Employers often see payroll as a simple, regular process. True if everyone is salaried, works in one state, and has no garnishments. But complex wage calculations, multi-state taxation, child support orders, levies, or various reporting requirements can quickly complicate payroll. Payroll is simple until it’s not, and that is when outsourcing makes sense. Payroll outsourcing can ensure compliance, maximize system integrations, and save you time and money by eliminating costly errors. If any of the below applies to your business, it may be time to consider payroll outsourcing.
Wrong People Running Payroll
Due to their limited resources, small and mid-market businesses don’t have a payroll expert. Payroll is either run by a skilled executive (Controller, CFO, etc.), spending their valuable time on administrative tasks. Or, an administrative employee (bookkeeper, HR, etc.) runs payroll without the training or experience to avoid common errors. If either of these are your situation, payroll outsourcing is a great solution.
Employees in Multiple States
Remote workforces have become increasingly common since the pandemic and show no signs of changing. But with remote workforces come increasingly complex tax set ups and maintenance. Since workers are taxed where they work, remote workers are taxed where they live and that means managing new state, county, and/or local tax set ups, filings, and compliance challenges. Outsourcing to a payroll expert gives you advise and support to manage the process and eliminate errors.
Plans for Rapid Growth
Laying the groundworks early is the key to success when growing quickly. Effective planning and efficient processes ensure your growth is smooth and sustainable. A payroll expert coaches you through what needs to happen and lays the groundwork for you to achieve long-term success.
Eli Payroll Advisors are experts at implementing and processing payroll. We minimize errors and problems while saving you time and money. If you have questions on payroll outsourcing or want to learn more, contact us today!
