How Often Does Your Company Write Payroll Cheques?
The advertising spots on local television and radio stations make it apparent that the holidays are fast approaching. In the midwest, Omaha Steaks is looking for temporary staff members to work very flexible hours in an effort to meet the increased orders leading up to the holidays. Trucking services hire part time staff to work any time during the day or night to help efficiently load and unload trucks that are making more and more deliveries every day as the holidays approach. Even pop up kiosks at the local malls are looking for staff to sell the seasonal merchandise that flies off the shelves during the months of November and December.
It is indeed that time of year again. Part time workers are trying to pick up extra hours. Stay at home moms are looking for temporary jobs. Even teenagers who are already stretched thin between school and athletic practices are begging their employers for a few extra hours. And while workers are looking for some extra income as they prepare for the holiday season, company payroll services employees find themselves calculating these hours, some for brand new employees working for minimum wage, some at time and a half for employees working more than 40 hours a week. It is a busy time of year the whole way around.
Through the use of a payroll check calculator company payroll tasks may seem manageable. In reality, however, the nuances of payroll are complicated and many small businesses, especially, learn that there is far more to payroll than simply cutting cheques. Calculating vacation time and meeting the requirements of the ever changing tax codes can make for some complicated and long hours as each payroll period approaches. For this reason, many companies decide to outsource company payroll services.
The Decision to Contract with Outsourced Payroll Solutions Provides Many Benefits
Small businesses, often defined as companies that have fewer than 50 employees, would likely benefit financially by outsourcing Human Resources (HR) and payroll needs. Specifically, small businesses often find that outsourcing payroll sources can save both time and cost. This is especially true during tax season.
A payroll processing company only gets paid once a month so a small business, rather than having to cut individual cheques for every employee every period, simply has to cut one cheque a month to manage the entire payroll system. Business owners who manage their own payroll in-house have the responsibility of totaling hours, performing gross pay to net pay calculations for every employee, calculating and depositing payroll taxes, and preparing and filing tax returns. Most importantly, all of this must be completed accurately and on time.
Company payroll services free your company personnel for other important tasks. As more and more companies strive for better customer service, for example, an office manager can spend time in dealing with customer concerns as well as training other staff members to do the same. Company payroll services for small businesses allow payroll disputes to be handled be a neutral arbitrator. The boss and the office manager can simply make sure that employees are correctly logging themselves in and out of their shifts correctly, and leave the totaling of hours to an offsite staff.
For mot companies, the focus of the day and of the entire staff needs to center on the products and services that are being produced and sold. In many cases, it is difficult to offer customers what they need if the staff is stretched thin because someone is in the back office running the payroll. Instead of risking the possibility of an expensive error in payments or tax withholdings, many businesses decide that it simply makes more sense to outsource the entire payroll and benefits processing system.
Owning a business can be a challenge, and one of the keys to success is delegating responsibilities and knowing when it is beneficial to outsource a task. For many companies this means making sure that the payroll is always completed correctly and on time by outsourcing these tasks. What could your office staff accomplish if you could free them of the timely and difficult task of running payroll once or twice a month, especially as the holiday season approaches and many companies are dealing with extra employees who are working extra hours.