HR Outsourcing: Your Key To Success

A recent study has shown the minimum time taken by small business owners to spend on HR administration, government requirements and employee concerns to be 20% - 40% on an average (Small Business Administration). HR Outsourcing offers flexibility in spending money for hiring and retaining talent within the organization. Competitive HR consultants are particular about fostering growth, giving employees a fruitful opportunity to complete tasks and build lasting relationships with their fellow colleagues and bosses.

56% out of 169 companies surveyed by the society of Human Resource Management (SHRM’s – a global HRM association) has reported to have chosen HR outsourcing services to cut down costs and let them save up to 35% for their future growth. The remaining percentage out of 169 companies around the world, have chosen to reduce HRM costs within their organization.

In addition, if the small firms opt for HR outsourcing from the start, then it reduces additional costs of experimenting with bad candidature as well as in-house HR costs. HR recruiters also offer an array of services to grow your business. Some of them are:

Organization Design -

• Strategy Articulation
• HR Process Audits
• Defining/ Reviewing/ restructuring Organization structure

Role Design –

• Job Analysis and Design (Documentation through Job Descriptions)
• Clarification of account abilities and design of decision making process
• Job Grading/Banding

Talent Management:

• Competency Framework Design
• Talent Identification & Development
• Training Need Identification
• Design of Career Path Framework and Succession Planning
• Mobility & Deployment
• Talent Strategy & Analytics
• Strategic Workforce Planning and Optimization

All these services bring about a harmonious work environment that initiates stable outcomes for all involved within the organization. Former Apple CEO – Steve Jobs once said, “When you’re in a start-up, the first ten people will determine whether the company succeeds or not. Each is 10 percent of the company. So why wouldn’t you take as much time as necessary to find all the A players? If three were not so great, why would you want a company where 30 percent of your people are not so great? A small company depends on great people much more than a big company does.”

To sum up, the benefits of hiring HR outsourcing Firm might exceed the following:

• Cost Reduction
• HR are more strategic and focused
• Initiation of Quality services
• Less burden on lower management
• Streamlines HR functions

Are there any risks? Let us estimate:

• Hidden or unexpected costs
• Organizational reluctance
• Service cut offs
• HR vendors failure to deliver
• Transformation in HR business
• Other vendor management issues

Despite of all these risks, why must one choose Human Resource outsourcing services?

• It is a great service that minimizes your business risks
• Unnecessary cost reduction
• Creating a positive competition among peers
• Streamlining management and payroll services to improve & motivate staff
• Protects companies from employee’s litigation
• Reduce the lower management’s work load
• Help in meeting business meetings more effectively

This leaves enough room for in-house HR and other staff to concentrate on their designated tasks and grow with determination of achieving their career milestone within the company.

Content Source: http://www.impeccablehr.com/hr-outsourcing-your-key-to-success/

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Great Executive Search Consultants are for all businesses

The search for a great employee requires more than Google search knowledge and candidate calling expertise. An executive search consultant can assist in finding the right match as required, ranging from mid to high level executive roles. They draft job descriptions, use their professional network to search for references, call up candidates and conduct interviews for the hiring firm. Big brands have been hiring executive search firms for all job fillings, but nowadays it is not an expensive deal to hire HR consultants by small firms too.

Back in 2008, Executive search industry saw a low revenue accumulation, however, it took up pace from 2010 and joined the multi-billionaire club unfaltering till date. Every year, HR Capital industry surveyed a growth of 10.7% salary increment in BFSI and Automobile industries (as apparent from Deloitte’s survey of FY 2016).

The cost of a bad hire is more than a firm can anticipate. In terms of time, money and expertise, a bad hire can ruin the slightest hope for growth in small businesses. Even though, big companies can afford to make experimental mistakes, time never stops for anyone. A crucial need of the hour can be fulfilled by outsourcing team, as relevant with a consistent hiring data.

For any type of business, a critical position that decides the destiny of a corporation needs a lot of substantial thought, HR expertise and execution ability. Some firms choose their in-house team to do the needful in order to save a bit of money. But that doesn’t eradicate the underlying risk of making a bad choice. Top Executive Search Firms have market leadership in knowing where the talents are and make use of their strong professional database to choose from a pool of at least 150 qualified professionals.

In addition to sourcing job seekers, best HR consultants are instrumental in understanding your long-term business needs with that of the recruitment they are screening for. Alignment of both the candidate’s future goals with that of the company is very essential. They not only write relevant job descriptions, but also decide the kind of criteria a candidate needs to fulfill through his or her portfolio & communication skills to get the job.

So, what does the best of the lot, you need to check whether executive search consultants are also retained firms who initially possess a good market reputation and can do the job quicker than expected. Once, you are assured about their service offerings which may range from role designing, organization designing, in-house HR assistance to training & development of candidates, you can be rest assured about the hiring process.

