GENERAL KNOWLEDGE

Detailed explanation-1: -Human resource outsourcing is the contracting out of specific human resource functions, such as payroll, benefits administration, and recruiting, to a third-party service provider. By outsourcing these functions, businesses can save money and time, and can focus on their core business activities.

Detailed explanation-2: -HR outsourcing is a contractual agreement between an employer and an external third-party provider whereby the employer transfers the management of, and responsibility for, certain HR functions to the external provider. Many types of HR outsourcing options are available to employers.

Detailed explanation-3: -Outsourcing is the process of hiring an outside organization that is not affiliated with the company to complete specific tasks. Insourcing, on the other hand, is a business practice performed within the operational infrastructure of the organization.

Detailed explanation-4: -HR business process outsourcing involves hiring an external service provider to manage your HR activities. You can outsource some parts or entire functions to a BPO company overseas or in your home market. Some of the functions delegated to a BPO firm include: Recruitment and hiring. Applicant tracking.

Detailed explanation-5: -What is the difference between Outsourcing and offshoring? Outsourcing is the practice of hiring a third party to replace in-house services and to complete certain business requirements while offshoring is the practice of basing some of a company’s processes or services overseas, so as to take advantage of lower costs.