Are you a small business owner who's wondering if you should get an online payroll service to take care of your employees' payments and other payroll processing needs? Even if you only have one employee, it's highly recommended to get some sort of payroll service to take care of their weekly or monthly payments.
This is because, as a business owner, you have a thousand other things calling for your attention. You want to spend your brainpower on building growth strategies and powering up sales rather than worrying about your employees being paid on time.
Let's read on to see why the best payroll service providers are online.
How many hours a week are you spending on HR processes like payroll and other related tasks? Would your time be used more effectively elsewhere?
A payroll online service center can take care of calculating your employees' paycheque each pay period. They can account for all the various things that affect paycheque like:
Can you imagine how much time you would have to spend to figure out all these details on your own? Hiring a payroll service company is worth every penny as you don't have to deal with the hassle of calculating your employees' pay each period and then figuring out their direct deposit details.
Some payroll tax-related tasks have to be performed quarterly or more frequently than that. Some of these are:
Merely thinking about all doing these tasks on your own is assuredly giving you a migraine. That's why a payroll service company that can take care of all these details for you is so valuable.
Some online payroll service providers will even offer an error-free guarantee, so if they commit an error in processing taxes, and you end up getting fined by the government, they will correct the error and pay any accumulated interest or fines.
Did you know that you have to report new hires to the US government within a certain timeframe? If you are too busy fighting fires in your business, you might forget that that's something to add to your to-do list.
Thankfully, an online payroll service will take care of this for you as well!
If your business is using a wide variety of other software, like time management software, or HR and accounting software, then you can rest assured that your online payroll service will integrate seamlessly with them. You will not have to enter information in two separate software to take advantage of them.
How do you keep track of your employees' vacation and sick hours? Do you know much time off your employees have requested already and how much they have leftover? Do you have an approval process for all this?
That's where an online payroll service company comes in. They can help you with all the tasks above and more. You don't want to get into an argument with your employee because they think you owe them more vacation hours but you don't agree.
Automating all this with a payroll service will take care of the nitty-gritty details and is the best way to go for a busy small business owner like you.
The brilliant thing about hiring a payroll online service center is that they have a self-service portal where employees can create a login, and access a bunch of different items, like:
They can also go into their account and request time off or see how much vacation and sick leave they have already accrued.
You don't want your employees frequently coming over to your HR team or emailing the only HR person in the company asking them questions about their payments or vacations. That would be a huge burden on your HR team and will also result in a lot of wasted time.
Some online payroll services also have mobile apps which makes the whole process even easier. All your employees need to do is download the app on their smartphone or tablet and they will know exactly where they stand on all HR-related matters.
There are dozens of payroll reports (wage and labour reports being some) that you can pull from the data that your online payroll service provides for you. You can use these reports to gauge the health of your business, and the satisfaction levels of your employees. It will also give you a deeper look at how your business operates.
With an online payroll service at hand, you won't have to spend hours or days every month focused on and dealing with payroll processing tasks. Your HR processes will be simplified as well, so your HR team can spend time on hiring and finding good workers instead.
Too many small business owners get bogged down by administrative tasks related to payroll and forget the joy and excitement with which they began their business. Don't let that happen to you.
Contact Ignite HCM today to discuss your HR and payroll support needs. We have more than 30 years of payroll processing experience that we would like to bring to your business. No matter your size or needs, we are ready to help you out!