Outsourced Services in High Demand Across Industries Affected by Downsizing

DENVER, COLORADO, USA, April 18, 2023/EINPresswire.com/ -- During economic uncertainty, managing a workforce can be one of the toughest challenges faced by companies, especially with tight labor markets. Unfortunately, this is the reality for many companies today. To cut costs and scale back operations, many companies have laid off employees, including those working in HR departments. Tech leaders, in particular, have cut headcounts, and it often requires the expertise of independent help like Thrive HR Consulting. Thrive HR just updated its services, tailored specifically to help companies navigate today’s tough labor environment.

Outsourcing key expertise has long been a proven strategy to help ensure continued quality in a company’s products and services while helping to lighten the load on internal teams.

Outsourcing human resources expertise is no different. Leadership should exercise prudence when it comes to managing a company's human capital. HR departments play a crucial role in recruiting and retaining talent, managing employee benefits and compensation, and ensuring compliance with labor laws and regulations. In a tight labor market, losing these functions can be detrimental to a company's ability to attract and retain top talent and may even endanger the company’s ability to keep afloat.

Providing cost savings while still allowing companies to benefit from the expertise and support of experienced HR professionals is critical. “We assist with tasks such as recruiting, payroll, benefits administration, and compliance on a project or retainer basis, and freeing up internal staff to focus on more strategic initiatives. Our model acts as an extension of your team and we have vast experience in all HR verticals,” said Jason Walker, cofounder at Thrive HR Consulting.

The overall benefit is that Thrive HR provides cost savings while still allowing companies to benefit from the expertise and support of experienced HR professionals. Thrive can assist with tasks such as recruiting, payroll, benefits administration, and compliance, freeing up internal staff to focus on more strategic initiatives.

“Recently, we assisted a Silicon Valley Publicly Traded company with a number of projects. In the area of Talent Acquisition, the client fully outsourced all recruiting processes to our firm. We hired 20 people with 75 days to fill the positions and a very low cost-per-hire rate at 20% of the fees for a contingency search firm,” said Rey Ramirez, cofounder at Thrive HR.

“In M&A, Thrive managed the acquisition of a European Tech startup company, retaining 100% of its employees and updating all employee terms and conditions in a very difficult labor contracting country,” added Ramirez.

In Total Rewards, Thrive HR developed a new compensation program for the company, including new job architecture, job levels, role descriptors, updated global salary ranges, and new annual bonus targets for the organization.

Thrive HR continually provides ongoing support, continuing to recruit for key open roles and legal on policy development and implementation.

Overall, Thrive HR provides cost savings, flexibility, expertise, reduced risk, and fractional support to help companies maintain productivity and navigate periods of change with confidence.

Thrive divides its fractional services into several areas:

• Payroll
• Employee benefits and compensation
• Recruiting
• Employee relations
• Compliance (including risk mitigation)
• Culture and work improvement
• Diversity and inclusion
• Mergers & Acquisitions
• Social media
• Cloud-based HR platform onboarding and management

With HR experience ranging from startups to the Fortune 500, Thrive HR leaders understand the needs of growing businesses and how to most effectively address those needs across time. Thrive HR takes a modular approach and encourages businesses to only engage with the services they need at a prudent scale. When those services need to expand with success, Thrive understands how to implement those changes without business disruption.

Leveraging fractional services often allows companies to streamline their operations, offering the agility to pivot or scale offerings at the drop of a hat. Firms that outsource often see a significant return on their investments. The expanded access to talent, reduced risk, increased flexibility and boosted efficiency outsourcing can help tech leaders build more nimble, confident and productive businesses. In today’s unstable market, such qualities can prove to be the keys to ongoing success.

About Thrive HR Consulting:

Thrive HR Consulting is a Silicon Valley; Austin, TX; and Denver, CO-based, minority-owned HR Advisory that provides fractional CHRO Support and value-based HR support. Thrive supports your HR needs virtually or in person. Our team’s specialties include Mergers and Acquisitions, C-Suite executive coaching, employee relations, diversity, inclusion and belonging millennial consulting, performance management, employee engagement, talent acquisitions and digital HR transformation, and the ability to improve overall HR performance for your organization. For more information, visit www.thrivehrconsultant.com.

Beatriz Arana
EnergíaComm, Corp.
beatriz.arana@energiacommunications.com
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