Everyone is busy. It's easy to fall victim to repetitive tasks the eat up valuable time during the workweek. With a little planning and some clear vision for good time management, HR professionals can reclaim the workweek by delegating burdensome tasks to others. Payroll tops the list of monotonous tasks that must be completed, but can eat up a disproportionate amount of time. Free yourself from this time trap by embracing the concept of delegation.
Outsourcing Payroll Can Save Money
Many organizations prefer to keep payroll in-house in an effort to reduce costs. Instead, outside payroll agencies can actually improve the organization's bottom line. That's because when you delegate payroll to an outside company you receive benefits that include:
- Specialization Approach
- Better Efficiency
- Protection of private employee data
Payroll companies are keenly-focused on just payroll. While an HR professional wears many hats, a payroll company is dedicated to making your entire payroll process as efficient as possible. Their systems provide clients assurance they are compliant with federal, state, and local tax laws.
Payroll companies are categorically better at payroll than you are. Delegation to a payroll company frees up the time spent submitting tax returns, reconciling accounts for payroll and assuring accruals are correct.
And in a broader sense, outsourcing payroll can save you money on compliance fines as well as have a positive impact on productivity. If you look at the hourly cost of outsourcing payroll throughout the year, the company will spend less with an outside vendor than it would allocating in-house resources to attend to these issues.
Increase your Data Security Through Delegation
Keeping data secure is becoming a critical issue for human resources. It's a constant struggle to balance the ease of use for employees with efforts to keep their data secure. Data security efforts include keeping employee personal data safe from hackers as well as other team members.
With the delegation of payroll comes the delegation of responsibility to keep data secure. The benefit is that an outside vendor has already invested in systems and processes that allow easy access to data while keeping that data secure.
Because the outside vendor prioritizes efforts to keep data safe and usually employs staff whose sole responsibility is data integrity , they are often better equiped than an internal HR department who may not be well-versed in the realm of internet and data security.
You Are Free to do What You Do Best
One of the most important reasons payroll delegation is a huge benefit can be hard to quantify, but is still crucial. The first pay period that you can avoid the time commitment of payroll calculations and withholdings can feel like a burden has been lifted. This in turn leads to better job satisfaction and overall happiness.
Do you know the effect of workplace joy? You become even better at your job. You have the benefit of investing your time on projects that bring more efficiency and create a better workplace. Freeing yourself from payroll can reduce stress, create joy and can make your overall organization stronger.
Related Post: There is Power in Positive Workspaces