Benefits of Outsourcing HR – Business Leader Priorities of 2023

On part two of our three-episode series, host Rob Parsons and Stu Richards, CEO of Bredin, dive deeper into the findings of our 2023 Paychex survey “Priorities for Business Leaders.” Hear what they learned in the research about how businesses are handling HR administration. Learn more about the amount of time and money leaders are spending on HR functions, the challenge of attracting and retaining talent, managing ongoing regulatory compliance, and why businesses decide to outsource HR.

Topics include:

00:00 – An introduction to Stu Richards and Bredin
00:52 – Time spent on HR administration
04:49 – The value cost of time spent on HR administration
07:12 – Top HR administration issues in the next year
08:11 – Struggle with compensation and benefits
08:58 – Challenge of attracting and retaining talent
09:36 – Challenge of developing talent
10:14 – Managing ongoing regulatory compliance
10:35 – Why businesses outsource HR administration
13:19 – How outsourcing HR administration can reduce costs
14:06 – Episode wrap up

Learn more about the benefits of outsourcing HR at www.paychex.com/articles/human-resources/benefits-of-outsourcing-hr-solutions-for-small-business.

Read the full report about the 2023 priorities for business leaders at https://pages.paychex.com/priorities-report.html.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.