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Outsourcing is a business practice in which companies use external providers to carry out business processes, that would otherwise be handled internally. [1] [2] [3] Outsourcing sometimes involves transferring employees and assets from one firm to another.
Staff augmentation is an outsourcing strategy that is used to staff a project and respond to the business objectives. The technique consists of evaluating the existing staff and then determining which additional skills are required.
A professional employer organisation (PEO) is an outsourcing firm that provides services to small and medium-sized businesses (SMBs). Typically, the PEO offering may include human resource consulting, safety and risk mitigation services, payroll processing, employer payroll tax filing, workers' compensation insurance, health benefits, employers' practice and liability insurance (EPLI ...
Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they ...
An administrative services organization (ASO) is an organization that provides outsourced solutions to meet the administrative and HR needs of the client, with the client retaining all employment-related risks and liabilities. [1]
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a second-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain .
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