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HR Outsourcing With Respect to Indian Context

HR Outsourcing With Respect to Indian Context

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Published by kamdica
visit hrmba.blogspot.com for more
visit hrmba.blogspot.com for more

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Published by: kamdica on Nov 02, 2009
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06/15/2013

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A Study on Trends in HR Outsourcing inIndian Context
 
Contents3. Executive Summary4. Introduction5. Literature review6. Objective of the research7. Scope/Utility of the research8. Research Methodology8.1 Sampling technique8.2 Data collection9. Analysis of Questionnaire10. Conclusion and Suggestions11. Limitations12. Appendix: I-QuestionnaireII- Introductory Letter
 
3. Executive summary
This research is aimed at analyzing the current state of the HR outsourcing market inIndia and the trends that are prevalent in the same. Today, in this era of globalizationthere is high degree of competition in all areas. One very important trend in the recenttimes has been the growth of human resource outsourcing. Rapidly changing marketdynamics and global competitive pressures have caused organizations to spend moretime focusing on their core business. Organizations are fast realizing that they can't beall things to all people. So companies now, be it a software company, a service provider or a manufacturing firm, decide what they are good at and outsourceeverything else, i.e., focus on their core competency, and let someone else do the restin a more efficient and cost-effective manner.As a result, human resources outsourcing is becoming increasingly prevalent. Thenumber of companies outsourcing HR activities continues to rise, and the scope of outsourced HR activities continues to expand. HR outsourcing can happen in HR functions, like payroll administration (producing checks, handling taxes, dealing withsick-time and vacations), employee benefits (Health, Medical, Life insurance,Cafeteria, etc), human resource management (hiring and firing, backgroundinterviews, exit interviews and wage reviews), risk management, etc. Outsourcing has become a common response to manage people and technology resources strategically,enhance services, and manage costs more effectively.Outsourcing non-core activities allows HR professionals to move away from routineadministration to a more strategic role. The organization can focus on higher value-added activities while the outsourcing provider takes care of the day-to-dayadministration. Critical internal resources, such as technology and talent, can bedevoted to company's core business. Outsourcing reduces the need for large capitalexpenditures in non-core functions. Thus, outsourcing becomes a strategy for reducingthe capital intensity of the business. This strategy has gained popularity as companiesaim to become more nimble and gain the speed and flexibility necessary to compete intoday's business environment. A growing number of executives understand the

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