Human resources (HR) is an important business function responsible for managing employees and ensuring regulatory compliance. For many small businesses, it’s easier to outsource this function than conduct it in-house. The global HR outsourcing market is expected to surge to $52,941.67 million by 2031, according to a Business Insights market research report.
Businesses who outsource their HR say they’re interested in controlling costs, increasing flexibility and providing a superior level of service to employees, according to the Society for Human Resource Management. If you’re looking to outsource your HR, you may have come across two common models ― professional employer organizations (PEOs) and administrative services organizations (ASOs). But what exactly do these abbreviations mean and what separates one from the other?
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