Hiring Smart Can Save You Time & Money!
Author: Paul Cantelli
Payroll outsourcing is an excellent way to save time and increase efficiency. It can also help protect you from common payroll tax mistakes that can result in fines or other penalties. While it is possible to keep this function in-house, most small businesses find that they don't have the expertise to do it themselves or the budget to hire the staff to do it.
When it comes to selecting an outsourced payroll provider, you have many options. However, because it is so important to get it right, you have to be sure you are selecting the right provider. Look for the following features as you explore your payroll outsourcing options:
- Guarantees: Look for a provider who will stand behind their service. If they make a mistake, your company is responsible for paying penalties or resolving the problem. However, some payroll outsourcing providers will commit to paying any fines or interests that are incurred as a result of their errors. Ideally, the provider won't make any mistakes at all, but if they do, you need to know who will take responsibility.
- Tailored services: Bundled service packages always sound like a great idea, but if you're not actually using all the services in the bundle, you are potentially wasting money. Look for a provider that will tailor their services to meet your specific needs so you don't have to pay for services you are not using.
- A solid track record: Due diligence is essential when starting with a new payroll provider. Ask for client referrals and speak with existing and former customers. You can also check with your local Better Business Bureau to see if any complaints have been filed.
