We Can Help Manage Your Payroll
During transitional times, including high turnover, you need to support your workforce more than ever. The last thing you need is an inefficient or ineffective payroll process – people getting paid late or incorrectly, their PTO reported inaccurately, or similar red flags that may point to overall business instability.
- You should be building greater certainty within the ranks, as managers and employees are likely doing double duty to fill gaps caused by resignations and/or train new hires. Even in the best of times, problems with paychecks happen. The Workforce Institute reports that an estimated 82 million Americans – or more than half the country’s workforce – have experienced problems with their paychecks during their career. The frequent reason: employers who, through no fault of their own, lacked the necessary level of expertise in payroll management.
- You need to restabilize your staff retention rate and uphold your employer brand image. You know how fast word spreads. Top talent will steer clear of organizations with a negative reputation for taking care of their people – and what could be more important than ensuring they are paid as promised? Things can quickly spiral out of control.
How Outsourcing Can Help
Periods of high turnover are hard to navigate. As a business leader, you can make a major difference by providing your team with the support and resources they need to succeed, especially in difficult times. In doing so, you help mitigate the impact of employee churn and keep your reputation intact. Effective payroll management plays a significant role. For many businesses, that support is found in a trusted outsourcing partner.
KeyHR can work with you to handle the following:
- Tax Deposits and Filings
- Direct Deposit
- Check Signing and Insertion
- Employee Portal Web Access to Earning Statements
- Time Off Accruals
- Year-to-Date Information
- Garnishment and Child Support Withholding and Remittance
- New Hire Reporting
- Payment of Social Security, Medicare Taxes
- Federal Withholding and Federal Unemployment Tax
- Payment of State Withholding Tax, State Unemployment
Tax, Disability and Local Taxes
Reports we can provide include:
- Payroll Check Register
- Job Cost Report
- Certified Payroll
- Deduction Register
- Detailed Listing of Liabilities
In addition to helping you meet your payroll processing needs on an ongoing basis, our track record has shown savings of 20 percent to 40 percent for our clients. This includes:
- Payroll errors avoided: Besides leading to the wrong net pay issued to employees, payroll mistakes can include incorrect government taxes paid. Both are undesirable and costly for your business and negatively affect the accuracy of your accounting system.
- Penalties avoided: Late or inaccurate salary payments can result in IRS penalties – our records show that about a third of employers have felt this pain.
Let us tell you more about the services we provide in payroll, as well as other areas to assist small to mid-sized businesses, including PEO, employee leasing, benefits, and insurance needs.
- Posted by admin
- On April 5, 2023
- 0 Comment