By Wendy Dessler
Paying your employees weekly, bi-weekly, monthly, or on another schedule is a top priority for most business owners. However, the process of doing payroll can be quite time consuming and tedious. If you have a limited HR staff or, as the owner or manager, are stuck handling this on your own, it may be time to consider outsourcing the task.
Today, a large number of small and big companies choose online payroll services to simplify paying their employees, while ensuring everything is still accurate and on-time.
When you begin looking for payroll system options and if you visit HR Payroll Systems website and other providers or these services, you may wonder how to choose the right option. This is a good question and one that needs to be considered carefully. Keep reading to learn more about payroll services and how to find the right one for your company.
No two businesses are exactly the same. As a result, each company is going to benefit from different features that cater to their business’s unique needs. Today, you can find a wide array of customized small business payroll software, which can help your business significantly.
When selecting a system for your payroll, you need to consider what it is you are trying to accomplish or what your pain points are. Some of the factors that are going to impact this decision include your company’s size, your budget, and how comfortable and familiar you are with legal and regulatory payroll factors.
Besides the ability to handle your tax obligations and payroll processing, which are must haves for any payroll software, you need a few other features too. For example, you should find out if the service provides you with several pay options, such as prepaid debit cards, paper checks, and direct deposit.
It’s also a good idea to see if the system offers paid-time-off management, detailed payroll reports, unemployment insurance, workers’ compensation administration, garnishment payments, and multiple wage rates.
While you want an array of features, don’t choose a system that seems to go overboard. Too many features can make a system more complex than it needs to be.
Consider Functionality vs. Cost
You also need to consider the cost of the software when making a decision. Even if you have a limited budget for this purchase, going with the cheapest product may not be best. The cheaper the solution you choose is, the more manual work you are going to have to do.
By choosing a payroll solution that costs slightly more now, it can help you save money in the long run. Also, the more accurate you are, the more money you can save on compliance errors, tax, and payroll, along with penalties that occur because of the errors.
Ease of Use
The payroll services you choose should not be so complex you don’t understand what they are or how they work. The interface should be easy and comfortable, and it should allow you to run payroll easily and add or remove employees in just minutes. If this functionality isn’t provided, it’s best to look elsewhere for a solution.
Try to find a payroll service that gives you the help you need, when you need it. You need to ask about if you are going to have a dedicated support representative who is always going to be your point of contact, or if there is a general “help line” you call into when a problem occurs.
Finding the Right Payroll Solution
Finding the best payroll solution for your business doesn’t have to be a difficult task. By using the tips and information here, you can feel confident that you have found a solution that meets the needs of your business, while helping you save money, and improve employee satisfaction rates.