There is no escaping it – Payroll is a challenge for the majority of SMEs.
The requirement is often not large enough to justify a dedicated resource but at the same time, the complexity that comes with the role requires an expert in the field. So, what is the answer?
The Outsourced Payroll industry has grown significantly in the past decade with service provides from all over the world (a quick Google search produced results from Australia, New Zealand, South Africa, Singapore and India) all vying for online presence.
This may appear as a positive for the SME looking for an outsourced payroll service but how do you choose who to partner with? Consider which of the following are important to you, your employees and your business:
Goes without saying but take note of the fine print when considering inclusions and exclusions including payment across various awards, expense payments and additional reporting
There are few businesses that remain stable over time – to some extent we are all at the whim of external factors that may impact on our employee group and administrative functions. Ensure that your outsourced payroll provider provides flexibility for change.
To what extent do you want to outsource your payroll? Ensure that the offering can be customised to suit your business.
How secure is your employee data? Where are the servers located and what is the backup protocol? Security of the data is paramount, as is your ability to access information as required.
How many levels of approval do you require and at what stages? Your outsourced payroll provider should be able to customise the service to suit every requirement that your business needs to operate effectively.
Finally, but most importantly…
Does your outsourced payroll provider understand people or are they a software company? PATH4 Group is in the “people business” – we treat our outsourced payroll employees the same as we treat PATH4 employees.
For information on Outsourced Payroll, contact Leanne on 07 3217 5867 or email firstname.lastname@example.org