Human resource management and recruitment services is one of the major part of business services market. Human resource services are provided both in-house and as an outsourced service. HR services involve recruitment, development and retention of talent and outsourcing personnel-related administrative functions such as payroll and employee benefit administration. Of all the services, recruitment is the core HR function which involves selecting skilled resources based on the employer’s requirements.
With rising employee turnover and HR related costs, companies are constantly reviewing their business strategies to outsource HR services to ensure placement of talented and skilled employees in appropriate roles. In addition to attain cost effectiveness, human resource outsourcing (HRO) is also sought by companies to improve operational excellences.
Among all the business functions, payroll is the most outsourced function due to the level of accuracy required. HR benefit administration is another commonly outsourced function due to its high level of complexity. This could be attributed to rising healthcare costs, technological advances, compliance with various regulations, wellness and health plans and retirement welfare.
With growth of smartphones and social media activities, HR companies are incorporating mobile and cloud technologies to optimize their service offerings. They are also using mobile friendly career websites and apps for online recruitments. Such online recruitment tools give companies insights about employee behaviour, career information and enhanced connectivity with candidates while employees can enjoy easy access to numerous job opportunities.
ASDReport.com provides a plethora of reports on human resources industry. Numerous reports are available on applicant tracking systems, human capital management, future labour force and among others.