If your company is expanding, you may need to hire a professional company to outsource your payroll. To complicate matters, there are dozens of payroll providers out there, each vying for your business. Remember to ask these 10 questions when outsourcing payroll to find a provider that works for you.
1. What steps do they take to keep your data secure?
According to a report by the Information Systems Audit and Control Association (ISACA), more than 60 percent of managers don’t think their staff can handle anything beyond simple security breaches. One of the benefits of outsourcing payroll is the added security; does your new payroll provider offer it? Make sure they know what they’re talking about to keep your data safe.
2. What process improvement methodologies are in place?
Does the provider you are considering have a defined plan for process improvement (Six Sigma, 4DX, etc.)? How are things going to be better by outsourcing your payroll and is there continual process improvement? Your provider should be able to give you concrete examples of improvement processes and projections.
3. What training and transparency does your service provide?
You’re outsourcing payroll, not giving away the keys to your company. Learn how your payroll provider will train your staff on their platform and check to see what levels of transparency they offer.
4. What other platforms do your payroll tools integrate with?
The goal of outsourcing payroll is to save your accounts team time. The last thing you want is to add to their workload because your timekeeping services won’t sync up. The more systems a payroll provider integrates with, the more you can automate your payroll process.
5. What additional tools does the payroll provider offer?
Can your new payroll provider do more than an in-house employee could? Ask about additional insights their system has access to that can help improve your operations. Their data management systems may be able to shine a light on your employee turnover or absenteeism rates.
6. Who is dedicated to serving your payroll account?
Make sure there is at least one person who is dedicated to your account who you can call when there is a problem. You don’t want to be treated like a number when there’s an immediate problem you need to address.
7. How available is your team in the event of a crisis?
The other reason to ask about a dedicated representative is so you have a contact during a crisis. Will you have on-call support on holidays or weekends? How quickly will your payroll vendor respond?
8. How will employees be supported when it comes to having questions?
More companies than ever work with employees all over the US and each of them will have questions regarding their paycheck, W2 or other payroll related questions such as, “I am in a mortgage office closing on a loan and I need a copy of my last paycheck to buy a house.” How will your employees be supported so their managers and administrative staff get these daily questions off of their plate?
9. What happens when I start to scale my business?
According to TD Bank’s annual Small Business Survey, 22 percent of businesses who plan to hire additional staff in 2018. Ask how your payroll provider handles a growing business. Do you pay-per-employee or will you be expected to move to a higher tier at certain growth levels? You may not be able to afford their services if you pay more when you hire additional staff.
10. What termination agreement do you have in your contract?
Some payroll services offer month-to-month contracts, while others require 90-day or even six-months notice. This will help you understand the financial risk you take by choosing this payroll provider.
Never sign with a payroll provider unless it meets all of the needs of your company. You owe it to your entire staff to choose a payroll system you can trust.
We’re happy to answer these questions, and more. Give us a call today at 1-844-267-2261. We’ll connect you with a payroll expert who can help you determine if Corban OneSource is the right payroll outsourcing solution for your needs.