Benefits of Outsourcing Monthly Payroll

Outsource your Payroll do more than save time

One of the major variable expenditure of any organization, which account for almost 50% or more of its revenue, goes in employee’s salary. If we calculate the cost and risk involved around HR payroll, it becomes imperative to have a structured plan to streamline the recurring process and so to avoid month-end chaos.

When to consider outsourcing your Payroll service

Whether you have one employee or hundreds, you must follow the formal procedures that go into paying them as per the wage structure. You can perform these payroll tasks in-house, or you can outsource the process by turning it over to a professional payroll service.

Since running payroll is tedious and time-consuming, so outsourcing seems a better option. Here, are listed top five reasons for you to outsource this service:

Error and Complaints:

If you are getting too many errors and lots of queries coming from employees related to their salary structure, tax calculation, payslip etc., it’s time to think of changing your existing payroll service provider or bring one to the system who understands your pain and work as a partner with you to ease your month-end chaos.

Employee satisfaction:

In a competitive world, attracting and retaining top talents is not an easy task for any organization. In such a scenario, if your staff is overworked or not trained enough, chances of delayed payroll month on month are high which may ultimately lead to dissatisfaction among your employees.

Payroll compliances:

Payroll compliance is complex because several changes are occurring frequently like revision in minimum wages, PF & ESIC rules and complicated forms to fill out. Missing any deadline may attract a heavy penalty.

Data Protection:

Payroll processing means dealing with lots of data like Personal Information of employees, salary details etc. and dealing with this is considered to be a potentially risky and complicated business operations. Potential danger may include identity theft, data breach, or even tampering with company records for personal gains.

Cost saving:

Processing payroll in-house may be a costly affair as you need various things in place like Computer equipment, Payroll software, and workforce to run the show. Additionally, the team must keep themselves updated all the time with all the changes taking place, whether it’s a new tax policy, various deadlines for challan submission or missing any important deadline which may attract penalties.

Outsourcing payroll to a professional service provider can help your company achieve a number of objectives in the long term. If you would like to know more about how outsourcing payroll can help your business, we encourage you to contact us. We would love to have a conversation with you to learn more about your business and how we can help!

This article is written by Mrityunjay Jha from Manpower India.

Communications Team
The communications team at ManpowerGroup publishes incisive blogs, articles, and white papers that are deeply rooted in the developments of the world of work. If there is a topic you would want us to address, please contact us at [email protected].
Do share this article if you found it interesting.

Outsource your Payroll do more than save time

When to consider outsourcing your Payroll service

Error and Complaints:

Employee satisfaction:

Payroll compliances:

Data Protection:

Cost saving:

Other content in this Stream

Gender should be defined by the people who live it. It’s important not to “misgender” your co-workers by referring to them with the wrong pronouns. In English, the most commonly used pronouns (being he or she) refers to a person’s gender.

June is Pride Month, celebrated all around the world, and at ManpowerGroup we are proud to show our support to the community. Pride Month is widely recognized as a time to celebrate diversity and inclusion and show allyship to members of the lesbian, gay, bi, trans and queer (LGBTQ+) community.

Who really uses payroll service providers in India? Why should you be using them too? Here is a blog guest authored by Sameer Mehta from Manpower on how your organisation could benefit from implementing payroll management system.

The idea of considering an employee’s career as a whole and designing various sets of formal trainings, developmental activities, and relationships at each of these stages is known as career development.

An agile workforce is the only way to succeed in the future of work.

The current world of work has seen a radical change due to the proliferation of Social Media. Millennials put a lot of importance on employer’s Brand

There is a famous saying that one thing that is constant in life is ‘Change’. One place where this saying is completely apt is the workplace since the skills that were in demand couple of years back are no longer in demand.

Learning from experience is the best way to develop talent. Yet most organizations aren’t maximizing on-the-job opportunities that prepare leaders, develop employees, and advance business goals.

In this era of speed, agility and highly competitive environment, employers have shrunk their wait time for inducting a newly joined employee into the main stream business. The earlier the employee gets into the groove,

For a new hire, the first few weeks on the job are critical; it is exciting and scary, kind of like doing the tango. It can make all the difference in their first impression of the employer and in how long they decide to stay with a company.

High potential employees are a hot commodity in today’s world of work. Are your leaders doing everything they can to identify, challenge and retain the high potentials in your organization?

Are you looking to become more productive at work? Follow these tips to eliminate productivity killers from your workday.