Outsourcing Payroll: The remedy for small business headaches
Companies with 25 full-time employees waste 100 person hours per year on manual payroll processing and exception handling.1
Accurately withholding calculations for regular or supplemental pay is a challenge for 49% of business owners.2
As many as a third of employees make mistakes on their payroll taxes.3
Payroll error root causes are bad data entry at 44%; lack of standard processes at 40%; and retroactive entries and corrections at 27%. (Source: Global Payroll Management Institute, Global Payroll Week “Getting the World Paid” Survey, 2020)
Only six percent of organizations use automated payroll processes4 although automation helps businesses reduce payroll costs by up to 80%.5
Small businesses considering outsourcing have specific goals:
We’ll help you find relief for employee payroll processing. Contact your Relationship Manager for more details.
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