{"id":9537,"date":"2023-06-29T09:00:51","date_gmt":"2023-06-28T23:00:51","guid":{"rendered":"https:\/\/missefficiency.com.au\/outsourcing-payroll-5-ways-it-can-help-you\/"},"modified":"2024-02-14T13:42:26","modified_gmt":"2024-02-14T03:42:26","slug":"outsourcing-payroll-5-ways-it-can-help-you","status":"publish","type":"post","link":"https:\/\/missefficiency.com.au\/outsourcing-payroll-5-ways-it-can-help-you\/","title":{"rendered":"Outsourcing payroll – 5 ways it can help you"},"content":{"rendered":"

When you start a business, you\u2019re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more team members. Before you know it, what was once a very straightforward task becomes a giant undertaking that\u2019s sucking up most of your time.<\/p>\n

This is when outsourcing payroll makes sense. While this is yet another cost to consider, it\u2019s actually a great idea that easily pays for itself. Here are the ways outsourcing payroll can help you:<\/p>\n

1. Free up your time<\/span><\/h3>\n

In any small business, there is a lot of legwork that comes with running payroll. The percentage of time spent on it is quite large compared to the other aspects of your business. This is because it\u2019s a complex task that needs to be done every single week \u2013 forever. You may feel that payroll is never done and that\u2019s because it truly never is.<\/p>\n

Outsourcing payroll is one of the easiest ways to free up more of your time, which can then be put into other tasks that actually help your business thrive. Once you reclaim this huge chunk of time, you\u2019ll wish you made the switch sooner.<\/p>\n

2. Reduce errors<\/span><\/h3>\n

Yes, there are the actual hours worked that you need to account for. That\u2019s complicated enough. But add in sick days, holiday pay, other types of leave, team members leaving early or arriving late, allowances, Single Touch Payroll, superannuation, payroll tax, workers compensation and other complications, and suddenly your payroll has become a daunting task that you would probably rather just ignore.<\/p>\n

This is where the beauty of outsourcing payroll comes in. Because you are paying a professional to worry about all of these little things (some not so little!), you no longer have to worry about all of the potential areas where you could make a mistake.<\/p>\n

And the thing about a payroll mistake is that it typically takes even more time and energy to fix. Not to mention, you likely now have to assuage a disgruntled team member!<\/p>\n

By outsourcing payroll, this mammoth task is simply done for you, and done correctly. Every single time. And that\u2019s good for you and good for your team.<\/p>\n

3. Reduce costs<\/span><\/h3>\n

While you may initially balk at the cost of outsourcing payroll, it\u2019s actually a money-saver. When you put a dollar amount on all of the time you spend struggling through, this is often enough in itself to pay for a pro to take it off your hands.<\/p>\n

Not to mention, the cost of fines and penalties that can arise from mistakes, non compliance or late lodgement. If you find yourself having to cough up money in these circumstances, you\u2019ll wish you outsourced your payroll sooner.<\/p>\n

4. Maintain compliance<\/span><\/h3>\n

We can\u2019t all be tax or finance professionals. Chances are, if you\u2019re running a business, you have an entirely different industry on your mind most of the time. So, it makes sense to hire someone who\u2019s in the business of payroll to look after this for you.<\/p>\n

Maintaining compliance is a challenge that has to be met with each filing. And the rules around compliance are constantly changing! The average person can\u2019t be expected to stay on top of all of this information, so why not get someone who knows the ropes to take care of it for you? It could save you a lot of money and headaches.<\/p>\n

5. Eliminate headaches<\/span><\/h3>\n

There is nothing more valuable than the feeling of being stress-free. When you hire a payroll professional, you can relax knowing that your business is in good hands, that your team is getting paid correctly and on time, and that you\u2019re doing everything right.<\/p>\n

Final Thoughts<\/span><\/h3>\n

There are a lot of reasons why outsourcing payroll just makes sense. By letting go of this time-consuming, finicky task, you will likely find that you\u2019re enjoying your business more. Not only that, but you\u2019ll be able to put your energies into other things, meaning your business is likely to grow. If you’d like to talk to us about outsourcing payroll, click the below link to book a meeting with Sarah.<\/p>\n

 <\/p>\n

Book a call with Sarah to chat further<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

When you start a business, you\u2019re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more team members. Before you know it, what was once a very straightforward task becomes a giant undertaking that\u2019s sucking […]<\/p>\n

Read More… from Outsourcing payroll – 5 ways it can help you<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":10170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[53,184,247],"tags":[345,57,139,62,166,154,83,156],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\nOutsourcing payroll - 5 ways it can help you - Miss Efficiency<\/title>\n<meta name=\"description\" content=\"If you hire employees, outsourcing payroll makes makes sense. It pays for itself in terms of saving time, money, and headaches. 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