There are several benefits of hiring an HR agency to manage various HR functions for a company. Here are some statistics that support these benefits:
Cost Savings: According to a survey by the Society for Human Resource Management, the average cost-per-hire for companies is $4,129. Outsourcing HR functions can help reduce this cost significantly. A study by the National Association of Professional Employer Organizations found that companies that outsource HR functions can save up to 32% in HR-related costs.
Expertise: HR agencies have specialized knowledge and expertise in various HR functions, including recruiting, benefits administration, compliance, and employee relations. According to a survey by CareerBuilder, 57% of employers who use staffing firms say the main reason is to access specialized recruiting expertise.
Compliance: HR agencies can help ensure that a company is in compliance with all relevant employment laws and regulations. According to a survey by ADP, 23% of small business owners who manage HR functions themselves are not confident in their knowledge of HR regulations.
Time Savings: HR functions can be time-consuming and can take away from a company's core business activities. Outsourcing HR functions can help free up time for business owners and managers to focus on other areas of the business. According to a survey by Robert Half, 63% of business owners said they would use an HR agency to save time.
Recruitment: HR agencies can help companies find qualified candidates quickly and efficiently. According to a survey by Bullhorn, staffing firms fill job openings 50% faster than companies that do not use them.
Overall, hiring an HR agency can help companies save money, access specialized expertise, ensure compliance, save time, and streamline the recruitment process.