Your employees’ happiness has a direct impact on the overall productivity, performance, and even profitability of your workplace, so it’s only right to provide an environment that encourages your team to find fulfillment in their nine-to-five jobs. While a unique, inclusive, and inspiring culture can feel motivating, nothing beats providing a workplace that guarantees stress-free payroll to their team.
Unfortunately, payroll processing can be a headache even for the most seasoned professionals. Beyond filing for taxes, other duties can become a major bottleneck to your daily operations. That’s why many businesses opt to outsource payroll services since it can take a large portion of their plate and ensure your investment generates value for you in the long run.
Here’s how outsourcing payroll processing can transform your business in more ways than one:
Benefit #1: Ensure Government Compliance and Avoid Risks
One misstep in your calculation can leave you vulnerable to audits and penalties, but keeping up with something as complex as tax law is even trickier since regulations often change throughout the year.
On top of paying federal and state income taxes for your employees, you also need to think about their Social Security, Medicare, unemployment wages, and more. But when you outsource, you’ll be working with professionals who undergo ongoing training to stay up-to-date with the industry.
They’re required to refresh their knowledge for a minimum of 20 hours a year to maintain their credentials, so you can have peace of mind knowing that your chances of experiencing complications with wage, tax, and hour laws are little to none.
Benefit #2: Improve Privacy and Security
Manually handling the payroll is not only arduous, but it can also introduce security risks. On the other hand, Outsourcing payroll services ensure all your reports are encrypted and stored in the cloud.
Outsourcing also offers employee self-service, which allows your team to check stubs, stub history, and even W2 distribution whenever needed. As the business owner, you also don’t have to worry about your records falling into the wrong hands since employees will be directed to a password-protected website for all their financial concerns regarding their payroll.
Benefit #3: Leverage Tax Benefits
Without a dedicated accountant or payroll professional, your business may end up skimping on money-saving opportunities such as tax credits! These often vary from state to state so staying on top of all the credits can be confusing, but a reliable outsourced payroll service provider should help set up your system and integrate all the possible tax credits you can leverage — be it a 25 percent off for non-vacation time offs or Federal tax credits for health-related leaves.
The Bottom Line: Letting Outsourced Experts Handle One of the Most Time-Consuming Tasks in Business
There’s no doubt that the accuracy and speediness of your payroll processing can make or mar your employees’ satisfaction, so it’s crucial to nurture an environment that inspires productivity and pleasure in the workplace.
Instead of exhausting precious time and energy into calculating hours, leaves, and filing taxes on top of your employee payments, outsourcing payroll services should ensure a smoother and drastically simplified process.
How Can Head Start Biz Solutions Help Improve Your Business?
Are you looking for ways to increase your productivity and leave more room on your plate for more important tasks? In that case, Head Start Biz Solutions can offer you real solutions to your dilemmas! We’re one of the best payroll processing companies in Virginia, but we can do more for your business than just help you crunch numbers.
Our services include payroll services, customer relationship management, credit restoration, lead generation, business formation, tax services, and more. Let us handle the administrative work to focus on doing what you do best to bolster your professional growth!