Content Source: http://www.impeccablehr.com/great-executive-search-consultants-are-for-all-businesses/

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HR Advisory Services Is Crucial To Your Business. Learn Why!

For all types of businesses, there are many advantages in hiring HR Consultants that act as a catalyst to yield profit through effective placements all through the year. Companies gain by hiring HR professionals on hourly or contract basis. With statistics showing a salary hike of about 10.7% by FY 2016, (according to a survey on HR industry for Nasscom Competency Frameworks) it is apparent that HR outsourcing has been a trend for many years & will continue to rule the global marketplace.

Hiring Benefits

If you need to decide on recruitment or administration, HR Consultants can advise you on what it takes to hire the right candidates. Role designing, organization designing, reward management, employee retention, talent management, HR transformation, Custom designed training are some of the services offered by HR professionals. Especially for small businesses, recruiters can help save money by avoiding ineffective recruitment strategies.

Dispute Resolution

HR Consultants can assist in mitigating employee grievances by recording formal and informal complaints, communicating with concerned people and initiating a change in employment practices. The immediate advantage of having an outsourcing team is that they preserve the integrity of the firm & the investigations related to it. In addition, HR Advisory services can save the company a whole lot of legal stress on external or internal matters. They can advise you on how to avoid risks on employment or employee related issues.

Professionalism

According to Deloitte’s Human Capital Consulting Survey for FY 2015-16, the main reasons for attrition are better pay, better career opportunities and better work-life balance. Hence, there is more than one reason to retain existing employees and place new employees in global industries. Outsource team can help in Executive Search for C-level to mid-level executives and place them with a good salary package in BFSI and Automobile Industries. These are the two industry sectors that are providing maximum salary hike, especially in India. HR Consultants continually upgrade themselves on market trends and provide high-quality services to global clients.

Outsourcing

HR Advisory service provider help you decide whether you should hire a payroll and benefits administrator as well as weigh the outcomes of hiring outsource provider. In case, your outsourcing HR Team is helping with the in-house HR practices then you have a golden chance of saving money and time on other recruiters or agencies. Hence, Human Resource Advisory services are quite beneficial for your business that includes your employees.

Content Source: http://www.impeccablehr.com/hr-advisory-services-is-crucial-to-your-business/

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Here’s Why You Should Consider HR Consulting Services

Human Resource Consulting Services are a part of the big picture today. Numerous companies want to hire talented individuals and HR Consultants help in meeting the gap. From small to large scaled businesses, a silver lining of profit margin acts as an employment booster. Mostly, the technological revolution of the modern era acts as the catalyst for bulk and leadership hiring.

5 points can really help businesses create the atmosphere they want, here’s how:

1. Outsourcing – Top HR Consultants offer outsourcing facilities to numerous organizations on a daily basis. They act as an extension to existing HR department of the hiring company. They undertake Talent Mapping and other scientific techniques and are well- adept in providing talent management, role designing, reward management, managerial or leadership training services.

2. Benefits Administration - HR personnel designated for benefits administration are always a plus point for hiring companies that include its employees. Human Resource executives can handle health and benefits in a professional and compassionate manner. They provide a consulting group for benefits or insurance providers after looking at your financial budget. Your own HR department can handle on bigger operations within the company while the outsourcing team provides holistic and employee relation management assistance.

3. Using Smart Technology - HR outsourcing can proliferate the integration of new technology that is compulsory for national and international HR prospects. The professional group will provide your existing HR department full assistance on using the new technology by organizing periodic trainings and maintenance assistance. If you are looking for the long-term and want to take your company to the next level, now is the time to consider best consulting firms.

4. Money Management - A lot of expertise is required to manage tow resources of a firm, namely people and money. Both are assets to a company. HR consultants help in implementing reward programs to initiate a motivational factor for employees to work better. This lets them work with a set goal of achieving reward or recognition and produce more capital for the company. Hence, HR professionals are a must in planning & managing money based decisions for you.

5. Keeping the Communication lines open – HR professionals can help you identify the best qualities of your co-workers or employees. They closely examine the attitudes and behavioral approach of certain individuals to reinforce positive vibes. In a potential work conflict, they act as a soothing balm and can help mitigate issues. For them, open communication is the key.

At an age where the internet has its own language and everybody demands a good job, it is not only necessary to recruit, but also preserve the best ones to beat the global competition. Only two things can define you except your services or products – Employees and Money. Hence, choosing the Top HR Consultant with a good reputation in the market wouldn’t be a bad idea.

Content Source: http://www.articlesbase.com/human-resources-articles/heres-why-you-should-consider-hr-consulting-services-7396593.html

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5 Ways Top Recruitment Firm Will Help You Get the Right Candidate

Hiring the right candidate isn’t a choice but need. One wrong decision can cost employers in productivity, finance and reputation. In today’s transparent world, where communication plays an active role in joining hands, human resources recruitment firm can let you ascertain whether you are choosing the right profile.

