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Should I be outsourcing payroll?

Posted by David Ballinger on Aug 20, 2018 8:08:00 AM
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Payroll managerDo you ever ask yourself why you're doing payroll? Obviously, your employees depend on their paychecks, but why are you the one cutting those paychecks?

Many times, payroll falls into the lap of the most qualified person who has the least time to do it. Whether you're a busy CEO or an overwhelmed HR manager, payroll doesn't belong on your plate by default. In addition to having a heavy work load, here are some reasons you should consider outsourcing payroll to a professional payroll management service:

You're looking for efficiency

We all know that the equation for measuring efficiency is comparing time and cost. Conduct an honest assessment of where your time is going and how much it's costing (or profiting) you to put it there.  Unless you're formally trained in handling payroll, it's likely that you're spending more time doing payroll than you're paying yourself for. That's not very efficient.

Your time could be better spent elsewhere, and your money could be more effectively directed toward a payroll professional who knows both what they're doing and how to do it quickly.

You need consistency

If you're handling payroll as an extension of your "real job," then chances are, you're learning as you go, or worse, making it up as you go. Neither approach screams consistency. 

Alternatively, payroll service providers are paid for their consistency. If their clients couldn't trust them to be consistent, they'd be out of business very quickly.

Not only does consistency count when it comes to dollar amounts on employee paychecks, but it also extends into the realm of legal requirements related to taxes and other government regulations. By paying a professional to manage payroll, you can trust that you're in compliance with tax laws and any other legal requirements that might result in a pricey law suit if not adhered to.

You want increased security

No employer likes to think about the possibility of an employee embezzling funds or using confidential company information or employee records for personal gain. However, the possibility exists and should not be ignored. Outsourcing a payroll management service is one way to protect against security breaches. Why? Because there's more accountability within a well-established agency that works as a payroll management team than there is with a single individual who's responsible for handling payroll activities on their own. 

You desire professionalism

There's a level of professionalism that's associated with an outsourced service -- especially one that specializes in something as specific as payroll. When you find a payroll service provider that works efficiently, provides consistency and heightens security, chances are, that same company also functions at a higher level of professionalism. Focus on the first three goals, and you'll likely end up with the fourth as well.

Not sure where to begin your search for payroll services? Start with OpSource Staffing. We offer payroll management as part of our EMS program, known as Exclusive Managed Services. Click on the banner below to discover what other offerings EMS provides.

Exclusive Managed Services from OpSource

Tags: Workforce Management