Your human resources employees are busy. Among keeping an eye on compliance, administering benefits, effectively managing employees’ time, and doing everything from hiring to overseeing employee development, they have lots on their plates.
Payroll is another one of their tasks, and it’s one of those functions that can eat up a lot of time if you let it. New solutions, enabled by technology, have been helping HR departments in many American businesses get back to their other tasks.
Have you considered full service payroll for your business? If you haven’t, now’s a good time to think about making the switch.
What Is It?
You may have already considered sending your payroll out of house to a service provider. Many businesses, both large and small, do so. There’s a good argument for sending payroll to an outside provider. It’s a repetitive task that can take up a lot of time, and the people on staff with the service provider are experts at what they do. They can get payroll administered faster, which frees your HR staff to complete other tasks.
Some businesses look at the price tag associated with payroll services and wonder how they can possibly afford it. One of the solutions is to outsource a couple of key tasks, particularly those that take up the most time.
Full service payroll, on the other hand, allows the service provider to manage your payroll from end to end. The provider assumes control of your payroll services, meaning your HR employees don’t need to be involved.
What’s It Good For?
Perhaps the biggest advantage of full service payroll is the fact that it frees up more time for your HR department staff. While sending some payroll tasks out of house to a provider will free up some time for your staff, they’ll still need to be involved in payroll.
Full service will take payroll completely off their hands, allowing them to turn their attention to other important tasks, such as hiring and compliance.
Continuity of Service
Another way full service payroll saves time (and costs) is its delivery of continuity of service. When you send one or two payroll tasks out of house, your own in-house HR people still need to be involved in payroll. This can cause all kinds of headaches as they try to complete tasks by the service provider’s deadlines and relay important information.
Sometimes, things will get lost in translation. Your payroll could end up with a big mistake in it or you may miss a deadline because your HR staff couldn’t meet the service provider’s deadline.
With full service payroll, these worries evaporate. Your service provider handles everything from end to end.
Continuity of service also means your service provider is always aware of what’s going on with your payroll. There’s much less opportunity for vital information to get “lost” between one party and another.
Getting the Help You Need
Perhaps the best reason to consider a full service option for your payroll is it will give you the help you need. Keeping up with all of the nuances of payroll is a big task. Not only do you need to complete the tasks of tracking employee time, calculating wages, and withholding the proper amount of taxes, you’ll also need to keep an eye on compliance, benefits administration, and so much more.
When you adopt full service payroll, you get access to the expert help and advice you need to administer payroll in the best possible way. No one wants a surprise audit or fines from the IRS. Full service payroll is your best bet to avoid these situations.