Your human resources have a wealth of more essential tasks to complete: with which they can strategically advance your company.
Why not relieve your HR department and free up capacities by outsourcing the preparation of payroll. Here are five important reasons for doing so:
Be independent of individual employees
The pandemic and its impact on companies have made it clear: workflows that depend on specific employees can quickly falter. Namely, when employees are no longer available in the usual way due to childcare, for example. The lack of professionals specialised in the complex process of payroll – especially global payroll – makes such situations even more difficult. Fewer and fewer junior staff are enthusiastic about this subject, so it becomes increasingly difficult to find suitable personnel. You are then all the more dependent on the one expert in your HR department.
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 guarantees you reliable payroll accounting despite holidays, unplanned absences or pandemics.
Concentrate 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. If you outsource this process, the freed-up capacities are tremendous, and your HR staff have much more time to devote to your core competencies and strategic topics in HR.
In addition, you no longer need your own payroll software, which would have to be maintained and updated by your IT – saving you money. But you can also increase profits if the HR staff can develop and implement new HR strategies quickly. As a result, the entire company becomes more powerful and efficient. Thus, by outsourcing, you simultaneously increase the quality of HR processes while reducing HR costs.
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 can also change, and collective agreements are adapted: it is not set in stone what was agreed between you and your employees when the contract was concluded. Once again, the Corona crisis has shown this as governments worldwide reacted to the pandemic with new laws and revised existing guidelines. Reacting quickly to these new circumstances can become a real mammoth task. With payroll outsourcing, however, you can be sure that the payroll is always processed correctly and up to date.
Customised solutions for you
Whether you only want to outsource payroll accounting or would like to make use of additional services, there are individual solutions for every company and every requirement. Should the payroll be provided as a printout? By mail, e-post or via employee portals? Do you need an absence manager or mobile expense reports? You formulate your wishes, and your BPO partner fulfils them.
At the same time, the outsourcing service provider has technical expertise. The technology platform used is explicitly configured for your company and can thus be individually adapted to your needs. The technical know-how is also reflected in digitalised workflows, thanks to which crises such as the current Corona pandemic can be better mastered. Suppose your data and processes are recorded electronically in a cloud. In that case, your employees can also access personnel-relevant data regardless of their location and work more efficiently from their home office.
Protect your data
If you pay attention to certain things when choosing your 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.