Are you looking for help with your Cayman HR function?
With the high costs and complex minefield of employment and other laws in Cayman, we know many small and medium companies are in need of support with their HR management. In addition to other services, Invenio offers Outsourced HR Support services to companies across the Cayman Islands.
What is Outsourced HR Support?
Outsourced HR support is the provision of HR management and support by an expert third-party service provider such as Invenio Global.
Benefits of Outsourced HR Support
According to the PWC Salary survey for 2018, the average salary for an HR professional at the following levels within Cayman is outlined below:
Director of Human Resources Average Salary US$ 144,900
Head of Human Resources Average Salary US$ 147,900
Human Resources Manager/HR Business Partner Average Salary US$ 97,000
Human Resources Administrator/Generalist Average Salary US$ 50,300
Human Resources Assistant Average Salary US$ 49,900
Fixed costs for HR support and management such as these are difficult to justify for most businesses in Cayman. One of the reasons we have been so successful in supporting our clients in an economical way is by having one HR professional support several clients, as not every client needs a full-time HR Manager. For example, a client needing weekly support from an HR administrator a few days per week could do with oversight once a month from an HR Manager which results in a much cheaper solution than a full-time headcount.
The benefits of outsourcing a part or all of your HR, Payroll, or Immigration needs are easily quantifiable.
Invenio’s Cayman HR Support Solution
Invenio Global offers varying levels of HR consultancy and outsourced HR support services to its clients in Cayman and has experience doing so for over 20 years. Shifting business needs, evolving employment landscape, as well as legislative changes, have meant that clients are now more than ever in need of additional support to help them navigate the HR challenges of today.
We find several clients need Human Resource support, but either don’t have a full-time need for an HR professional or the budget to access the level of professional they require.
We have a team of HR support specialists based in Cayman who are able to cater to businesses of all sizes. We offer a flexible HR solution with allowing you to get maximum coverage for minimum fixed overheads.
Our clients benefit from a wide range of outsourced HR support services, including:
- Compensation & Benefits
- Training and Development
- HR Audit and Compliance
- Employee Engagement & Retention
- Performance Management
- Redundancy and Outplacement
- Payroll processing
We will help devise your HR collateral for your initial stage of growth, such as an Employee handbook, Leave request for/process, expense request, onboarding employee pack. This will be done on an ongoing basis, depending on your needs and priorities which process or collateral is required first.
Recruitment HR Support
We can provide recruitment support by being your HR representative when interviewing candidates, assessing for cultural fit, job fit, and overall suitability. We professionally vet candidates ensuring a quality pipeline of suitable applicants resulting in lower attrition rates by getting the hiring process right in the instance.
Compensation & Benefits
We have collated data from working with clients across all industries and at each and every level, which helps us understand the employment economics for their industry. As such, we are uniquely placed to offer advice and guidance on compensation and benefits.
HR Audit and Compliance
Compliance with the current Labour Law, Pension Law, Immigration Law, and industry best practices are a must for all employers in today’s competitive market. Invenio Global can build your HR processes, policies, and workflows and adjust accordingly.
We would support the Immigration requirements you would have on an ongoing basis, including permit submission, renewal, Business Visitor permits, VWV etc.
We conduct a full audit of your current pay cycle requirements, commission payment structure (if applicable), benefits (including health and pension), vacation entitlement as well as any other needs specific to your firm. We can integrate our process map flow with your business model and your systems to ensure we are synced, both in terms of process and technology. Find out more about our Payroll Services here.
So why Invenio Global for HR Support?
Focus – You focus on your business and your key strengths
Subject Matter Experts – We are experts in the field, with current knowledge and industry contacts to give you peace of mind.
Consistency – We cross-train our team on all client’s needs, processes so there is always a backup support person ready to assist.
Cost Saving – We don’t believe you should pay for a full-time HR professional if you don’t have a full-time need. Outsourcing ensures you pay for the service you need, not the salary for an underutilized resource.
Knowledge base – Invenio Global will build your client profile (backed up in the cloud) with all the relevant information, if you decide to end the contract you have a repository with all your information and resources ready to be transitioned to the new employee or owner of your HR function. When an internal employee leaves the business, a good portion of the HR knowledge goes with them in most cases
Ramp up or Ramp down – Our flexible solution offers you the ability to ramp up your HR support when you have more urgent needs or need extra support and ramp down when you no longer have a need for it, without the headache of hiring and firing.
Need HR Support now?
Invenio Global can provide you with HR support, HR management, and general guidance on human resource needs as and when you require it, on a full or part-time basis. We understand some clients require a number of hours or days per week or an ad hoc level of support to assist with anything ranging from a Labour tribunal hearing, Employee Handbook to an HR project, so we tailor our HR Support Services specifically for your company.
If you need HR support and management for your employees and your business is located in the Cayman Islands, then please get in touch with our HR specialists to discuss further.