15 Mar Is it time to outsource payroll?
Processing payroll in house can be expensive. And with the average business spending about $30 on employee compensation for every hour worked, there’s a good chance you’re spending more than you need to on payroll. Outsourcing payroll is no longer a luxury but a necessity and the future of payroll services.
To evaluate the potential benefits of payroll outsourcing, ask yourself the following questions:
- How much time do you spend processing payroll?
- Do you provide a direct deposit option for your employees?
- Can you trust the person that’s currently processing payroll?
- How many forms do you print and distribute to your employees?
- Do you report new hires to your designated state agency?
- How do you track employee time & attendance data?
- How are you currently storing your payroll reports?
- Do you always submit payroll tax payments and reports on time?
- How often do employees inquire about vacation or sick time balances?
If you’re concerned about the way you answered some of these questions, it’s probably because you’ve discovered some areas of improvement.
Can your business benefit from an all-inclusive paperless payroll solution? Contact Payroll Partners today to start enjoying the benefits of outsourced payroll.