A sole source supplier means that there is one vendor that can give you everything you need in a particular business area. These suppliers have diversified their company offerings to the point where they can handle everything your business needs in this area. We see this when outsourcing an IT infrastructure to a third-party vendor. Industrial suppliers use sole-source suppliers for specific products and services. One common sole source supplier is an employer of record (EOR) organization like FoxHire. How can hiring FoxHire as your sole source supplier of human resource talent help your business?
EOR’s Can Be Your Sole Source Supplier
Let an EOR Handle All of Your HR—One Stop Shopping
What if you could outsource all of your HR needs to one trusted resource? These days HR is particularly hard. Not only do you have to handle a remote workforce that stretches into states where you may never have done business before, but each of these geographies have their own taxes and labor compliance rules to worry about. Then there is hiring. Everyone is struggling with it these days. Most HR teams are stretched thin trying to add the increasing rigors of recruiting to their list of to-do’s. But what would happen if you used an EOR to handle back-office HR tasks. Would this free up your HT ream to concentrate on employee retention programs? Could they spend more time on hiring a better caliber of workers?
Many companies choose an EOR as their sole source supplier to handle:
- Background checks
- Hiring
- Onboarding
- Payroll
- Timesheets
- Health insurance
- Retirement
- Employee tracking
- Workers’ compensation
- Taxes
- And more
An EOR can do all of these things. EORs operate as the employer for the new hire. This completely eliminates the risk for employers struggling to scale their businesses. Too many times we see growing companies developing relationships with multiple vendors to handle all of these tasks. We know it takes time to manage multiple vendors; many companies hire several types of vendors to handle all of these tasks. Instead, how much time could you save by allowing a trusted advisor like FoxHire to handle all of these tasks? Could this save your organization in vendor fees, as well?
If this article makes you wonder about the benefits of a sole source HR provider like FoxHire, it should. We help companies that:
- Have an overloaded HR team.
- Struggle with managing employees in multiple states.
- You hire a lot of temporary workers or independent contractors.
- Worry about their compliance risks.
- Would prefer to focus on retaining their existing teams.
The benefits of having FoxHire EOR as your sole source supplier includes:
- Saving resources for your core business initiatives.
- Reducing the risk of tax or other compliance mistakes.
- Improving tracking of time and labor with our smart software.
- Improving the onboarding process for new employees.
- Reducing payroll mistakes.
- Eliminating liability issues that can cost your company big money.
- Increasing your ability to analyze employee data.
Does Your Organization Have an EOR Yet?
Talk with the team at FoxHire today. We have a strong track record of partnering with companies like yours to do all these things—and more.
