In a recent study conducted in the APAC Region, it was concluded that by 75% of the C-Suite leaders in Singapore believed that Singapore would be hardest hit by talent shortages in the next three years as compared to 61% of C-Suite leaders in the APAC region. These C-Suite Leaders had the opinion that in their own organizations the HR department did not sufficiently engage in the fight for talent which could be the result of the focus taken away by HR administration tasks at hand.
There is no doubt that the labor and talent shorting in Singapore will only get worse in the future and with that, is an increasing pressure from the top management to place more focus on quality talent acquisition, people development and retention to be in line with business strategy.
However, when the HR department’s core role is to provide operational services such as maintaining HR Payroll systems and providing internal employee support and services, this can be quite difficult to reconcile with the strategic plans of the management team. Furthermore, there is always the never-ending challenge of obtaining and maintaining departmental resources to keep up the HR database system, payroll, leave and claim software while providing payroll services that comply with statutory requirements and producing lots of management reports etc.
Outsourcing to a company that provides high quality HR and payroll services is an option that being used by many companies; especially SMEs. This allows more time and resources for the HR department to focus on the strategic matters that the C-suite leaders would like the HR leaders to perform.
Options of outsourcing services:
Some of the advantages of outsourcing are:
It is important that you select a reliable and quality service provider as your long-term outsourcing partner. A small number of providers are able to provide integrated services such as HR payroll services using integrated suite of HR, payroll, leave, claim, TMS software together with comprehensive talent management software delivered through SaaS or hosting. This enables your HR department to get a total HR solution from a single provider rather than managing different providers. This frees up more time and resources to focus on talent management as what the C-suite leaders expect the HR leaders to do.
iqDynamics provides a total integrated HRMS and Talent Management system for all your HR needs. We also work with our outsourcing partner PayDynamics to provide you with outsourcing services like Payroll, Leave, Claims etc.