But it doesn't have to be that way! Outsourcing your payroll administration can be both practical and affordable - and it comes with many benefits to your business, including these five:
1. Ensured Of Full Compliance
Errors in dealing with employees' paychecks can have serious consequences for employers. First of all, there is the risk of fines (or worse) from government agencies due to incorrectly done withholdings.
Second, there is the loss of employee confidence when they see money missing from their check (or the embarrassment of having to inform a worker you accidentally paid him/her too much.) The last thing you need to lose good workers over is payroll issues - outsourcing virtually eliminates all such errors and their unpleasant repercussions.
2. Payroll Administration Timeliness
You can't afford to have paychecks go out late or for tax deposits to be made late. Professionalism demands, if anything, timeliness, and that can be a big challenge when there are so many details to enter, verify, and organize.
There may be new employees to put into the system or changes to pay rate, tax rate, address, and other key pieces of information to update. Keeping everything up to date and accurate is time-consuming, but outsourcing payroll admin saves you time while keeping everything consistently done on time.
3. Free Up Your HR Department
Is your HR department is "overtaxed" dealing with the pressure of doing payroll every pay period? Outsource and you will save them time and free up your HR personnel to attend to other tasks.
You can't expect HR to be responsive to employees with questions and concerns in a timely manner if they are constantly bogged down and nearly overwhelmed handling payroll issues. Outsourcing payroll solves that problem.
4 Confidently Handle Special Problems
When you know your payroll is being handled by payroll specialists, who are fully trained in the details of "payrolling" and constantly kept up to date on changes in state and federal laws, it makes for a boost in your peace of mind as an employer.
Dealing with special problems like complex withholdings equations that have to be done in a specific order, multi-state employees, differences between laws in different states (or counties), or deadlines for paying employees no longer with you their final check - it helps to have an expert at the task.
5. Simplified Payroll Record Keeping
Tracking deductions and keeping long term payroll records can be a major burden. Yet, to avoid liabilities and prove compliance if challenged by former employees or government agencies, you need quick access to accurate payroll records.
Outsourced payroll admin means those records exist and are in good keeping, but you don't have to house them, update them, or worry about them.
Doing payroll can be time-consuming and costly. Get help today with your payroll from the experts at Summerlin-Roberts! We can evaluate your current payroll process, make recommendations, and lift that weight off your shoulders.
Contact Summerlin-Roberts today to discuss getting started on revolutionizing your business' payroll administration!