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HR services industry to experience substantial growth

Posted on September 3rd, 2014 Read time: 2 minutes

The popularity of HR outsourcing services is growing rapidly. These companies offer small- and mid-sized business the peace of mind knowing that back-office functions are being handled professionally so that continued focus can be put toward growing the business and generating more bottom line revenue.

In a recent article from WhaTech, citing data contained in the "Global Human Resources Outsourcing Market" report from Research and Markets, the market valuation of outsourced HR practices is set to expand at a compound annual growth rate of 12.34 percent over the next four years. Not only is this news a positive for the industry itself, but it also shows the value of these services for companies who need HR management services but would also like to maintain a low overhead.

For companies considering outsourcing their human resources functions to a third-party vendor, there are several key considerations that need to be made. Market Press Release listed a number of them, the most important of which is ensuring that the organization has a stellar reputation in the marketplace.

Talking to other businesses that have used an HR outsourcing company's services before is a great way to tell if the correct choice is being made. Another suggestion offered by MPR is to ensure that the organization has experience doing the job that they are advertising for.

Many small- and mid-sized companies have different policies and procedures in place. It's important to make sure that an HR outsourcing organization has experience in dealing with clients of all sizes, not just one.

If chosen correctly, these services can be a huge asset for the businesses that employ them. The need doesn't appear to be slowing any time soon as more companies will continue to hire organizations to manage all of their back-office functions.

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