Should I Outsource My Payroll & HR Services or Do It Myself?
Payroll processing and human resource management is a required aspect of a business of any size. Choosing to process your own payroll in house or outsourcing payroll processing tasks is a decision you will want to take your time making. Depending on your company’s situation, one way to process payroll may make more sense than the other. Carefully weigh your options and make a decision that is right for you. The chart below list benefits of both outsourcing HR and managing these tasks in house.
Benefits of Outsourcing vs In House
|Outsourcing Payroll & HR to a Provider like Paper Trails||Managing Payroll & HR In House|
|1. Expert team looking out for your business and ensuring compliance Outsourcing payroll can save your company the headache of worrying about accurately reporting and filing items such as employee pay, federal and state taxes, and benefit contributions. At Paper Trails, we stay up to date with all necessary changes and act quickly and accurately to keep your company compliant and limit your exposure to tax penalties. Having a payroll provider also comes with a knowledgeable staff that is at your fingertips. At Paper Trails, we do not have a 1-800 number and are happy to assist you with any questions or concerns that you have.
2. Streamlined processes
Companies that do their payroll and HR services in house often have inefficiencies in their processes by using multiple different applications for the above business functions. A streamlined process is a great way to save your company time and money.
3. Reduced costs and workloads
|1. Control over process
Many business owners and HR managers like to have full control over their business and their money. Business owners want to make sure sensitive employee information, such as pay, benefits, and bonuses, are secure and only seen be certain people. Paper Trails can provide this control by setting privileges to owners, managers, and supervisors on how much or little information and duties they have access to. The isolved system can be customized to your companies needs to allow you to know who can see or complete certain business tasks.
2. Data security
So Which Should I Choose?
When trying to decide between outsourcing or not, keep in mind your situation. Think of things like your company’s size, your company’s budget, and your current process and future goals. If you would like to take stress off your employees, save them time on administrative tasks, ensure company compliance, and save money, outsourcing may be the best choice for your company.
If you would like to learn more about the benefits of working with Paper Trails, please feel free to contact us at 207-721-8575 or on our website here.