Should Staffing Agencies Outsource Payroll? A Guide
AdminAssistDecember 29, 2021
Staffing agencies can be some of the busiest places to work. In a world where so many people are working remotely, there are even more reasons for people to outsource. Many companies already follow a distributed workplace model, so why not bring in even more expertise?
There are so many ways companies can benefit from outsourcing. People have outsourced HR, design and development work, and even some management duties. Payroll outsourcing services can be what you need to help make everyone in accounting a bit less stressed.
It's time for you to outsource payroll. If you're on the fence, you could change your mind after you see some of the many reasons why staffing agencies need to consider outsourcing their payroll work.
Payroll is the perfect mixture of accounting and HR, and that can make it tricky to delegate out work. Oftentimes when another pay period starts companies put whoever seems the least busy in charge of everything. That takes time out of their day and can cause problems for productivity.
Let’s face it, processing payroll takes a lot of time and requires an eye with keen attention to detail. Instead of making someone’s already busy day even more packed, consider outsourcing your payroll work.
Imagine not having to worry about who will get stuck with payroll in the next two weeks. Everyone can have the time they need to focus on other work and still get payroll processed.
Running payroll in-house on your own can cost a lot in terms of time, but it can also eat up money if you aren’t careful. Take time to think about everything you need to just cut employee paychecks every other week.
Companies need their own payroll software along with special pay slips and printers. On top of the physical equipment you’ll need to handle payroll, you also have to consider the time and money spent training your staff to handle payroll too.
Instead of having to invest more time and money in payroll, let an outsourcing agency handle your payroll work. They already have everything they need on-site to handle paychecks, and they have an expertly trained staff that can handle everything that comes up.
Make Fewer Mistakes
We just talked about how much time and money running payroll can take up when you manage everything in-house. Relying on an already busy staff doesn’t just take time out of their day, it can also put the company at risk for more mistakes.
Running payroll isn’t just as simple as pushing a button and printing checks and sending wire transfers. Payroll can easily change from week to week thanks to bonuses, salary changes, and deductions. Overlooking one minor change can have significant consequences for employees and your company.
Working with a payroll outsourcing company can help save you from some of the most troublesome mistakes. With an experienced staff of payroll professionals on your side along with your own internal team, you’re much less likely to make a costly error.
Enjoy Agile Growth
Do you need to change everyone's deduction amounts to stay up to date with new tax standards? Are you concerned about having to add a lot of new employees, or take employees out of your old system?
What's good for your company today may need to change tomorrow, a week, or a month from now. If you want to be able to roll with the punches and keep everything running smoothly, consider utilizing outsourced payroll services.
You won't have to worry about falling behind on work while your company changes. The outsourcing company you rely on can handle any changes you throw its way.
Businesses handle so much sensitive information when they work with other individuals and companies. When people focus on data security for businesses they usually focus on customers. People tend to forget that business employees are at just as much of a risk as other individuals.
Think about what you need to process payroll. Along with identifying information like names, addresses, and phone numbers, many businesses also have access to banking and routing information.
If you work with a payroll company, they’ll know how to keep everyone’s most precious data safe. They have access to the most advanced security measures that can give you and your employees peace of mind.
It’s worth noting that working with an outsourced payroll processing company can also help keep your business government compliant. Employers have to adhere to certain payroll laws to operate. Instead of having to deal with changing rules about compliance each year, you can work with a payroll company that’s already up to speed on everything.
Work With True Experts
Do you think that your company is managing payroll in the best way possible? You may be able to process payments each pay period, but that doesn’t mean that you’re handling everything the right way.
One of the biggest benefits of working with outsourced payroll help isn’t that they’re going to make sure everyone gets paid on time. When you work with professionals, you also have the chance to improve your current system.
There’s no shame in admitting that your payroll system could use a little work. The company you work with will have all kinds of ideas on the right structure, software, and even pay cadence for your company.
Outsource Payroll the Right Way
When you're thinking about whether or not to outsource payroll, consider all of the benefits you stand to receive. With the possibility of having better services, improved compliance, and happier employees you truly see how beneficial the right payroll help can be.
Are you ready to see how outsourced professionals can help your company? Be sure to reach out to us today so we can find the right outsourced help for your needs.