There are a good variety of tasks which organizations can prefer to outsource rather than doing in-house to save on their valued time, effort and money. One of the core tasks that they usually outsource is payroll management. However, there are a lot of organizations that have wrong ideas about this move. This article debunks some common misconceptions about payroll software
Only big companies can afford to outsource payroll related work
This is a bad idea. There are a number of companies which are small and they can even have the affordability and power to outsource their payroll related work. Even a number of well-known vendors offer competitive prices for small businesses.
Why outsource and waste money when it can be done in house
Outsourcing can be expensive. This is indeed one of the most inaccurate ideas exist about payroll. Actually, payroll can be expensive if done in-house. This is because outsourcing can earn you savings in the form of working in pinpointed goals – saving you from expenses of employing dedicated payroll professional and most importantly outsourcing can allow you to access skilled manpower at a fraction of the cost
Payroll outsourcing setup is complicated
This is another misconception that exists about payroll outsourcing. It is actually very easy and simple to setup payroll, if you are taking the help of professional service provider . Payroll outsourcing can help you save time, effort and money – if you are defined about what you need and how you need. The payroll outsourcing set up when done by an expert vendor can easily help your company to easily integrate into the systematic process
Outsourcing is not safe
Contrary to what is usually thought, outsourcing is that bad. There are many big companies exist who specifically work dedicatedly to offer real-time, and highly skilled outsourcing services. You can easily trust their expertise and count on their standalone experiences when it comes to designing and developing affordable but highly useful outsourcing services. There are companies who employ highly pinpointed mechanism and have on board skilled manpower who ensure that the content they work for you is safe and secured.
Those were about the misconceptions about payroll outsourcing. Now, the following are a few generic misconceptions about payroll in general
- Setting up a payroll is a one-time process
- Payroll means only salary calculation
- HR or finance team can develop it
- It does not necessarily involve employee taxes
- The core about payroll is that it is only fully transactional
- Payroll process can enhance employee productivity
These are a few misconceptions about payroll outsourcing payroll and payroll process in general.