HR Prices: A Guide
Human resources operations, the interface between your company and your employees, includes so many disparate and seemingly unconnected elements that HR prices can be hard to fathom. What exactly should you be paying for different levels of HR support or outsourcing and how does it compare to the cost of maintaining an in-house HR department?
That’s exactly what we aim to find out in this Guide to HR Prices. We’ve scoured the internet on your behalf to find out everything we could about what HR services are available and how much they’ll cost you and presented it all in one place.
HR Audits
A company with its own in-house HR staff, rather than outsourcing, may be looking for an independent HR consultant to come in and tell them where things are going wrong and what could be done better. A busy company which puts daily demands on its HR team may deprive them of the much needed time required to keep up to date with employment legislation, undertake further training or monitor the efficiency of their procedures (let alone implement new ones). An HR audit will provide an in-depth review of your human resources procedures, make any quick fixes and suggest remedies and training required.
Prices: A One Day HR MOT from Lightbulb HR costs £499 at the time of writing.
HR Support
Similarly, due to the pressures your HR staff may be under due to expansion of the company or just plain busyness, they might require support from an outside company to ensure compliance with legislation, get advice on disciplinary, redundancy, recruitment or more mundane issues and have updates to employee documents carried out automatically. These kinds of HR support services as well as on-site visits when necessary are available on short contracts from most providers which include indemnity against losses at employment tribunals as long as their advice was followed to the letter.
Prices: At the time of writing, Lightbulb HR offers HR Support from £99 per month. QC People Management Ltd offer HR support including indemnity for from £109 per month.
HR Outsourcing
‘Fully outsourced’ HR services offer all the elements that HR support packages do plus extras. Because these extras are tailored to each company’s specific requirements there is no standard package for outsourced HR. For example larger enterprises may require elements, such as multi-jurisdiction employment law updates, that smaller companies would never need. Outsourced HR will always include on-site support and usually software for managing employee records. It may also include:
- Performance management
- Appraisals and reviews
- Recruitment and induction support
- Training and development support
- Employee benefits programme
- Payroll processing
- Absence management
- Employee engagement
Again, as long as nothing you do contravenes the advice of the HR consultants, you will normally have indemnity against employment tribunal losses.
The key advantages of HR outsourcing though are cost and efficiency savings. For a large enterprise, a whole HR department with its attendant paperwork can be reduced to a single software package and on-site support when needed.
Prices: No standard package so no prices to quote. A small business is looking at least £200 to fully outsource HR functions. Larger organisations will normally pay a fixed monthly rate depending on the number of employees and how many extra services are required.