Here are 5 ways that HR Recruitment services can help you in:

Knowing who’s who

The best HR consultants keep their ears on the ground for inconsistent market trends & provide insight to their own team on latest developments. They are mostly aware of talent availabilities, how to reach or check backgrounds, current industry offerings, available skills, hiring challenges to aid any organization expand with a pool of enthusiastic resources. If their in-house recruitment team fails to address tight schedule placements, outsourcing team can use their investigative skills to find alternative solutions. A good recruitment team becomes a business partner in the long run.

Going out of the way

Sincere candidates will not confuse the whole process of recruitment. Some of them attend interviews, but are not interested to join the companies. Outsourcing team has expertise in checking out the right candidates and placing them in apt roles. They keep their finger on the pulse on all candidate activities. Profiles which seem to be inactive for more than 3 months on job search do not hit their contact list. Top recruitment firms work in a network wherein they know where potential candidates can fill the roles and consult them accordingly. They are the valuable collaborators who create a bridge of communication between you and the candidate. In-house recruiters often choose the internet rather than a network for recruitment purposes.

Candidates versus applicants

A lot of recruiters attract applicants rather than candidates. There is a thin line of difference between the two terms. Applicants are the ones who respond and appear for the interviews but candidates are the ones you would like to see taking the interview forward. Planning, assessing, communicating and matching profiles consume time and efforts if the end result is not certain. In HR language, a bad candidate could be an applicant who couldn’t make it. Inexperienced HR professionals cannot stand firm in the competition of recruiting within a given timeframe. A job seeker agency can let that work much easier for the hiring company and themselves, thanks to their skill set.

Shaping your business

Large organizations invest a lot of money and time in training, development and marketing their own brand, whereas small businesses cannot afford the same resources to reach the right people. Choosing a recruitment firm wisely will ensure a smooth hiring process wherein your applicants would be knowing what they are getting into, where they can see themselves in the future within the company, sense the working culture and get a brief insight into what you do. Let your recruitment firm spend some time with the leaders of your company to know how to represent yourself as the employer of choice. Any queries related to your company can be addressed by the HR Consultants you wish to work with.

When it’s all about budget and Key-skills

As apparent in recruitment survey, firms are looking for quick solutions in less budget. External agencies are used to utilize budget and resources in a short time period. To hire an agency it takes less money than recruiting extra resource. Surprisingly, many hiring managers prefer third party recruiters for effective solutions. There is no doubt that in-house recruiters have a lot of limitations that external consultants can leverage for.
However, every hiring company have their own set of rules and reasons for hiring. For some, it’s a temporary staffing solution, for others it’s a long term growth plan. What makes their strategy similar is the fact that recruitment lets them monitor staffing costs and increase manpower.

Content Source: http://www.impeccablehr.com/5-ways-top-recruitment-firm-will-help-you-get-the-right-candidate/

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6 Things To Consider Before Hiring an Executive Search Consultant

Executive Search Consultants practice unique methods of offering client relationship management, talent acquisition, benefits management and market analysis services that foster the growth of Hiring companies. Most in-house HR departments of hiring companies are responsible for administration and to manage salaries, payslip distribution, building business and sending significant announcements via email to employees. However, outsourcing team is well-adept in handling hiring issues from top to mid-level executive designations, especially when there is a tight deadline. A wrong recruitment might cost a lot more than the initial compensation of the HR consultant.

So, here are six things to consider before hiring an Executive Search Consultant:

1. Understanding your Outsourcing needs: It is important to understand that HR outsourcing saves your company’s valuable time in headhunting, especially in C-Level which requires a lot of planning, research, reference check and strength of the professional network.
2. Industry Specific Recruiters: Time utilization and profile handling expertise, keeping the hiring company’s long term goal in mind is the plus point of hiring recruiters who have an experience in your industry.
3. Flexibility in Assigning recruiters: For a specific task, you might want to utilize the skills of one recruiter at a time instead of many as they might cross roads and make the job confusing. You have the upper-hand to decide the hiring process as per candidature and requirement.
4. Interview the Interviewer: Yes, you need to ascertain whether the HR Personnel lives up to your requirements by taking a small interview. This way you will be able to ascertain whether you can hire him/ her for the short-term or for a period of over 6 months.
5. Choose the best of the lot! If you are looking for a stable and long-term association with an HR Consulting Firm then you need to dig their background history, experience in your industry, closure details per year and client feedback to be able to decide.
6. Know the difference: Executive Search Consultants provide you customized hiring and HR solutions unlike employment agencies in the market.

