Even though we live and work in the age of cloud computing, many businesses still labor under the weight of paper-based payroll processes. But the good news is that a paperless payroll is an easy step to take.
Businesses often carry out their payroll processing without knowing what it really costs. Having payroll done in-house might seem like the most cost-effective approach, but is it?
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?"
Growing companies always face the decision to outsource some business functions because at some point the cost of keeping up can be a more costly option.
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.
Payroll professionals and HR managers use a number of tools and resources. But you should always make use of these essential payroll management tools.
[A previous version of this post was published in January 2015. While software and online apps continue to evolve, change and multiply, certain tools remain essential to effective payroll management.]