Globalization and the Future of Outsourcing
In today's world, globalization amongst small to mid-size businesses is growing in popularity, and is not a trend only for large multinational companies. PEO's focus on building strategic partnerships with numerous vendors across a wide array of business services. However, each service offered by a PEO such as: human resources, payroll, benefits, etc. are all processes that contain within each many sub-processes that business executives can outsource to a business process outsourcing provider (BPO's).
While very similar to a PEO, business process outsourcing providers can concentrate on the minutiae that makes up many of the sub-processes for PEO services. By outsourcing low value added activities to international markets through more cost efficient business process outsourcing providers, organizations can lower internal costs while enhancing the PEO's core activities. There are several considerations business executives need to think about before hiring internationally.
Once the leadership team at a company has decided outsourcing to a lower cost international market is viable, they should review the "getting started" section in the PEO Insider article below to determine the best course of action and launch strategic initiatives. All in all, by outsourcing many of the sub-processes for PEO activities such as: payroll entry, benefit reconciliations, filling out prospect applications, etc. to business processing outsourcing providers, businesses can reduce internal costs and increase the effectiveness of their PEO program.
Globalization and the Future of Outsourcing
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