By outsourcing your payroll preparation, you can alleviate the burden on your HR team and free up their capacities. Here are five important reasons why outsourcing payroll and HR services is a smart decision:
1. Independence from relying on just a few specialists
The COVID-19 pandemic has highlighted the vulnerability of workflows that rely on specific employees. In situations where employees are unavailable due to reasons like childcare, it becomes even more challenging to find professionals specialised in the complex process of payroll, especially on a global scale. Finding suitable personnel for payroll processing is increasingly difficult, making your HR department heavily reliant on a single expert.
However, suppose you no longer prepare payroll in-house but outsource the entire process. In that situation, you make yourself independent of individual employees in your HR department. Therefore, their absences – sickness, holidays, childcare or departure – no longer play a role in processing payroll. After all, you are obliged to your employees to settle their salaries punctually and correctly. Outsourcing payroll and HR guarantees reliable payroll accounting despite holidays, unplanned absences or pandemics.
2. Focus on your core competencies, save time and money
Payroll used to be the main task of HR departments, but today the focus is on recruiting, staff development and support, and talent management. Payroll, while a routine task, takes up a lot of time. Outsourcing this process frees up tremendous capacities within your HR team, allowing them to dedicate more time to your core competencies and strategic HR topics.
Moreover, outsourcing eliminates the need for maintaining and updating your own payroll software, reducing costs. By enabling your HR staff to develop and implement new HR strategies quickly, you can increase profits and enhance the overall efficiency and strength of your company. Outsourcing payroll and HR services not only improves the quality of HR processes but also helps reduce HR costs.
3. Benefit from expert knowledge
Although payrolls are prepared regularly and are part of the routine, salaries cannot always be calculated according to the same pattern. Not all employees work the same number of hours and earn the same wage. Each payroll must therefore be based on different information. Legal claims and collective agreements can also change over time, making it challenging to stay updated.
The COVID-19 crisis, for example, resulted in new laws and revised guidelines worldwide, further complicating payroll calculations. By outsourcing payroll and HR, you can ensure that your payroll is always processed correctly and up to date, benefiting from expert knowledge in this field.
4. Customised solutions for your needs
Whether you only want to outsource payroll or would like to make use of additional services, there are individual solutions for every company and every requirement. Whether you need ePayslips or an absence management tool or a mobile travel expense reporting solution, your payroll and HR service partner can provide these customised solutions.
The outsourcing payroll and HR service provider brings technical expertise to the table and can configure a technology platform specifically for your company, adapting it to your unique needs. Digitalised workflows enable your employees to access personnel-relevant data remotely, promoting efficiency and flexibility, especially in times of crises like the current pandemic.
5. Data protection and security
If you pay attention to certain things when choosing your outsourcing payroll and HR service provider, you will not only gain time and save money, but also increase the security of your sensitive data. Seamless security through data storage in an environment tailored to the customer and impeccable data protection are top priorities.
If cloud solutions are located on backup servers, business-critical data can still be accessed in the event of a power failure. And the ISAE 3402 certification ensures that the HR service provider comprehensively documents and clearly presents the processes and complies with the legal documentation requirements at all times.
Make the move and choose payroll and HR outsourcing
By considering these important reasons and making informed choices when selecting an outsourcing HR and payroll partner, your business can streamline HR and payroll processes, drive efficiency, and focus on strategic HR initiatives, ultimately contributing to the overall growth and success of the organisation.
Experience the freedom to focus on what truly matters: shaping a thriving and innovative company that excels in the competitive landscape of tomorrow. Embrace outsourcing and embark on a journey that transforms your company from ordinary to extraordinary.