How to Select a Payroll Service: Everything You Need to Know
About 15 percent of workers have had paycheck errors.
If this isn’t alarming, you probably won’t like the fact that about 50 percent of workers who have had paycheck errors will start looking for a new job soon after. As an employer, you know the consequences of losing an employee.
And what’s the main reason behind these errors? Employers who do payroll on their own. Why let avoidable errors cost your business? You can outsource payroll to a payroll service and make these errors a thing of the past. Using a paystub generator to create pay stubs online is the revolutionary new way for your company to create pay stub forms.
But do you know how to select a payroll service that’s worth your money? Read on for a helpful guide.
What Are Your Business’s Payroll Needs?
Although the primary goal of payroll is to ensure every worker is paid their rightful dues, businesses have different payroll needs. For example, different categories of employees have different payroll requirements. If your business has various categories of workers, your needs would be different from that of a business with only one category of workers. The first thing you need to do to eliminate payroll is to throw any paperwork out the window and start calculating payroll.
Having a good understanding of the payroll needs is key when you’re looking for a payroll service. You need to be sure that the service is familiar or experienced in handling payroll cases like yours before hiring.
Do You Need to Outsource Your Payroll?
The benefits of outsourcing are well-documented, but it’s not automatic that payroll outsourcing is the right move for your business. Sometimes you need to outsource your entire payroll or just specific payroll tasks. The lasting thing you want is to pick a payroll service only to realize that what you needed is to hire an in-house professional.
In general, you should outsource payroll if the alternative is hiring a team of in-house payroll specialists. Outsourcing is typically cheaper than keeping in-house staff. But if you only need to process payroll for a few employees, this is something a part-time bookkeeper can do competently.
Range of Payroll Services Offered
Payroll isn’t just about sending paychecks to your workers. There are tax laws to be complied with, data collection and management, employee classification, and other allied tasks.
When you’re hiring a payroll services provider look at the range of services the firm offers. Ideally, you want a firm that bundles these services together and throws in a great price.
Another thing to consider is the provider’s versatility. If your business has employees in multiple states, can the firm handle the payroll complexities that come with this arrangement? Check out Avitus Group office’s guide to learn more about paying payroll taxes in multiple states.
Quality of Customer Service
No service provider as perfect. Errors will be made. Sometimes there will be delays.
Of course, you don’t want to hire a payroll company that will make your life miserable. But even the most efficient companies will fall short sometimes. This can be excused if the quality of customer service is superb.
You want a payroll provider that’ll keep you in the loop whenever there’s an issue, not one that will sit on issues hopping you don’t notice or until you’ve to ask. Availability of a dedicated account manager is a big plus when making your selection.
Select a Payroll Service Worth Your Money
Payroll is a sensitive function in any business. You must stive to pay workers on time, all while complying with tax and other laws. Outsourcing to a payroll company is a recommended way to tackle this function, and this guide has informed you how to select a payroll service.
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