Human Resource Outsourcing (HRO)

[ˈhjuːmən rɪˈzɔːs ˈaʊtsɔːsɪŋ]
Definition:

This is contractual agreement between third party service provider and an employer, in which the employer shifts certain HR functions, such benefits or training related responsibilities to the external provider.

Why HR Outsourcing is important?

Support & Compliance

Expansion of a business into a new market or region demands conformity to local tax and labour rules that differ from region to region. Hiring a competent outsourcing firm help assure law and regulatory compliance in the HR processes.

Security of Data

When working with sensitive information, data security is critical. In order to keep the data secure, outsourced HR providers use advanced security systems and software encryption.

Cost-effective

When an organization outsources HR tasks, it eliminates the need to hire skilled workers. In addition, it rules out the need to organise training for new employees. This improves work efficiency and quality along with cost savings.

 

Part of speech:
verb
Use in a sentence:
Our business needs Human Resources Outsourcing.
Human Resource Outsourcing (HRO)