Updated: Aug 16, 2021
A company’s greatest asset is its people, and payroll is one of the most important aspects of running your business and developing a culture of trust and loyalty among your team.
Employees that receive payroll late, inconsistently or in the form of inaccurately calculated checks can quickly become unmotivated, negative and ultimately leave your company for new opportunities with nothing but negative things to say about their experience. Mishandling payroll can completely erode a company's work culture, slowly breaking down even your most valued workers.
Trusting your payroll to an outsourced solution can uncover time and opportunities that were otherwise spent in the processing of DIY payroll. Here are a few of the basic benefits to payroll outsourcing:
As a business owner, your time is best spent on company growth and employee management. Payroll processing is a task that is best left to the professionals and outsourcing it can directly benefit your ability to more efficiently manage the vision you have for the growth of your company.
Avoid Tax Penalties
Timely, accurate filing of your payroll tax returns and payments is imperative as a business owner. If you are handling payroll without the support of an experienced and agile accounting team, you are at an increased risk of incurring up to thousands of dollars of fines, fees and interest costs - which can evolve into more challenging issues for the future of your business.
Why is so much of the workday committed to busywork and otherwise tedious tasks? Productivity can constantly be undermined if interruption after interruption disrupts the productivity flow of your team. Instead, you can take back your time and maximize your efficiency and production by allowing these tasks to be outsourced to a trusted team of professionals.
Avoiding tax penalties and increasing your overall productivity positively affect your ROI. Additionally, working with a payroll provider will further reduce the direct costs of processing your payroll because you can save the costs of paying a salaried payroll position or a full-time payroll team.
Payroll outsourcing firms take the security of your information very seriously and have access to some of the most robust security features to ensure layers of safety procedures guarding your information.
The best way to ensure you are efficiently securing information is by finding a payroll solution with the capability to go above and beyond the call of duty to ensure your financial security. Payroll services should receive extensive audits on a regular basis to ensure accuracy and confirm the integrity of its systems and services.
Experts on Call
A trusted payroll processing team with years of experience and access to valuable resources helps you solve every payroll and expansion event in your future. Peace of mind comes from that ability to rely on the additional expertise, innovation and support. Having experts on call for payroll services, payroll software and business consulting empowers you to quickly and efficiently resolve existing issues while mapping out how to identify and avoid any potential issues in the future of your growth.
Checks & Balances and Reconciliations
Having additional (and expert) eyes on your finances will help you identify any common (or uncommon) patterns associated with Payroll Fraud. Additionally, external handling of the reconciliations for your business transactions and payroll helps ensure accuracy and a smoothly-operating machine.
Take the Plunge!
It may feel a little overwhelming to take the first steps in outsourcing such an integral part of your business, but the return of time and the decrease of stress that comes with no longer having to physically manage payroll for your employees is well worth the setup.
Our Humanic team is here to help you through the process of setting up payroll outsourcing (US domestic or Internationally) as well as solve any unique challenges your company may be experiencing.
Reach out to us today by setting up your Custom Demo with our team. See the future of payroll in action and experience how outsourcing payroll can both make your company more efficient and grant you peace of mind! OR, Give us a call at +1.877.588.8550. We'd love to hear from you!