Won’t I Lose Control If I Outsource My Payroll?

No, you’ll actually have more! A common concern is the potential loss of control over one of the most critical functions in the organization. However, when done correctly, outsourcing can actually enhance control, providing improved accuracy, compliance, and efficiency. Here’s how:

Enhanced Control Through Improved Accuracy

Accuracy is paramount in payroll processing. Errors can lead to employee dissatisfaction, compliance issues, and financial penalties. By outsourcing payroll to a reliable partner like an APlus, businesses can leverage advanced technology and expertise to ensure precise calculations and timely payments.

• Reduction in Errors: The American Payroll Association reports that automated payroll systems can reduce errors by up to 80%.
• Employee Satisfaction: According to a survey by the Workforce Institute, companies with accurate payroll processing report a 15% increase in employee satisfaction.

Improved Compliance

Staying compliant with ever-evolving tax laws and labor regulations can be challenging. Payroll outsourcing partners specialize in this area, ensuring that your payroll processes adhere to all legal requirements. This means less risk of non-compliance and the associated penalties.

Compliance Benefits:

• Expert Knowledge: Payroll providers stay updated with changes in tax laws and regulations, ensuring your payroll is always compliant.
• Automated Updates: Advanced payroll systems automatically update to reflect the latest legal requirements, reducing the risk of manual errors.

Increased Efficiency

Efficiency in payroll processing translates to significant time and cost savings. Outsourcing reduces the administrative burden on HR professionals, allowing them to focus on strategic initiatives rather than manual payroll tasks.

Efficiency Statistics:

• Time Savings: Companies can save up to 50% of the time spent on payroll processing by outsourcing.
• Cost Reduction: A study by Price Waterhouse Coopers found that businesses can save up to 18% on payroll costs by outsourcing.

Access to Payroll Experts and Advanced Technology

Outsourcing payroll gives you access to a team of experts and the latest payroll technology. This combination ensures that your payroll processes are not only accurate and compliant but also optimized for efficiency.

Benefits of Expertise and Technology:

• Expert Support: Payroll professionals provide valuable insights and support for complex payroll issues.
• Advanced Systems: Modern payroll platforms offer features like real-time data, automated calculations, and detailed reporting.

Maintaining Control Through Reliable Partnerships and Communication

Choosing the right payroll partner and maintaining open communication are crucial to retaining control over your payroll processes. Here are some tips to ensure a seamless partnership:

Choosing a Reliable Partner:

• Research and Reviews: Look for providers with a strong reputation and positive client feedback.
• Service Agreements: Ensure you have a clear service agreement outlining responsibilities and expectations. Also, not all Companies make you sign contracts.

Open Communication:

• Regular Updates: Schedule regular check-ins and updates with your dedicated Client Support Specialist to stay informed about any changes or issues. If you don’t have a dedicated support person, find a payroll provider that can.
• Feedback Mechanisms: Establish channels for providing feedback and addressing concerns promptly.

Outsourcing payroll does not mean losing control. On the contrary, it can enhance control through improved accuracy, compliance, and efficiency. If you would like more details on how APlus Payroll might be able to help you, please contact us.