Why Should You Outsource Your Payroll?

HR employees play different roles, for example, a generalist, recruiter or learning and development coordinator. Another HR role is to manage payroll, but most companies that lack HR resources do not have specialists to handle this process.  

If you’re facing the same dilemma, here’s Why You Should Outsource Your Payroll: 

Save Time

Outsourcing payroll is an easy way to increase company efficiency by offloading the administratively heavy task. Instead of spending hours every pay cycle on payroll processing, HR teams can focus on achieving more strategic objectives, like talent retention and increasing employee engagement. 

Reduce Costs

As companies scale, they can save money by outsourcing payroll instead of hiring specialists to manage the process, that is becoming more time-consuming. Companies also save the costs of purchasing cloud security and assigning IT personnel to monitor their payroll software. 

Payroll outsourcing service providers have their own software for the purpose and a dedicated professional team. Their experience and technical advantage will fulfil your payroll needs, including compliance, at a cost-efficient price.   

Minimise Compliance Risks

HR agencies that help clients to manage payroll are familiar with local labour regulations. They ensure clients’ payroll is on par with domestic and multi-country compliance standards, including tax-filing matters and employer’s contribution to a pension or retirement fund. 

These agencies can review and improve employee benefits on behalf of their clients to increase employee satisfaction. So, speak to your payroll outsourcing service provider today to communicate your compliance and other payroll needs.  

Enhance Data Security

Big data is a crucial asset for business organisations in the digital age. In the payroll aspect, HR agencies have their own software with cloud security to ensure the data safety of clients’ employee remuneration records.    

These agencies will collect data to generate accurate reports for your organisation. People data collected throughout the payroll process are presented in the form of analysis or statutory reports that are easily accessible.

 

Choosing an agency to outsource your payroll can be complex but with TG Group, it doesn’t have to be. 

Send your enquiries to infosales@tg-hr.com to discuss how we can take over your payroll responsibilities to help you focus on business growth.