The main motivational factor that drives employees to work, is without a doubt their monthly wage.
In this case, the Human Resources Department plays a vital role in any organization. However, in this current technology and digitalization era, it is a difficult task to take care of employee management, payrolls and all other administrative tasks as the employees are very concerned about their job satisfaction and willing to switch jobs that give the complete satisfaction and trustworthy employer. This will be a great challenge for the Human Resources Manager of any organization.
The Human Resources Manager has many crucial and forward thinking on handling such challenges. Hence, the organization can take away and outsource certain repetitive tasks such as monthly payroll processing to the outsourcing service providers.
Let’s dive in. What is Payroll Processing and Outsourcing?
Payroll processing involves computing a list of the employees that need to be reimbursed for their services on a certain periodical basis as per the company policy. It also includes tracking of the employees working hours, shift works, overtime, holidays, annual and medical leaves and subsequently the statutory deductions as well as any other deductions deemed required from time-to-time. All these tasks consume lots of valuable time of the entire Human Resources Department and outsourcing these tasks enable the focus on the core business activities besides saving their operational cost.
Nevertheless, due to the various complexities involved in the computation, many businesses opt for outsourcing payroll to a outsourcing service provider to manage the entire task in a very professional manner.
Here are some benefits of Payroll Outsourcing that the company can enjoy:
- Hassle free experience as management view the final reports
- Cost saving in the periodical training the HR staff required to attend
- Outsourcing service provider process for many clients, hence huge cost saving can be obtained
- Very well experienced in the payroll processing, hence deliver quality and accurate services
- Outsourcing service provider’s staff are duly trained with up to date labour law
- Company do not require to invest or renew the software / license fee
