Page 27 - INC Magazine-November 2018
P. 27
Inc. Branded content / Hr
the burden placed on a appily for SMB owners, needs in this area and making a list of
business owner to stay outsourcing this burden is must-have and nice-to-have features,
in compliance is growing hgenerally a simple proposition. Gearty suggests. Be sure to ask
quickly, and a mistake of “There are so many payroll and payroll- candidates about the specific services
enough magnitude could related outsourcing options, many they provide, related fee structures, the
prove extremely painful. available through a single provider,” type and scope of available support,
Bottini says. “There is no one-size-fits-all and what kind of help will be provided in
Tom Gearty, Senior Vice President of
Traditional Employment Solutions, Insperity approach for businesses because not all implementing the solution, he adds.
businesses are the same. The best thing The solution’s underlying technology
for business owners to do is to work with and accessibility from both desktop
a provider who has the ability to deliver and mobile devices are other important
solutions that are tailored to their needs, considerations, Bottini says, as are the
scalable and flexible to move and grow provider’s depth of experience and
with them, and offer them the greatest its ability to identify and respond to
value for the solutions provided.” changing compliance regulations.
timing is there is no one-size-fits-all
everything approach for businesses
because not all businesses
Startup businesses should think are the same. the best
about engaging an outsourced payroll thing for business owners
services provider from day one. Existing to do is to work with a
businesses looking to switch from a provider who has the
do-it-yourself approach to an outside ability to deliver solutions
provider, or from an existing provider to that are tailored to their
a new one, should consider the timing. needs, scalable and
“While you can switch payroll services flexible to move and grow
at any time throughout the year, the with them, and offer them
start of a new quarter or calendar year the greatest value for the
is generally the easiest time,” Cumbee
explains. That approach will minimize solutions provided.
the amount of manual data entry Mark Bottini, Senior Vice President of Sales
at Paychex.
required to document prior wages. “If
you plan to switch in the middle of a Cumbee notes that the payroll
quarter, you will want to ask if your new services market is going through an
provider will offer assistance in entering evolution, with many players moving
prior-to-service wages,” he advises. toward bundled human capital
SMBs going through the selection management (HCM) solutions, which are
process for a payroll services provider needed by midsize and large companies
should start by assessing their own but may not be the best fit for micro or
small businesses. Matching your needs
to the services you pay for maximizes
cost-effectiveness.
There are many good reasons
for SMBs to contract with a payroll
services provider. Not only can you
reduce your exposure to missed
filing deadlines and the penalties
they trigger, you’ll also free up time
to devote to more business-strategic
activities and benefit from increased
employee satisfaction and morale.
