Payroll outsourcing services you can trust to mitigate risk and cut costs.
Eliminate errors, expect precision, leave the details to us.
Learn how payroll outsourcing can save you time and money.
When it comes to paying your employees, you can’t afford mistakes. You also can’t afford to lose valuable HR time spent on administrative tasks when your team should be driving strategy.
Benefits of Outsourcing Payroll
Better allocate resources
Payroll is time consuming. It’s the least strategic aspect of any HR function. By outsourcing the administrative headaches that come with payroll, your HR team can develop crucial, employee-related aspects of your business to help you attract and retain talent.
Companies who outsource payroll show a 22-34% cost savings over managing payroll internally. Outsourcing can also prevent costly fines that occur from incorrect payroll processing.
It’s crucial to protect sensitive employee salary information. More often than businesses like to admit, there’s no way to monitor whether your internal team is inappropriately sharing confidential information. An outsourced solution can give you the security and peace of mind you need.
The majority of payroll is handled by one or two people internally. What happens if they leave? Is it really crucial to have an entire role or roles dedicated to this task? Are people within your organization doubling or tripling up on payroll approval? If so, your process isn’t as efficient as it should be.
Your payroll person knows the numbers, but they aren’t always well-versed on the latest rules and regulations, especially when your team might work in multiple states. An outsourced partner can ease compliance concerns.
What can payroll outsourcing companies do for you?
A better process to ensure employees are paid correctly and on time.
- Automate tax withholding and reporting
- Integrate with timesheets and attendance systems
- Compliance checks
- On-time delivery
- Dedicated onboarding support
- Cloud-based interface
- Support across the employee lifecycle
How to pick the right payroll solutions provider.
Can your payroll provider help you scale?
Your payroll provider can take over tedious tasks that can help you onboard new employees quickly. If you’ve experienced recent expansion, it’s crucial to get your team up and running fast.
Do they work with a variety of industries?
Employee payroll needs transcend industries. It’s good to look for a provider with experience in a variety of industries from manufacturing, to nonprofit, to finance. That way, they’ll understand your unique pain points.
Can they take on any size client?
A good payroll provider should work with a mixture of small, mid, and large businesses. Their processes and technology should scale with you even if you grow quickly.
Do they have a clearly defined process?
Look for a managed payroll provider that has a successful track record of working through an established process. Can they assist with onboarding, ongoing tax processes, and eventually offboarding?
Are they experts in compliance?
Learn how your outsourced HR provider keeps up with rules and regulations across state lines. Can they advise you and inform you on local and federal regulations? Will they take action to keep you in line?
Payroll administration is the least strategic and most time consuming part of my team’s responsibilities; it was the perfect place to start outsourcing.
Payroll Processing Trends to Watch in 2020
Based on a recent article from Entrepreneur Magazine, one thing is clear: outsourced payroll processing is here to stay and it is growing — fast! Here are a few trends to look out for in the coming year:
1. Automation: Being able to track and automate key functions for onboarding and offboarding clients not only makes life easier, it ensures better compliance. This will be a future trend companies use to make sure they are checking all regulatory boxes.
2. Data privacy: Perhaps nothing is held more secret and sacred than company financials. Payroll is a company’s largest expense. It’s imperative that an employee’s information and records be kept on a secure platform. Companies will start to value privacy more.
3. Technology: The need for integrated systems that “talk” to one another has never been more crucial. HR teams want visibility into all aspects of their employee functions without logging into multiple platforms. You’ll see a growth in technology solutions that handle everything from payroll to benefits to time and attendance reporting.
Payroll Providers FAQs
Managed payroll onboarding with Corban One
Our team works hand-in-hand with you throughout the process. We bring a team with a combined 100+ years of industry knowledge, and customize a plan to meet your unique challenges. We begin with an audit to determine the best course of action. Then we come up with a plan that you approve.
Our payroll processing process follows a few steps: we’ll integrate our proprietary software with your companies information. We’ll set up your bank account and your employees bank accounts for direct deposit. We’ll conduct the necessary new hire paperwork on your behalf, with a focus on compliance. We’ll take a look at how you currently track time and either propose a new solution or integrate your existing one. We confirm that hours worked are correct. When we process your payroll, we’ll pay special attention to pre- and post-tax reductions. Next, we’ll pay your employees in the way they choose — either direct deposit or mailed checks. Finally, we’ll pay all taxes and insurance when due. We alert you on any changes in rules and regulations so that you have the necessary details to stay compliant with payroll tax and employment regulations. We provide full reporting and visibility along the way. We can often accomplish all of this in a more efficient and cost effective manner than internal solutions.
HR outsourcing services built on trust
Payroll compliance is one of the most overlooked, yet crucial aspects of running a smooth business. A missed or late payroll error can hurt morale and productivity more than anything else in your company. You need a solution you can trust with your most important resource — your human capital!
Corban One prides itself on exceptional service. Your employees can call our team and get a human on the phone quickly. You’ll have full transparency on all of your employee payroll information in a secure, cloud-based interface that you can log into 24/7. We’ll assign a staff member to you so that you have a point of contact at all times.
We have a track record of building long-term relationships based on a customized model that meet your needs, even if they grow or change over time.