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When to Consider Outsourcing Payroll to a Staffing Firm
When to Consider Outsourcing PayrollWhile the majority of U.S. businesses process paychecks internally, this is not always cost-effective. At minimum, internal payroll processing requires the purchase of a computer or manual accounting program and extensive training to use it. In addition, businesses need to keep up to date on changes in personnel, deadlines, and tax requirements on an ongoing basis.Using a payroll service generally makes sense if your payroll changes with each pay period. If your company has employees working varying amounts of hours each week or has a significant turnover rate, a payroll service can be a time-saving and cost-effective alternative to internal processing.
Here are other events that may lead businesses to consider outsourcing Payroll:
More than an App
Self-serve payrolling options certainly exist across all marketplaces, but that does little to justify their use beyond simple hiring tasks. While mobile and web-based apps tout 5-star customer service and responsive email support, this does little for growing teams that deserve a white glove service that can understand and invest in making payroll one of your most desirable traits for contractors. Likewise, drag-and-drop applications too often omit major compliance qualifications that cannot be corrected without a deeper knowledge of HR laws and regulations.
Funding Rounds
Headquartered in the San Francisco Bay Area, we are the payrolling partners for some of the largest and fastest growing technologies companies in the world - many of which you have heard about or will soon. Raising a new round of funding is an emotionally exhaustive experience. Don’t burden yourself or your existing team with additional tasks when there are staffing, payrolling, and benefits administration services specifically designed to support you during and after these exciting circumstances.
Reassessing Current Provider
No two payrolling or contingent workforce solutions are alike. Relationships are forged during times of dire need, and if you locked yourself into a long-term contract with another provider, you may want to consider options now. There is no substitute for HR and payrolling partners that go above and beyond, and if you’re not seeing the quality or depth of service you deserve it may be time to make the switch.
Losing Contractors
Too often, companies learn the hard way that contractors need more than what is currently offered by your company. If you have found yourself unable or unwilling to expand your payrolling and benefits offered to staff - temporary or contract-to-hire - your workers may be thinking of other suitable options which can leave you high and dry unless a noticeable change takes place.
Onboarding a Team
Bringing on a new department or adding substantial staff can lead to companies consider new Payrolling partners. Organizations with small or limited-scope HR departments appreciate the ability to include Payrolling partners to assist in bridging major gaps, especially if time is a factor.
Quicker than the Competition
Seasonality aside, timeliness can be a critical element that forces your organization to rethink the approach to payrolling. With nuanced needs and complex benefits administration, you shouldn’t rely on your limited internal staff to meet deadlines without expert support staff from a payroll partner.
Premier Talent Partners can help you select the right payroll service--as well as coach you on switching to a new one. In addition to offering up the nitty gritty on payroll services, we will simplify the industry and empower you with the solid working knowledge to apply to your search for a provider.
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