Business Advisors are the service providers who are skilled experts and provide consulting services to offer hands on practical help, advice and support in specific business areas that will help make a difference to business success. Their services mainly focus on strategizing for taking the business to new level.
Advisors mostly belong to business coaches, mentors and accountants. To examine previous trends of business and then to combine them with forecasts, a great advisor will ask questions and dig deep into their clients’ businesses. The main goal of the talented professionals is to provide cost-effective, value-added solutions to improve the financial position and operations of your business. The most general form of business advisory services covers the following:
• Budgeting and Cash Flow
• Advisory set up for accounting.
• Advisory and liaison solutions for startup businesses.
• Specialized solutions for financial bodies and institutions.
• Business Improvement and Transformation
• Buying or selling a business product
• Software Selection
• Business Monitoring
Outsourcing HR for Small Startup Business can Increase Productivity
For most business owners it is a major challenge to manage and the cost of having employees. It takes a tremendous amount of time, money and effort for managing employee paperwork, and several additional costs. Now, let’s calculate how much time and investment does your staff dedicated to HR related work and how often did you find yourself in the dilemma of exceeding the budget.
Here are five simple ways that HR outsourcing can save your overall investment and increase your productivity :
1. Redistribute Your Employees’ Time
2. Reduce your liabilities.
3. Recruit most qualified and deserving talent
4. Reduce the Cost of Labor
5. Reduce Employee Turnover
Target Talented through Headhunting
Headhunting also known as Executive Search proactively recruits top performers to fill executive positions in organizations. Head hunting can be done through following methods:
- Headhunting is done through research of wide variety of industry contacts. From that pool of database identify the prospective employee.
- At first calling session is held over phone and then query is done if he is interested for a job switch for that particular position.
- Then after calling session done then the candidate is asked if he is interested or not. If he is interested then meeting is fixed for a formal discussion. If he is not interested then again the same process repeats once again to look for other prospective candidate.
- For the interested candidate job offer is given and other terms and conditions about the company are discussed. Then suitable timing is given to candidate to submit various necessary documents and to join in a specific date.
Background Check of Employees
The process to get a clear and genuine picture of a candidate irrespective of the information shared by the candidate during the interview is defined as pre-employment background screening. The background check and screening is needed to review a candidate’s criminal records, identity checks, driving records, drug and health screening. With the help of this an employer can select an applicant who are not only qualified for the position, but also has the ability to become a long term investment for the organization.
Reasons behind this background check:
Relying on a candidate only on the basis of their resume can results in a disastrous decision. What if:
- The candidate that is being hired for an important role in the company’s future didn’t even earn the required qualifications or degree as they described on their resume.
- A candidate has a criminal background like thievery, embezzlement, or some other kinds of offensive involvement in past company – and you’re about to entrust them with payroll funds?
- This candidate has past issues of getting sued because of doing misconducts like harassment, creating chaos in the past company and you are not aware of the situation. You may consider liable for negligent hiring as you haven’t check the details before hiring.
For this reason a thorough background is mandatory. It will help you to get the real scoop on job candidates. But background checks need to be conducted carefully and legally.
Training Guarantees Good HR Manager
The human resources department has to operate a number of functions within the organization, including hiring, training, monitoring certain policies and even handling disputes. In addition, the human resources department need to keep company employees to stay updated on company’s laws and policy. Therefore, it is vital that all human resource managers get the appropriate training. Human resource management training is very essential for the team leaders who support all levels of management. This will help them to develop their knowledge and expertise areas in their respective fields.
What are the primary reasons for training in an organization?
- Increased productivity and adherence to quality standards
- Increasing organizational stability and flexibility
- Reduced supervision and direction
- Economical use of resources & Heightened morale
- Increase in productivity & Better industrial relations
- Role & career flexibility & Reduced learning time
- Future manpower needs
- Reduced accidents at workplace
- Globalization & speed of change
- New appraisal techniques
- Reduction of errors
- Reduction of turnover and absenteeism
To avoid any legal claims/dispute, the Manpower.com.bd, would stress upon the employer and the candidates to sign a Foreign Service agreement. This agreement is usually in line with laws if any, operating in the country of origin as well as employment. In addition, this document can include any special condition(s) that may be prescribed by the employer within the legal framework of the country of origin or employment. In the area of human resource recruitment, the Manpower.com.bd renders the following professional services to its foreign employers and recruitment firms:
- Provision of resumes from office.
- Resumes from the applicant and send to the employers upon request.
- Designing and placement of advertisements in leading newspapers. (National News papers)
- Receipt and short-listing of applicants.
- Calling candidates for interviews.
- Facilitating the interview process.
- Testing and security clearance.
- Verification and authentication of certificates.
- Medical examination by authorized Medical Officers.
- Visa endorsement by respective embassies.
- Ticketing and reservation of passage.
- Pre-departure orientation and briefing.
Our company has established its own full-fledged training class run by a senior professional expert. Classroom lectures, role-play exercise and assignment specific training carry out training. Based on experience on the basic guarding skills, they are taught the rudiment of First Aids, Fire Fighting and self-defense. Industrial and commercial security training is also conducted to cover client’s specific requirement.
Payroll Processing Through Outsourcing
Payroll processing mistake is not a slight mistake that can be overlooked. It is the reason why employees work in a company. For this reason a single mistake in payroll processing can lead to serious consequences.
Take a look at these five common payroll mistakes that companies face generally:
- Paying the wrong amount
- Improper Overtime Payments
- Processing payroll late or not at all
- Overlooking government holidays
- Depositing and reporting employment taxes incorrectly
- Misclassifying employees as independent contractors
- Filing Incorrect Employee Details
- Failure to maintain proper payroll records
- Breaches in Confidentiality:
- Underestimating Human Error
The above reasons are enough to convince business owners to outsource payroll to an external service provider. Running an in-house payroll is a huge hassle for smaller companies, and even for business without HR and accounting professionals on staff. Outsourcing is the best method to avoid the need of hiring additional employees or contracting with specialists.