Did you know that 49% of workers will begin a new job search after two paycheck errors? (Kronos) Inaccurately compensating an employee for their work not only initiates an awkward conversation but also creates a significant level of distrust between the employer and employee. Without taking a step into an HR professional's shoes, it's easy to underestimate the complexity of hiring and implementing payroll. For this reason, payroll is one of the most common outsourced HR functions. To break it down, outsourcing payroll is when a business delegates a portion or all of its payroll procedures to a third-party service provider. Here we lay out three key reasons to consider outsourcing payroll to a recruiting firm.
Prevent The Hassle
Just hired in a contract or direct hire employee your staffing agency sourced for you? This is exciting news to receive but consider taking precautions during the onboarding process. Instead of putting the individual directly on your payroll, consider letting the recruiting firm handle the workload for you. A new hire on a staffing firm's payroll prevents the hassle of letting them go on your end, whether it be planned in a contract or not.
Build Efficiency
Time is money, and implementing help from professionals can help build efficiency in your business. Relieving your company of this sector can allow them to focus on critical areas that aren't repetitive tasks like W2s. Considering the recruiting firm would already have a handle on your needs and business structure, implementing payroll becomes a much smoother onboarding process. Dealing with one outside provider instead of multiple is a smart move in the long run.
Save Money
Between purchasing updated software, the number of hours on paperwork, and knowledge of regulations, payroll in-house can get costly. You may find yourself surprised that you can use an outside source and possibly save money at the same time. Consult the recruiting firm you are considering on their pricing, as it will vary depending on the employee total!
Avoid Errors
Unpredictable tax burdens, changes in government regulations, employee-related overhead burdens, and a less-than-consistent business environment all combine to make hiring a sometimes risky proposition. Having a recruiting firm payroll current employees or new hires you have identified can help eliminate these risks. These kinds of errors are not cheap and hiring a professional will leave them liable instead of you.
Let Us Help You
Ready to find a payroll solution? Integrated Talent Strategies offers Payrolling as one of our six professional services. We are your one-stop employment solution, meaning we are flexible and adaptable to all of your staffing and payrolling needs. That's why 75% of our clients have stayed with us for over ten plus years.
Why choose Integrated Talent Strategies?
ITS is your one-stop shop for all of your staffing needs across the United States and Mexico. Using a company like ITS is the best way to deal with Overcoming Staffing Shortages. We offer a variety of services, including Contract Staffing/Temporary, Contract-to-Direct Staffing, Direct Hire Staffing, Executive Search, Recruitment Process Outsourcing, and Payroll. Take a look at one of our case studies to further visualize how we can help you grow!