Brooks - A Payroll Specialist, Since 1999

Payroll outsourcing has been highly productive for companies and has been functioning since 1997. In the past five years this industry has recorded a CAGR of 15 per cent. In short, it is a win-win situation. Payroll outsourcing service For any business, managing payroll is indeed a dreadful task as it consumes a lot of man hours and is not also income generating. Employees are the backbone of every business. And businesses need to pay their staff. Payroll can also be your company’s biggest headache if it isn’t done correctly. Payroll processing is more than entering hours and printing paychecks. Simple mistakes can cost penalties and interest. In addition to keeping up with dynamic business scenario and government regulations, payroll processing proves to be time-consuming and costly tasks for most businesses. Whoever is doing your payroll whether a service provider or a member of your team must understand the relevant tax laws and regulations, all of which vary considerab...

All of these benefits can lead directly to higher retention as well as increased productivity and morale. How can you improve employee motivation in your company? The answer can be found in understanding and identifying the primary motivators in your company in payroll management services . Understanding Employee Motivators A recent study found that as employee motivation improves, the business’ stock enjoys higher subsequent returns the following year. Depending on the nature and size of a company and its workforce, there can be a wide array of motivators. Six common motivators include: •    Compensation •    Flexibility •    Time off •    Benefits •    Incentives •    Bonuses The first reason is that consistency is an important attribute for motivators and monetary motivators are dependent on the profitability of the business, which can vary from year to year. Emp...

Budget by department; While your small business might only have two or three departments, it’s just as essential to manage departmental budget as closely as a large corporation with ten departments. Look back to the previous financial year and use this to allocate each department’s budget for the coming year; where did you have leftover budget? Where did you have to dip into other funds? Which departments met their targets in payroll outsourcing companies ? Plan ahead Look ahead at your entire small business’ calendar for the whole year; what’s going to be expensive? Where can you save money? At this stage, it’s important to not only account for the larger things, such as recruiting new staff or an office renovation, be sure to also include the smaller things; these can soon add up to more than you might expect. Don’t try and overestimate or underestimate your budget, either. By rounding costs up and down, you will either cut yourself short or run out of money; ut...

Payroll outsourcing services  have proved to be a boon for small businesses. This is probably due to the fact that a small business that is just in its beginning stages spending money on activities which would not generate direct revenue can be really frustrating. 1) Time wastage:   There is no doubt in the fact that any new small enterprise that is set up has to go through handling many things at the same time. However, HR problems like  skill training  and payroll are quite time-consuming and if you are spending a decent time resolving them then probably you are not paying much attention to other much more critical activities. Whether it is trying to focus on  learning and development   of skills related to employment laws, or wasting time looking for the ideal guy to fill in a vacant opening the time spent stops you from strategizing other important tasks. If you are also doing the above it is the ideal time to look for external payrol...

HR Management is a very important aspect of business development and organisational growth. For any business to be successful, it is very important that the most important stakeholders of the business i.e. the employees, are engaged and happy. They should be capable of aligning their goals and values with that of the company. Things were easier when a company had only a handful of employees and the business development was limited to conducting existing business, with no scope for expansion and globalisation. The recent MNC culture and globalisation of companies has brought about a lot of changes in the diversity in staff and has resulted in an increased amount of expectations from the employees. With more and more gen X and Y candidates joining the workforce, the demand for employee engagement and a well structured outsourcing payroll processing  has increased considerably, so much so that when a company fails in its employee engagement strategies, it poses a ris...