DIFFERENT APPROACHES TO HUMAN RESOURCES SERVICES FOR VIETNAMESE AND FOREIGN ENTERPRISES
HR Outsourcing is a service performed in the form of hiring an experienced unit in the field of service hr to replace the business to undertake related enforcement tasks such as: carrying out procedures for labor contract, calculating monthly salary payment, registering for medical insurance, health insurance and unemployment insurance, calculating personal income tax and tax refund, paying personal income tax … then send the details back to the business owner. In the following article, we will introduce to the reader the human resource consultancy service that S4B provide to business.
1. Full package of human resources services from S4B Vietnam
1.1 Labor Contract Handling
Managing labor contracts is a complex and time-consuming process that requires meticulous attention to detail. Labor contract handling services take this responsibility off your plate, ensuring that all contractual agreements are accurately drafted, executed, and maintained. These experts from human resources company stay abreast of labor laws and regulations, mitigating legal risks and promoting a healthy employer-employee relationship.
1.2 Monthly Payroll Management
Handling payroll is a critical task for any HR department. However, it can be laborious and error-prone if managed in-house. S4B services – hr consulting companies offer comprehensive monthly payroll management, leveraging advanced systems and expertise to calculate wages, manage deductions, and issue payslips accurately and efficiently. By outsourcing this task, businesses can save time, reduce errors, and ensure timely salary payments.
Hr vietnam is gradually moving toward outsourcing trendHr partner can replace the business to undertake many enforcement tasks
1.3 Personal Income Tax, Statutory Insurance, and Trade Union Contributions
Navigating the complexities of personal income tax, statutory insurance, and trade union contributions is a daunting task for HR departments. S4B hr company services have the knowledge and experience to handle these matters effectively. We ensure compliance with tax regulations, accurately calculate and deduct personal income tax, and manage statutory insurance contributions, relieving businesses of the administrative burden associated with these obligations. Additionally, S4B services – human resources services facilitate trade union contribution management, fostering positive labor relations and adherence to collective bargaining agreements.
1.4 Voluntary Personal Accidents Coverage
Caring for employees’ well-being is paramount in any organization. S4B services offer voluntary personal accidents coverage, which goes beyond mandatory insurance policies. These services collaborate with insurance providers to tailor accident coverage options that suit employees’ specific needs. By providing additional protection, businesses demonstrate their commitment to employee welfare and enhance overall job satisfaction.
1.5 Annual Leave Record Keeping
Managing annual leave entitlements and record-keeping can be time-consuming and prone to errors. S4B services simplify this process by accurately tracking and managing employees’ annual leave balances. They facilitate seamless leave request and approval procedures, ensuring compliance with labor regulations and minimizing conflicts. This enables hr consulting companies personnel to focus on strategic initiatives rather than administrative tasks.
1.6 Other S4B Tasks as Required
S4B services go beyond the core responsibilities to cater to specific HR requirements. These services can assist with tasks such as managing work permits for foreign employees, handling employee onboarding and offboarding processes, maintaining comprehensive employee files, and facilitating HR-related documentation. By leveraging these services, businesses can optimize HR operations and allocate resources more effectively.
2. Outsourcing personnel comes from real needs
2.1 Strategic-oriented Activities for Sustainable Development
This is because most foreign enterprises have long recognized that strategic-oriented activities are the most important factors determining the existence and development of enterprises. For enforcement activities, they often use outsourced hr company to save costs, time and resources. Among them, payroll activities or tax and insurance related issues are gradually being transferred to reputable external partners for implementation.
2.2 Improved Efficiency and Cost Savings
According to information from IDC Vietnam released in the press, the global demand for human resource-related services by 2011 will reach 132.1 billion USD, with a compound annual growth rate (CAGR) of 8 .3% in the near future. Asian companies will increasingly need to use hr service providers, specifically services: Payroll, Labor Contract handling, Voluntary Personal Accidents Annual Leave Record Other EOR tasks if required and Medical Insurance, other human resources services for small business
Hr vietnam is gradually moving toward outsourcing trend
2.3 A sustainable growth for business
To explain the existence and development of this trend, the first thing we need to acknowledge is that today’s global business environment is much more volatile than before. That is why many foreign enterprises, including hr vietnam ones, are affected by the fierce global competition. The creation of stability and good control of the hr partner apparatus is a core condition that contributes to maintaining a solid existence and helping businesses receive valuable opportunities at hand.
3. Considerations in Choosing HR Outsourcing Partners
3.1 Expertise in HR Consulting
Wages and benefits, as well as taxes and insurance, are always considered complex and volatile issues. Therefore, businesses need to find partners who are really knowledgeable about domestic administrative procedures, have close relationships with government agencies related to salary calculation such as the Department of Labor, the Insurance Agency Social, Health Insurance, etc. In addition, best hr services providers also need to have long-term investments in infrastructure such as software systems, server systems, information security systems, as well as websites that allow downloading of related resources.
3.2 Professionalism in HR Consulting
Although knowing that the benefits that human resources services company bring are not small, businesses should also consider carefully before choosing a cooperation partner. This is a job that is not too difficult but requires prestige as well as professionalism, accuracy and care from service providers, so in this field, human resource service provider have a great advantage. A service provider that is a professional and reputable hr consulting company will help you save a lot of costs while ensuring the quality of work in the long term.
In summary, in the current situation in Vietnam, the use of hr service centre is a policy that businesses should prioritize. This contributes to helping the management apparatus more streamlined and dynamic staff with reasonable costs and reduced risks. Now business managers will have more time to focus on planning strategies to develop the organization’s human resource apparatus, contributing to promoting sustainable development and maximizing benefits for the organization. If you are looking for one of the best hr services providers in Hanoi, Vietnam, we – S4B Vietnam are honored to provide our services for business in hr consulting.
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SMART SOLUTION FOR BUSINESS COMPANY LIMITED
- Address: Unit 602A, Tower A, Handi Resco Office Building. 521 Kim Ma Street, Ba Dinh District, Hanoi
- Tel: + 84 24 3974 4181
- Email: service@s4b.com.vn
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