Outsourcing means signing a contract with a third-party company stating that they will help you in specific jobs and fulfill your requirements in exchange for a fee. Similarly, HR outsourcing Singapore means that a company will hire another hr firm to help them get an employee.
Why would a company need HR outsourcing?
Hiring a person into a company doesn’t take place that often. Hence, having an HR team within the company means that you will have to pay constant salaries to people who are not even productive.
Therefore, companies opt for HR outsourcing where they hire an hr firm for a particular time wherein the firm searches people for the company and helps the company hire them. The firm acts as a communication medium between the company and the candidate.
Method of function
- The firm first looks for portfolios and profiles that match the company’s requirements.
- They then send relevant profiles to the company that chooses profiles they like. The firm often charges some amount of money at this stage.
- They then contact the candidate and set up meetings between them and the company.
- If the company likes the candidate, they are hired, and the HR firm gets the rest of the payment, which often depends on the salary of the hired person.
Benefits of HR outsourcing
- Allows the already hired employees to focus on revenue-generating jobs
- Provides reliable means for finding someone qualified
- It helps save money by having to pay the firm only when they help the company as opposed to a regular salary.