting is one of the most commonly outsourced tasks. Outsourcing to the right back-office solutions provider will also mean you can benefit from their expertise in:
- Leadership Consulting
- Business strategy
- Restructuring strategy
- Branch management
- Talent Advisory Services
- Legal and Compliance
Back office solutions tailored to your needs
If you are looking for a range of expert business solutions tailored for staffing firms, you can rely on Staffing Management Group. We not only take care of all your back-office tasks but offer business consultancy and risk management services to help you take your staffing firm to the next level of success.
Get in touch with us to know more about our offerings.