You’ve decided to take a big step forward and outsource your payroll to an automated payroll services provider. But when you actually sit down to choose that provider, it’s easy to feel overwhelmed at the wide range of options available.
How can you possibly know who will be the right fit? They all claim to be the best!
The good news is that with a little bit of legwork and due diligence, it’s possible to locate the payroll partner that’s just right for you.
Like anyone shopping for outsourced services, you probably have a “wish list” of what you’d like to see in your partner.
Here are 5 factors that should be absolute “deal breakers” if they’re not being offered:
- Employee retention
- Added services
Read on to see what to look for in a payroll partner and find the right solutions to meet your needs.
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What a payroll partner needs: Dependability
It all begins here. The whole point of signing up with a payroll services provider (or any outsourced services provider) firm is to get help in areas outside your core areas of expertise.
“Master your strengths, outsource your weaknesses.”Ryan Khan, Founder, The Hired Group
Does your payroll partner give you enough customer support? Do they troubleshoot if something goes wrong? Do they keep their promises?
If you often feel left to fend for yourself, it’s probably time to re-think your options.
With the right payroll partner, you won’t struggle to meet payday deadlines. You also won’t need to lie awake at night wondering if salaries are going to be paid on time.
Instead, you can automate your salary payments and relax. You’ll be secure in the knowledge that salaries will be paid on time and in the right amount.
What a payroll partner needs: Expertise
Before you choose a payroll partner, make sure they understand your unique circumstances and country-specific legal nuances.
This can be a tall order. Countries amend laws all the time, and it’s extremely difficult to stay abreast of all changes.
That’s where a reputable payroll partner enters the picture. A key part of their job is keeping up with tax law and employment regulations.
If your payroll provider can’t guarantee worldwide accuracy, it’s probably time to shop around for a new one.
The right partner will have a dedicated team of experts who will make sure that:
- You are compliant with all relevant local regulations
- All taxes are paid on time
- Any edge cases are solved
What a payroll partner needs: Flexibility
Does the payroll partner you’ve got your eye on offer you “take-it-or-leave-it” services, or do they go the extra mile to give you exactly what you need?
Smart partners work hard to create lasting business relationships. Your payroll partner is supposed to be there to make your life easier.
Their job is simple – to help you hire and pay people at high volume and at any level of complexity, locally and globally.
Ideally, they’ll have smart, fast, and flexible automated payroll technology backed by a human team of experts. They should be able to help you cut costs in your current market or enter any new market you choose.
What to look for in a payroll partner: Employee Retention
Nothing hurts a growing company more than losing key staff because of wages not being paid on time or paycheck errors.
49% of American workers get fed up and start a new job search after experiencing only 2 payroll issues.The Workforce Institute at Kronos Incorporated
Not only does a good service eliminate any possibility of human error, but earned wage access (EWA) services keep employees happy by breaking traditional pay cycles. With EWA, they can access their money at any time, from anywhere, on any device.
With the costs of basic necessities skyrocketing and inflation at levels not seen in half a century, it’s a benefit they’ll appreciate.
What to look for in a payroll partner: Added Services
No matter how powerful your crystal ball is, there’s no way to be 100% sure what your needs will look like even 6 months down the road. That’s why it’s worth getting together with a payroll partner that has a variety of services to offer.
When you partner with Symmetrical, you can count on a whole lot more than just the error-free, “set it and forget it” payroll that comes with our Symmetrical Payroll service.
Here’s what else you get when you work with us:
- Symmetrical Hire, which helps you meet your hiring goals with a customized and automated process that gets rid of the chaos in spreadsheets and third-party apps.
- Symmetrical Money, which pays salaries on demand and improves employee acquisition, performance, and retention.
- Symmetrical People, which gives you a golden source of truth for all employee data, and automates all workflows and people processes.
Finding a perfect payroll partner: conclusion
Choosing a new payroll provider can feel like a daunting task. If you’re still confused on where to start, Symmetrical is a one-stop shop for all of your payroll, hiring, and HR needs.
We can transform your payroll and hiring functions and eliminate the headaches associated with manual processes. This will allow you to manage your workforce and payroll data with greater efficiency and improve your bottom line.
Symmetrical is the first payroll solution you won’t hate. We enable fast-paced companies to onboard at scale and run their payroll invisibly. To run your payroll hassle-free, contact our experts to learn more!