Some of the heaviest burdens employers carry surround the costs, liabilities, and administration of employing their team members. Issues for the employer and for the employee when mistakes are made can result in critical damages. There are many situations where it is better for all involved to utilize a third party payroll service provider to employ one or many members of their team. If your organization has experienced any one of these top 5 points you would benefit from a payrolling service partner.
Top 5 reasons to use a payroll service partner:
- Your company is currently in a hiring freeze or reduction Mergers and acquisitions, changes in ownership, or other causes of workforce reduction can mean you need a portion of employees off your books. During a transition period you may still want the talent and skills of those employees to support your changes while removing the headcount from your payroll. A payrolling service can take on those employees during your transition or reduction planning process while still allowing your organization to have them support your site.
- You want to safeguard your company from any compliance, liability or administrative issues. A payrolling service acts as the employer-of-record of the team member(s) and off-loads the risk and liability from an employer. No longer will your team need to spend the time and resources managing the requirements of compliance such as tax withholdings, employment law, health insurance and other increasingly complex requirements. One claim or suit regarding employment can eclipse the cost of a year’s worth of payroll service four-fold on your organization.
- You have a project or expected influx in team members. A payrolling partner can allow you to interview and select the talent you would like to work on a scheduled project or during a planned influx in your staffing needs. Large fluctuations in your headcount can be challenging for many reasons. detrimental to a team and keeping project engineers, temporary team members and others on a payroll service ensures you have the talented staff your organization needs.
- You want to “test drive” employees. Even after the most prudent interviewing process, a new hire always contains uncertainty about how their performance, talents, and approach will meet the needs of your organization. Payrolling the employee or set of employees allows you to select the talent you feel confident about, while being able to see them in action for a stated period of time. All employment burden and liability remains with the payrolling partner and upon the completion of the trial phase you can roll that talent onto your books with full confidence- and often no conversion fee.
- Lower cost. Payrolling service partners have the software, professional staff, and expertise to payroll thousands of team members flawlessly. It is efficient and effective for them to payroll your staff, so the cost of using their service is lower than full cycle recruiting. Their “bulk” ability to manage employees allows them to pass the savings to you as an employer. The marginal fee of a payrolling partner is less than the hourly rates and burdens required in a robust human resources, legal, and administration staff that your organisation would need in order to provide the same level of protection.
Balance Staffing began as a payrolling service provider and is an industry leader in providing solutions to organizations of all sizes and needs. If you’d like to learn more about payrolling services, we are here to help.
