Contractor Payroll is one of those essential business processes that adds zero additional value to your businesses. In fact, there are only two outcomes you can have from running your own contractor payroll; Neutral, when people get paid what they expect and Bad when they don’t…
With all the paperwork, compliance, pressure and risks involved; if things go wrong with in-house contractor payroll it can be a real pain for your HR department or you.
Here are 6 reasons you should consider outsourcing your contractor payroll
- Cost-effective: While it is not right for everyone; but there is a reason why outsourcing contractor payroll is so popular: the cost per employee per transaction when outsourcing is a much better value than employing the equivalent requirement in headcount. Having fewer full-time employees can affect the cost-saving in your organisation. Adding to that, even in organisations of thousands of employees, investing in customised software solutions is increasingly being replaced by cloud-based solutions. Installing specific payroll software and updating it from time-to-time could be very expensive.
- More time to focus on your core business: Contractor payroll can be a tedious and time-consuming job, and taking the strain off from your employees allows them to focus on areas that could really add value to your business and boost productivity.
- Data security: Outsourcing your contractor payroll to a dedicated provider would mean your employees’ personal information is held in a secure and encrypted environment.
- Outsourced payroll providers are transparent and accountable: Accuracy is the key requirement in contractor payroll and it would have a huge impact on your business if it goes wrong. Plus, your outsourcing payroll provider would be responsible and accountable for compliance and correct payments on a day to day basis… you can always move to another payroll provider if you are unhappy.
- Total control: A contractor management company will provide you with a dedicated manager as your point of contact, with whom you can discuss how you would like to run your payroll. You would have total control.
- Organisation flexibility: Despite any changes occurring within or around your organisation, by outsourcing your contractor payroll you can be reassured that your payroll continues to run smoothly, reliably, without disturbance or interruption.
To know more about the benefits of outsourcing your contractor payroll and assistance with the same, don’t hesitate to call us on 02 9407 8700 or reach us at [email protected] and we will make sure we provide you with a cost-benefit analysis for your organisation.