Finding the Best Payroll Service for your Company.
Every company has to pay their employees. Sometimes the most experienced business owners can find themselves spending a large amount of time trying to process payroll monthly. Outsourcing this function to a payroll provider can be very beneficial and help reduce costs. However, finding the right one, can be challenging.
Here are our top 3 tips, in order to choose the best payroll service company for your organization.
- Checklist: Before choosing a payroll provider, you will want to make a checklist of what your company needs. This will help you prepare questions to ask a provider once you start researching your options. Some questions to ask yourself are: Do you need a payroll provider that can process multi-state payroll and handle different state taxes? How many employees will they be processing payroll for? Do you need additional HR services such as benefits, onboarding, etc.? It is important to be open to other options. They may offer a service you didn’t know you could benefit from.
- Ask a lot of questions: It is important to ask a lot of questions when researching a payroll provider. You will want to essentially interview them to make sure they are the best fit for your company. Review your checklist and make sure you are asking questions that cover all of your company’s needs. Make sure to ask questions that touch on the provider’s pricing, software capabilities, taxes, reports, customization, etc.
- Consider the Benefits: Using a payroll provider can help you in many ways.
- Reduce Cost/Risk: By being the employer of record, the payroll provider will reduce your company’s risk.
- Offload Duties: The payroll provider can assist with the onboarding process, benefits and payroll processing. Offloading these functions will allow your HR team to focus on other functions & projects that are important to your organization.
- Regulation Changes: Payroll providers stay up to date with changes in government regulations and will avoid any cost/penalties.
- Payroll Knowledge Risk: If you have one person doing your payroll and they end up leaving, this could cause a lot of risk. Using a payroll provider, you will not have to worry about that burden.
If you are looking for a payroll provider for your company, contact us today!