The growing competition in between organizations due to the technological convergence has paved the way for smart recruitment at low cost. Companies are now focused on implementing a customer centric approach for their long-term benefits. The demand forTop Executive Search Firms is not out of reach as HR professionals have evolved with the changing times and has adopted new methods of selecting talents. Interestingly, HR solutions aren’t just one way as managers and CEOs are convinced with their consistent placements in branded firms. For senior executive hiring, a company must retain industry experts who have an experience of over 5 years. Apart from fulfilling the 6 points mentioned above, the Executive Search Firm must be able to perform on 3 main principles of hiring: Identification, Evaluation and Closing.

Content Source: https://impeccablehr.quora.com/6-Things-To-Consider-Before-Hiring-an-Executive-Search-Consultant

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6 Ways to make your work life happening!

Stop being calculative: When you are working with an organization and staying there for major part of your day, you are supposed to pour your heart out to every task you do. We have to stay there for 8-9 hours, there cannot be an escape, then why not utilize it fully for learning, exploring and accomplishing our best.

Time killers: Every organization contains some specific lot of people, who are more focused towards not-so-important issues rather than their work profile. They mostly spend their day gossiping, cribbing, complaining or having juicy discussions about personal lives of other colleagues. Naturally they have no personal development goals and pretend  to be the most ideal human beings present, our suggestion is to ignore such people politely .If given choice spend your valuable time talking to  great minds of your organization who can actually refresh your brain .

Personal Development: sometimes we come across  some opportunities in return of which we are not getting much rewards. Don't think about monetary gains just measure it up on the learning and excitement meter and if it scores well, just go ahead.

Free yourself: Remember one thing you are not bound to anyone or answerable to any outsider about your life. You always have a choice to whom you want to talk or give your time to. Don't make yourself available to each and every person, prioritize your important people. Your life is not meant to establish relation with every person, It's about nurturing your important and close relations.

Have a life outside: Do you know what the most painful emotion is?-Regret. Life is what you are having in the present moment, neither past nor future. Do spend your time taking up your favorite activities either cooking , reading, taking vacations to unexplored places, dancing , singing anything you love , plan now and save yourself from Why-didn't-i-do-that feeling.

Digital Detox: Spend at least one day without your cellphone and laptops in a week. Try to meditate in open surroundings or absorb the positive vibrations of nature by just walking or sitting in green areas. It will do wonders to your creative thinking.

Content Source: http://www.impeccablehr.com/6-ways-to-make-your-work-life-happening/

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Customer Centricity is the Ultimate Requirement in BFSI Recruitment

In the world of Banking and Finance, Customer Centricity plays a vital role in transforming a corporate bank into a customer-driven organization.

Over the years, Banking sectors have followed the thumb rule of making their immediate account holders happy. This practice is now recognized as “Customer Centricity”.

In practice, “customer centricity” revolves around taking collective actions to improve service offerings based on customer feedback and behavior. The old adage – “Customer is King”, seems to be the motto of banking firms, especially in the 21st century. The DNA system of the firm is aligned to the core requirements of customers.

To achieve customer centricity, one needs to apply good listening skills and take customer feedback positively in order to improve their business strategies.

Why Customer Centricity is important?

BFSI Industry is fragmented into local and regional branches and face constant competition from multinational units. Some of the payment options like PayPal, We Pay and Google Wallet also impose pressure on their day to day service offerings.

After the worldwide recession in 2008, which shook big conglomerates and changed the way banking operations were undertaken, downsizing mortgage demands and customer behavior that concentrated on a more ‘secured’ approach by choosing multinational banks instead of local ones; the scenario was that customers were greeted informally.

Customers are now aware of different banking options that can help them lead a tension-free life for themselves. A multinational credit card holder opts to keep savings and checking accounts separately for the sake of convenience as well as security. Flexible interest rates have made the customer apply for a home loan with a regional bank or a well-known group of company offering easy loans in exchange of assets.

A customer centric approach helps all types of banks to address the underlying issues of customer grievances and find out a way to mitigate those issues in a tactful manner. The solution often transforms into a ‘winning strategy’ for the bank. Moreover, customers have changed their way of preference from drawing a cheque in a queue physically to transferring money online. People who carried two-three credit cards, now have opted for maximum two. Banking mobile applications have made their transactions convenient and hassle-free. They no longer want to depend on call centers to address their queries or visit their local branch due to a busy schedule.

In order to gain customer satisfaction, banks must concentrate on building 3 things:

Organization, People Power and Technology. Among the three, people power ascertains how their customers are going to be treated. For example, a banking officer who understands the importance of maintaining credit score and counsels for debt-recovery is a valuable employee for any banking institute. Impeccable HR Consulting P. Ltd offers BFSI Recruitment Service to all-sized banks who create value through their own human resources and are interested to adopt the “customer centric” approach for the long-term benefit of all involved.

Content Source: http://www.impeccablehr.com/customer-centricity-is-the-ultimate-requirement-in-bfsi-recruitment/

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