Outsourcing payroll to a different company has been a common practice among business nowadays. This is not surprising at all considering the fact that one of every three companies handling their payroll on their own are usually punished by the IRS. The biggest reasons for outsourcing payroll is that it allows for just few errors and better productivity in the human resources department of a company. While it may seem favorable that there are a number of payroll companies out there today, this actually makes it a bit trickier to choose the right one. Below are some of the things you should remember when choosing a good payroll company.
1. Evaluate and Compare Your Company’s Needs
You can start by making a list of everything you are expecting to get from a payroll outsourcing company. There are various things that such companies may offer, so it is naturally important that you first figure out exactly what services you need. Basic or ordinary payroll services normally include basic calculations for salary and tax for every employee, delivery and check printing or even direct deposit, as well as regular reports. If these basic services are not offered by the company you are considering working with, you may as well look for another firm.
2. Take a Look at Their Special Features
Outstanding payroll service companies normally come with features that are beyond the basics. Many of these special features also have proven to be really beneficial to companies. Some of the great features you may want to find are integration to the HR software you are using, 401k plan management, and others. In short, there are just so many things that payroll companies can do for your own company, so you have to make sure that you can capitalize them.
While you may say that price isn’t the only thing that matters, it still needs to be taken into consideration. After you have figured out all of the services the payroll company may offer you, you need to determine if they are asking for something reasonable and fair. Be careful also with the hidden charges or fees that some payroll companies try to charge their clients. There could be different ways that companies charge their clients, so you need to understand first what you’ll need to pay for eventually.
4. Access to Information
You need to have access to the payroll information from your service provider. How easy it will be to do this is what you should look into as well. For instance, there are some payroll companies that allow their clients to log into an account online where all the necessary payroll information can be viewed and accessed.
5. Customer Service
Just like getting any other type of services, clients or customers are always looking for great customer service. As you will be needing their assistance even after you have hired them, you would want them to attend to your needs promptly and always be around to offer you help in any issues regarding your company payroll.