Outsourcing HR: The Benefits of Outsourcing Payroll
Many organizations are realizing the benefits to outsourcing payroll services. In addition to processing payroll, such services can also include filing taxes and issuing W-2 forms which are tasks that even seasoned professionals can find difficult. Organizations that have employees that work varying amounts of hours each week, experience significant turnover, or have to pay payroll taxes for more that one state are likely to find outsourcing payroll as a partnership that not only saves time, but is cost-effective as well. There are several benefits to outsourcing payroll that include:
More free time to focus on business activities that generate more revenue and add value to the organization.
Avoiding penalties for late or incorrect filings or payments.
Offering the convenience of direct deposit to save time by not having to go to the bank each pay period.
Having someone with payroll expertise on the organization's team ensures the practices are in line with current federal regulations and withholding rates.
Stability comes with have a company handling these services versus an in-house employee that may resign taking the knowledge of the payroll process with them.
When chosen carefully, an outsourced payroll provider does more than provide the services you need. They also provide top-notch customer service as a partner that the organization will have to have regular communication with. Prior to hiring a company, along with inquiring about services and pricing, checking references can be instrumental in choosing the provider that is the best fit for the organization. ModernHR understands how important this decision is. Our team is dedicated to providing you quality HR services and customer services. For more information, contact us today.
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