Small and medium businesses (SMBs) have long turned to outsourcing certain business operations in an effort to reduce liabilities and management burdens. Nowhere is that truer than with payroll and human resources services, where efficiency and expertise are a must for any business looking to survive in today’s complex regulatory environments. According to the Journal of Accountancy, some 47% of businesses in the U.S. outsource payroll operations, showing that businesses have become comfortable with the concept of handing off payroll operations to an outside firm. Much the same can be said for human resources (HR) operations, where according to A2Z Market Research, the global market for HR outsourcing is expected to have a compounded annual growth rate (CAGR) of 24% from 2019 to 2025.
Realizing the Value of Outsourced Payroll and HR Services
