Outsourced payroll services: Suitable for what type of business?
Outsourced payroll services: Suitable for what type of business? How to choose the right payroll service provider? Outsourcing payroll services is increasingly popular in Vietnam
Outsourced payroll services: Suitable for what type of business? How to choose the right payroll service provider? Outsourcing payroll services is increasingly popular in Vietnam
New Year NIC Group. A starting journey in the Year of the Dragon. In the bustling atmosphere of the lunar new year, the Spring party
Payroll services in Vietnam are the top choice. By using this service, businesses will reduce the paperwork burden and receive valuable advice on issues related
On January 19th, 2024, NIC GROUP organized the 2023 year-end party for all employees. The Board of Directors and NICers from offices and factories nationwide
NICers and their families had time to bond and cherish Christmas party moments. The party was filled with warmth, joy, and contagious laughter, despite the
In today’s rapidly changing business environment, an efficient and effective organization wins, and that means having people who fit your needs perfectly when you need them. As a leading company in Vietnam operating in the field of HR consulting and providing HR outsourcing service, we can help you find, evaluate, hire, and manage your workforce and make sure you have the right people for your upcoming projects, filling the temporary vacancy, meeting seasonal requirements and reducing your workforce during slow periods
Contact us to see how NIC Global can save you time, money, and find you highly qualified employees ready to do the job
In a nutshell, outsourcing is an accepted management tool for restructuring and refocusing the way an organization does business. It challenges management to build a more flexible organization centered on the core competencies of the business. In making the determination that a business has more to gain by having certain “non-core” aspects of the business outsourced to a third-party service provider, the organization transfers responsibility for one or more activities or functions that would normally be performed in-house to a qualified vendor, for a specified period of time and at a negotiated fee, in accordance with terms stipulated in a service level agreement (SLA). In essence, the organization is making a decision to send certain parts of the business out to a provider whose “core competency” is that part of the business.
In the past, HR outsourcing was thought of as hiring a vendor to provide a service. With the new focus on outsourcing, there is more of an opportunity to partner with the vendor to provide the service on a longer-term basis rather than just a one-time vendor contract. HR outsourcing can include:
Discrete services: In this instance, one element of a business process or a single set of high-volume repetitive functions is outsourced to a third-party administrator. Examples of discrete services could include the annual open enrollment process, flexible spending accounts or employee background checks.
Multi-process services: The complete outsourcing of one or more functional human resource processes would be an example of multi-process outsourcing (also called blended services). As such, the outsourcing of either health and welfare benefits administration or payroll administration, employment contract to a third-party administrator would be an example of multi-process or blended services outsourcing.
Total HR outsourcing: Total HR outsourcing represents the transfer of the majority of HR services to a third party, including recruitment, payroll, HRIS, benefits, compensation and communications, as well as the transition of HR management and staff. However, HR executive management would normally remain in place within the organization, along with strategic planning related to people management and other key HR functions at the discretion of management.
According to a recent study on HRO in government organizations, while HR outsourcing in the public sector is significantly less common than in the private sector, the rationale for outsourcing is essentially the same. Three basic financial drivers behind HRO are noted:
HRO is not just about cost savings. HRO is, in many ways, forcing a change in how HR does business by making HR business leaders refocus on what is important to the organization. For those organizations serious about getting out from under the yoke of transaction-based HR processing and reaping strategic value from the HRO process, repositioning HR within the organization through multi-process or second-generation HRO means that:
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