30 NovWhy outsourcing payroll may be ideal for your business
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Managing payroll and ensuring compliance with modern awards can be time-consuming and stressful for anyone operating a kindergarten or early childhood centre. It can also detract from time that could be focused on educational activities. For these reasons and more, payroll is an ideal candidate for outsourcing. In addition, whether you’re a large operator or small business, outsourcing part or all of your payroll process can deliver significant cost-savings.
Consider the following factors and think about whether outsourcing could be right for you:
●cost and time-savings – businesses often use payroll software to avoid outsourcing fees, but might not account for the cost of time spent on payroll tasks. Also, as your business grows, in-house payroll becomes increasingly complex and time-consuming
● legislation – running payroll in-house means greater exposure to regulatory authorities and potential fines. Your payroll team must maintain the skills needed to remain compliant
●types of staff – in-house payroll quickly becomes complicated when dealing with casual workers, or if employees are billed hourly, driving up time spent on payroll and increasing the risk of human error
● integration – payroll has many moving parts and outsourcing to the right provider can help you integrate related functions like time and attendance, saving you from entering the same information over and over again and helping to reduce errors.
If you’d like more information to determine whether outsourcing is right for you, read ADP’s full guide on why to outsource payroll.
