Updated: Jun 22, 2020
As a business you rely on your employees to reach your business goals or complete your business’ mission. But studies have shown, employees like getting paid. To avoid a mutiny or being overthrown by a crowd of under compensated employees, it’s a good idea to pay them, on time, and regularly. Luckily, we have laws in this country that dictate how, and how much we MUST pay them. Following these rules is highly recommended as there can be fines and penalties for disobedience.
Now when it comes to payroll, your business has options on how you choose to get your employees paid. Some businesses prefer to complete their own payroll and pay their employees on their own accord. It allows the business some freedom and flexibility but that can be a double-edged sword, because we're human and sometimes we forget things that can be vital for a complete, accurate, and compliant payroll.
One of the huge disadvantages of completing your own payroll, especially for a small business, is the amount of time involved, and possibly number the staff required. There is only so much time, and as a business, you must divide it accordingly. Payroll may not be the best use of your time or skills so its important to evaluate.
Why Use a Payroll Service Provider?
Many businesses start off by doing their own payroll but soon become overwhelmed. The best advice I can offer is; don’t struggle on your own. If you are trying to manage your payroll on your own and often run into difficulty, please reach out and get the needed assistance. Payroll mistakes and penalties can be very costly. Using a payroll service provider can have many benefits:
Takes the load of completing payroll operations off you or your business
Saves you time and returns your focus to business growth
Keep employee wage expenses low by not having to hire payroll specialized staff.
Ensure your payroll stays up to date on changes to legislation and ESA standards.
Pay your employees, government remittances and other third parties all with one easy payment.
Working with a payroll service provider can have a huge impact on your business. Instead of worrying about paying your employees, you can focus on hiring the right employees, training them to be their best, and working together to grow your business and achieve your mission.
Here is a great article on Business.com (https://www.business.com/articles/free-payroll-services-apps/) that does an excellent job of describing all of the payroll processing options you have to choose from. If your payroll process isn’t working, do your research, evaluate, and choose the best method that suits your needs. Keep in mind that as your business grows, your payroll needs will change, make sure your choice will grow with your business and continue to provide value.
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