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In-House Payroll vs. Outsourcing Payroll Services

08/23/2017

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Payroll is arguably one of the most important HR responsibilities for an employer, especially if you were to ask the employees. Your employees should be compensated for their time, and they expect to be paid in a responsible and timely manner. For companies that may not have a designated payroll professional on staff, the task of payroll processing can be frustrating and time-consuming for the employer to manage. That’s one of the reasons many employers seek the assistance of an outsourced payroll provider.

Outsourcing payroll services can offer several benefits to employers. Not only can it save much time and energy, but employers can rest assured that payroll outsourcing agencies will keep all processes and procedures in compliance with laws and regulations, avoiding any potential penalties for even the smallest mistake. If you’ve been on the fence about keeping your payroll in house or trusting outsourcing professionals, here are a few things to consider.

Company Resources

Something every employer must consider when deciding between in-house payroll processing or outsourcing is company resources. If an employer doesn’t have the proper technology, professionally-trained staff, or ability to maintain payroll records, it is probably a good sign that outsourcing payroll duties is the best way to go.

Data Security

Employers must take every step to ensure employee data is kept safe and secure at all times. A payroll outsourcing company is equipped with the proper tools and tactics to protect sensitive employee data.

Tax Compliance

A payroll outsourcing company can properly ensure the filing of federal, state, and local tax returns, while also processing payment for all payroll tax liabilities. Employers can also benefit from a payroll outsourcing agency’s on-time responses to tax agency inquiries.

Employee Self-Service

Most payroll outsourcing companies offer employees online self-service capabilities. This technology provides convenience for employees who need quick and easy access to their personal pay information. Many of these companies also offer employers timeclock interface tools and apps to make for a more user-friendly experience for employees.

LBMC Employment Partners provides accurate, cost-effective payroll and payroll tax solutions that allow employers the time they need to effectively run their businesses rather than dealing with payroll processing issues. Our goal is to provide employers with peace of mind, while reducing risk in the complex areas of payroll processing and payroll tax compliance. To learn more, contact us today! 

Posted in: Payroll, HRO, PEO
Tagged with: payroll outsourcing
In-House Payroll vs. Outsourcing Payroll Services