It takes dedicated time and effort to pay employees on time and accurately, while staying compliant with wage and hour regulations and employment law. The process includes much more than just tracking hours and passing out checks.
For small and mid-sized businesses who are focused on being profitable and growing their businesses, payroll processing can quickly get overwhelming. Custom payroll services can not only save time and money, but be the lifeline that enables companies to focus on core business operations while taking care of the employees they need for business success.
Some businesses may have the accounting and payroll expertise already available to process payroll in-house, but in-house payroll takes a lot of resources from the business and can also be risky in regards to tax liability. Companies need to remember that payroll involves much more than just printing and signing paychecks.
These are important issues related to payroll:
Employers who miss payment and reporting deadlines or have problems understanding benefits and leave requirements need to proactively consider how they’ll meet their compliance responsibilities. Fines and penalties or legal notices from the IRS and other government agencies can become significant and overwhelming to deal with.
Because each business is unique and carries a wide variety of diverse payroll needs, custom payroll services can work better for these types of employers than a “big box” vendor. Many of the larger payroll services only offer standard processing and don’t provide the customization that small and mid-sized employer needs.
Finding the right payroll service depends on your payroll and employer-related needs, your company’s budget, and the level of service you need or want from your provider. You’ll need the basics, of course, but additional features to consider when you outsource payroll include the following:
Custom payroll services provide benefits far beyond just calculating and printing paychecks. They can provide workforce solutions that create money and time savings, enabling employers to get accurate results without draining their valuable time.
The automated solutions available enable employers to eliminate manual entries and errors in paychecks, taxes, benefits, retirement plans and more.
Finding the right payroll service that can provide the custom payroll services you need with the flexibility your business requires is important. A provider that also offers top-level customer service can complement that flexible approach very nicely.
PAYDAY Workforce Solutions provides a single database SAAS solution for Human Capital Management (HCM) including payroll, human resources, time management, benefits administration and onboarding to companies of all sizes and in various industries.
625 The City Drive South, Suite 250
Orange, CA 92868