If you’re a business owner or the head of human resources, you know that payroll is time-consuming. Not only is all of the paperwork a pain, but there are also hidden fees for payroll costs. With the economic changes brought on by the COVID-19 pandemic, it’s difficult to predict when you’ll require new employees or need to scale back.
To make things easier, consider outsourcing payroll to an experienced provider. Not only can it free up time for you to focus on other projects, but it can also help you save money. Here are four reasons to consider outsourcing:
1.) Increased accuracy
With an in-house team, small mistakes may slip through the cracks and become big problems later on. With an outsourced team, you’re hiring experts who are trained to do the job right. Outsourcing your payroll also eliminates the risk of fraud.
2.) Cut costs
Are you trying to cut costs? Is your business on a tight budget? Outsourcing is a great way to streamline your efforts. By outsourcing your payroll, you only have to pay for hours actually worked instead of compensating an entire team. Plus, you don’t have to worry about benefits like vacation, 401K, or health insurance. That means the money goes back into your pocket and increases your bottom line.
Pro tip: calculating payroll expenses is especially important if you’re a small business owner with fewer than 30 employees. We suggest calculating how much time you’re spending on payroll versus where the time could be spent elsewhere. If you’re wasting more than two hours each month, it’s time to consider outsourcing.
3.) Improved security
The payroll process is risky if not done correctly. Although employees seem long-term and trustworthy, there’s always the risk of fraud, embezzlement, or identity theft.
When you invest in a payroll service, you’re alerted if anything is amiss, allowing you to stop the problem in its tracks. We set ourselves apart from the completion by investing in the correct software and systems for storing and protecting your data. Rest assured that we have your back.
4.) Consolidated data
At Payroll Office of America, we have everything you need in one spot. Once you’re a member, you can log in at any time to view your information by using our login portal. Say goodbye to messy paperwork and bulky binders and make the full switch to digital! No more late nights and headaches!
To learn more about our outsourced payroll services, please visit our website. We look forward to collaborating with you!
