If your small business is looking at ways for reducing risk, increasing productivity, and spending more time developing new clients you might be consider using payroll outsourcing benefits. Wither help of these services, in fact, you may find that you can avoid many tasks that in the past had been quite time consuming and confusing. Even larger companies find that pursing payroll outsourcing benefits is worthwhile.
When was the last time that you were able to finish all of the end of the month tasks at your office? From payroll to benefits to calculating vacation days available and vacation days used, payroll tasks are often the ones that take up the most time. Finding a way to outsource some of your tasks is, however, a step that many owners of both large and small businesses take. A third party payroll company, for instance, can help you make sure that you are not personally at risk of expensive mistakes that grow even more costly over time.
Risk management, as well as efficiency are, in fact, some of the most effective ways to deal with business growth. By working with HR consultants who can help you make decisions that will allow you to continue to focus on growing your business. Consider some of these other statistics about consulting firms and how outsourcing benefits businesses of all sizes:
- $11 billion is lost every year because of employee turnover.
- One way to avoid the expensive costs of employee turnover is to work to improve employee retention. For instance, 86% of companies with employee recognition programs indicate that they see an increase in worker happiness.
- 45% of employers indicate that the amount of time it takes to fill open work positions has increased since 2014.
- 72% of job candidates cite advancement opportunities as the top reason for changing jobs, with better compensation packages and better company culture coming second and third, according to the 2016 Recruiter and Employer Sentiment Study by MRINetwork.
- 75% of hiring managers use ecruiting software or applicant tracking to improve their hiring process.
Finding a way to us your time at the office effectively is the goal of many managers and company owners. By outsourcing payroll, many managers and owners find that they are able to avoid risk of error, increase productivity, and have the time to develop new clients, products, and services.