Many businesses have long endorsed outsourcing of non-core functions, that are essential but don't often directly correlate with strategic business matters. But here we specifically explore the benefits of outsourcing payroll for temp agencies and what those benefits could mean in the long term.
So what is there to gain? Is it worth the time to explore the outsourcing options out there? A resounding yes would be the answer!
To ensure that you offer a high and consistent level of customer service to your clients and candidates, read on...
8 Benefits of payroll outsourcing...
1. It will allow you to think ahead and manage future agency growth easily.
2. It will free up your time and that of others in your team in this area, allowing you to focus on essential and money-making tasks. If you consider how much time is spent on the payroll internally, and any issues/errors to be dealt with after, it would be considerable.
3. It will increase accuracy of processing and decrease payroll errors and risk, giving you access to experts and experience in their field and ensuring complex tasks are completed thoroughly.
4. It will reduce costs, when considering the elements needed to run payroll - including the necessary technology, printer, ink, paper, expertise to name just a few!
5. It will remove the need to personally stay on top of legislative requirements and tax procedures, plus the training (and retraining as people leave) and the monitoring this would require.
6. It will offer beneficial complimentary services such as a technology platform. You should have access to a full and versatile agency software package to base your business around, helping with work flow, efficiency, reporting and compliance amongst other elements.
7. It will offer flexibility in terms of cost, you only pay for the service levels used.
8. It will be a secure and reliable offering, with good controls in place.
If you are not offered these elements by a payroll provider, it may be worth exploring another option or outsourcing supplier.
You can outsource your payroll or full back office at any time. Doing so from the outset has the benefit of ensuring you have efficient processes in place from the start, giving your agency a greater chance of success with a competitive edge.
To find out more about outsourcing your back office support services...