Outsourced Payroll: advantages & risks
Payroll outsourcing is becoming a more common practice among businesses of all sizes. It’s no wonder why—outsourcing your payroll can save you time, money, and resources. But does it make sense for your company? In this article, we’ll take a look at some of the benefits of payroll outsourcing and help you decide if it’s the right move for your business. Payroll processes and functions that can be outsourced Payroll outsourcing can save your company time and money. Here are two common payroll processes and functions that can be outsourced: – Payroll processing: The process of collecting and processing employee wages and benefits. – HR management: The process of managing the company’s human resources, including recruiting, onboarding, compensation, and benefits. The benefits of outsourcing payroll are clear. By freeing up valuable time and resources, payroll outsourcing can help your company operate more efficiently and effectively. In addition, by outsourcing these key functions, you ...