Now that you know what outsourcing the payroll process entails, let’s look at the wide range of payroll outsourcing benefits it can provide for you and your business. In addition to considering the industry experience of a PEO, it can also be helpful to review customer reviews and ask for references from businesses that have worked with the PEO. Customer reviews can provide insight into the experience of businesses that have used the PEO’s services and can help you get a sense of the PEO’s reputation. Asking for references from businesses that have worked with the PEO can also be a helpful way to learn more about the PEO’s services and capabilities.
Hear From Some of Our Customers
While many cloud-based programs for payroll data management use encrypted servers and firewalls for security, they are juicy targets for malicious activity. For most of the 20th century, companies strove to own and exercise control over all business functions and assets. Economic theories of the day advocated growth in all reasonable directions to exploit economies of accounts payable ledger scale. This mindset of vertical integration extended into companies’ internal processes as well.
- In other words, if you’re hoping to use a third-party vendor as your de facto HR department, OnPay is not the right pick.
- One of their biggest advantages is their focus on employee experience from beginning to end.
- For organizations, inaccurate data is the top barrier to effective payroll operations.
- Companies experienced in arranging outsourcing contracts with third-party entities can rely on past experience for guidance.
- From there, I clicked “next” and was taken to a page that flagged all issues that may hinder a successful payroll run.
Users say the service is easy to set up and use for both employers and employees and is easily scalable as a company grows. They do wish that Justworks offered more in the way of integrations with popular accounting and other software and some express the need for more customizable platform features. As mentioned before, these are further areas where a misstep by a payroll outsourcing provider can become a problem for both the provider and the client company. If a company is outsourcing internationally, it shouldn’t assume that it can ignore employment regulations in the provider’s country, as these can be very different from those in the United States. When choosing a payroll outsourcing provider, it’s important to remember what’s at stake. A good provider will make things easy for the client, but client companies shouldn’t be lured into a false sense of security.
Paychex users give the service high marks in online reviews for its ease of use, but they note that the system is prone to errors, and the company’s customer support isn’t always responsive. Growing teams often forego traditional benefits like health insurance and the like because of the costs involved in paying for them at so small a scale. Even if the company does offer benefits, those have to be managed properly — preferably in tandem with payroll so there’s not a bunch of extra manual accounting labor. These days, just about any service of this level of importance comes with some kind of software platform. Keep in mind, though, that the same concerns mentioned above also apply to software capabilities. Some can handle taxes just about everywhere while others have what is payback period limited range.
How do I find a payroll company?
Finally, for employees, it will manage your unemployment taxes and claims on your behalf. TriNet’s standout features include automated tax and filing support, unlimited payroll runs, a mobile app and time and attendance tracking. TriNet is a professional employer organization (PEO) offering the option of payroll and HR outsourcing. Your company leases employees to TriNet—TriNet becomes an employer of record—and it takes care of HR and payroll for you. RUN by ADP automatically calculates, deposits and files all taxes for you. It even keeps track of payroll law changes by state and adjusts your withholdings and payments accordingly to ensure you are in compliance.
More efficient processes
Adding an employee could not have comprehensive income been simpler in my case, though there was more manual data entry than I preferred. I clicked “add an employee” from the initial dashboard and was taken to a form to fill in information on my employee. The dashboard had a handful of reports and optional action items but didn’t feel cluttered or overwhelming. Wave Payroll earns four out of five stars on Capterra with 61 reviews and 4.1 out of five stars on G2 with 31 user ratings.
Best PEO Services Of 2024
In this article, we explore the benefits of payroll outsourcing and explain how to choose the right payroll service provider, so you can make payroll processing more cost-effective and straightforward for your team. Resourcing Edge’s PEO services feature a dedicated HR expert who is your business’s single point of contact for all HR-related matters, including payroll, risk management and benefits administration. The company’s re360 portals for managers and employees centralize all interactions with its services, including custom and standardized reports, compliance and employee information updates. You can reach the support staff by telephone, live chat, Slack and email. The company’s help center offers self-support tools for employers, employees and payroll customers. The company has 15 years of experience selling PEO services to middle-market businesses.
By following these four steps, you can start reaping the benefits of payroll outsourcing and spend your time focusing on other important aspects of your small business. According to HR Dive, 61% of respondents outsourced payroll processing in 2022. Whether you’re looking to save some extra time or are interested in additional HR features, outsourcing your payroll could be the right choice for your small business. According to Technavio, the payroll outsourcing services market is estimated to grow nearly 6% by 2027. Follow this guide to learn more about payroll outsourcing and how it can benefit your business.
One of their biggest advantages is their focus on employee experience from beginning to end. Their suite of offerings help teams keep a pulse on the employee journey, from candidate to coworker to former staff. With tools to help onboard, offboard and upskill team members, it’s one of the most robust platforms in the industry for organizations that want to collect staff feedback and use it to make improvements.