How will my workers get paid? This simple question is often asked by small business owners looking to hire new workers for the first time. It may be that your startup is finally generating revenue, or perhaps you’re looking to retain full-time staff after dealing with freelancers and contractors. Whatever the case may be, you need payroll processing services.
By outsourcing your payroll services, you can ensure that you and your workers get paid on time. Whether you have two employees or 100, ensuring prompt payment of salary or hourly wages is critical to keeping your business running.
The Importance of Payroll to Your Organization
While primarily serving as a processing function, payroll services offer much more. Payroll is an integral part of your core business function. Your payroll processor is not only responsible for employees’ compensation, it ensures your business is compliant with tax and other legislative requirements. Making sure your workers are paid on time and that your business is compliant with government regulation are necessary for safeguarding your reputation. Oh, and it also ensures you don’t get any nasty visits from the IRS.
Employee Morale: The Overlooked Function of Payroll Services
One of the most vital aspects of functioning payroll is its impact on the morale of your employees. After all, you don’t want your employees asking: will I get paid on time?
In an age where many companies are struggling with toxic work environments, the last thing you want is a late or inaccurate payroll. If under-performance is an issue in your workplace, a late or missed payment is likely to make it worse. Workers need to feel assured that they will be paid on a regular and timely basis. A late or missed payment – even just one – may compromise employee morale.
Missed payments may not be a major problem for large and established companies, but can become a concern for businesses that are in their early expansion phase. During these formidable years, it’s important to set forth good business practices.
Against this backdrop, it’s important for businesses to adequately prepare their payroll well in advance. This includes accounting for the employee’s salary plus other benefits, such as health insurance, bonuses and other provisions. Therefore, getting your payments right the first time requires management payroll services.
Managed payroll is an affordable solution that can help your business streamline day-to-day operations while mitigating risks. These services not only execute your payments on time, they help you input and validate payroll data to ensure accuracy.
Managed Payroll Helps You Focus on Business Growth
If you were to process payroll directly, you’ll likely need additional resources and more employees to ensure accuracy and precision of the payments. You’ll also need a payroll software system and the bells and whistles that come along with it. Finally, you’ll need to spend hours, if not days, setting up and managing the payroll each month.
Outsourcing payroll duties to a managed service provider can help your business stay focused on what matters: generating more business. It can also help you stay lean by ensuring you don’t spend hundreds of thousands or even millions of dollars on a bloated HR department.
Managed payroll services also provide other unique benefits, such as time and attendance trackers and comprehensive HR support. These services also ensure your accounting is in order for tax season, which helps you stay on top of all your reporting obligations.
Red Door Payroll Services
Red Door Capital provides a turnkey and cost-saving solution for business owners looking to finance payroll. We take responsibility for processing checks, withholding payments and paying taxes. Our payroll services also include quarterly and year-end reporting. Not only is our payroll service web-based and guaranteed to be 20% cheaper than ADP or PayChex, we also offer a free 60-day trial period.
Our services offer numerous advantages for small- and mid-sized companies looking for an integrated solution for all their payroll needs. In particular, Red Door payroll services provide:
- Compliant payroll processing
- Basic and advanced reporting
- Unlimited support for your HR staff
- Fully outsourced solution, allowing you to focus on business
By using our payroll services, you will:
- Reduce costs: As we mentioned previously, we can save you 20% or more on your payroll processing needs.
- Increase productivity: Moving your payroll function to Red Door frees up internal staff, allowing you to focus on what really matters.
- Stay accountable: Payroll services ensure your business is up to par with IRS rules, regulations and procedures.
- Remain legally complaint: The last thing you want is inaccurate or incomplete paperwork. Payroll services help you stay up to speed with changing legislation and tax obligations.
- Offer better services: Our payroll services have a natural advantage over processing payments in-house. We streamline the entire process so that you can focus on the business functions that generate growth.
Interested in learning more? Contact us today for a consultation. We’ll help you strategize a cost-effective payroll solution unique to your business needs. When it comes to something as sensitive as payments, it’s never too early to start.
Fast, Professional Payroll
Whether you’re looking to file payroll taxes correctly or make it easier to manage holiday payments, payroll services can take the headache out of the payments process. Best of all, payroll services scale up with your business, giving you the horsepower to add employees and bonus payments quickly and easily.
As a small business owner, it pays to ensure your workers are paid on time. By proactively managing your payroll, you’ll stay organized and keep your employees happy. It’s a win-win situation for everyone.
GPayroll (December 8, 2015). The importance of payroll in an organization.
VendorSeek. The Best Five Reasons to Use a Payroll Service.