No one really enjoys the work of payroll management. And, while it's an essential part business operations, there are certain indicators that can be signs that it's time to outsource the payroll operations.
If your business is like most, you may have already considered outsourcing certain functions. Often it's the more time consuming, but non-operational tasks like building maintenance and cleaning. Most businesses will outsource their tax filing, as well as soon as possible.
Outsourcing is not a new idea, of course, and most business owners and managers understand the inherent value of delegating, or outsourcing, tasks. However, when it comes to something as substantial as outsourcing payroll, the question that is usually asked is, "How much is it going to cost?"
When most businesses are in their beginning stages, payroll management is typically a fairly simple task. Often, depending on the size of the start-up, it can be the owner managing payroll. The bookkeeping is usually straightforward, and payroll consisted of the owner and maybe just a few employees.
The larger your company becomes, the more time-consuming and complex your payroll functions become. And the never-ending parade of federal and state regulations and changes doesn't help.