Outsourcing Payroll - The Payroll Company

How Can I Tell It’s Time to Outsource Payroll for My Small Business?

As the owner of a small business, you play so many roles—from visionary leaders to day-to-day operations managers.

Though this hands-on mentality is often essential, some areas of your business can get bogged down and time-consuming, such as payroll and HR.

Feeling buried under piles of paperwork and compliance headaches? You may want to think about outsourcing. Here are five strong indicators that outsourcing your payroll and HR functions might help your small business.

More Complex Environment for Compliance

It’s no small job to navigate the maze of federal, state and local labor laws. Things are constantly changing in the space, and keeping up with it can take a whole work life.

If you are having trouble being compliant, get audited often, or are subject to expensive penalties, this should be a warning that your current system is not functioning.

This ensures your business remains compliant so you can avoid non-compliance and the costly fines that accompany it by outsourcing payroll to a team of professionals trained in HR and payroll.

High Administrative Burden

Handling payroll and HR in-house can be a huge time sink. Each hour spent on this administrative work is an hour that wasn’t dedicated to core business activities fueling growth and profitability.

If you’re spending precious time and resources on payroll processing, benefits administration and handling employee relations, it’s a strong sign that outsourcing could help increase your efficiency and productivity substantially.

Growing Workforce

Growth is the indicator of a healthy business, but with an increasing number of employees, comes the increasing complexity of maintaining one.

With a growing team comes a growing list of payroll records to maintain, benefits to manage, and HR issues to deal with. If your internal resource is struggling to keep up with the rapid increase in the number of employees, then outsourcing is the way to go; offer the scalability involved in meeting these tasks adeptly and efficiently.

Frequent Errors in Payroll

Payroll errors aren’t just a pain point — they can also be expensive and negatively impact employee morale. Mistakes like wrong payments, delay in payments or tax filing errors can result in disgruntled employees and possibly even legal troubles. If your business can’t seem to get its payroll right, your system is not up to the task. Payroll service professionals guarantee accuracy and punctuality, and help you keep a trained and motivated workforce.

Limited Expertise

Small companies usually do not have the funds to bring on full-time HR and payroll specialists. It can result in oversights and inefficiencies if your team does not possess the key skills required to resolve complex HR-related queries—such as employee relations, benefits administration, or legal compliance. By outsourcing your HR functions to specialists, you will gain access to a vast amount of knowledge and experience to ensure that your functions are handled both effectively and professionally.

The Payroll Company Advantage

At The Payroll Company we understand that no two small businesses are the same; we all have our own unique challenges.

Our integrated HR and payroll solutions free you up from you entire HR process, save on administrative costs, and support the growth of your business in every way compliant with the appropriate regulations. This allows you to do what you do best run your business and serve your customers giving us time to focus on our specialties.

Final Thoughts

Taking payroll and HR functions from your small business and outsourcing it can be a game-changer.

After identifying these signs and taking some proactive steps, you can help improve efficiency, reduce risk and create a more productive work environment. Stop letting administrative hurdles stop you, rely on The Payroll Company and elevate your business.

Outsourcing Payroll is a Wise Business Strategy— Here’s Why

Outsourcing Payroll is a Wise Business Strategy Here Why by The Payroll Company 505-944-0105

In this article there will be a discussion about the reasons why small and mid-sized businesses choose to outsource payroll as a way to run their business. Quick recap: outsourcing payroll can be a more cost-effective choice and save your business time and money that can be put towards your efforts to grow as a company. Outsourcing payroll is a wise business strategy, and it’s more efficient. Making this decision may be a wise decision that will favor your business in several ways. When considering payroll outsourcing, look for reputable and committed to providing solutions for all your needs.

Payroll Outsourcing Providers

Payroll and HR outsourcing can be tricky things to handle. A professional employer organization (PEO), on the other hand, will take a portion or all the functions related to workers’ federal employment tax, withholdings, reporting, and payments. When looking for an outsourcing provider, choosing a PEO that also handles payroll, accounting services, and bookkeeping often makes sense. Besides, the PEO overlaps with the HR-related matters and responsibilities, and it allows your business to focus and manage the other vital affairs needed to make the company run.

In-House vs. Payroll Outsourcing

Cost-effective: As mentioned earlier, payroll outsourcing provides many advantages. Signing up with a service is more cost-effective and gives you peace of mind that everything will be handled efficiently.

Compliance: Since payroll regulations are ever-changing, outsourcing can eliminate any potential fines resulting from human error. Moreover, new laws often target small business owners or sole proprietors, so you don’t want to take any risks. You shouldn’t have to worry about fines or compliance issues with a payroll outsourcing provider.

Security: Your business’ payroll has many processes involved, and Data or security breaches can occur when freelance writers don’t have updated software systems. Payroll outsourcing companies will provide your business with the latest technology systems to protect data and other information. They come up with the latest technologies and ensure the security of your data and information.

When Should Your Business Consider Outsourcing Payroll?

When should you consider outsourcing payroll services? When you struggle to submit payroll documents or stay compliant with regulations, it could mean it’s time to outsource. Here are a few ways to consider outsourcing payroll services:

Cost – The first thing you should know before deciding is to calculate the cost difference between the two scenarios and decide accordingly based on cost-effectiveness.

Technology – make comparisons among the software and other assets with service providers. Most of the companies have efficient and more reliable resources in such terms.

Reputation – A reputable workplace like all the companies that rely on us needs to have a clean compliance record, satisfied employees, and good security in place. It is highly important to do business with a service provider that will assist you in keeping your stellar reputation

If you are struggling to complete all your payroll-related tasks or your business is growing and you want some help handling payroll tasks. It might be time to consider the option of a payroll outsourcing provider. That being stated, complete the Free Quote form on The Payroll Company’s website to find out your options.