7 Compelling Benefits, Beyond Cost Reduction, That Make Payroll Outsourcing So Appealing  

8 April 2021:

Deloitte’s Global Outsourcing 2020 survey shows that cost saving remains the primary driving factor for those now considering outsourcing as an option. This is perhaps understandable, given the economic impact of the pandemic. When it comes to payroll – and the investment needed to cover technology, as well as the hiring and training of staff – the economies of scale achieved with a dedicated provider is estimated to deliver savings of around 20% on average.

But, while cost reduction is the one thing everyone will take into consideration, there are other supplementary reasons why organisations believe it’s best to outsource.
Here’s seven compelling benefits that help companies reach this conclusion.

1. Reduced risk

Employee pay is a highly emotive subject for any organisation. It’s not an area where companies want to see mistakes. It’s essential, therefore, that this function runs smoothly and that the team responsible is always fully up to speed with the latest legislation and tech solutions.

Organisations need to trust that whoever is responsible will get it right, every time. Whenever an experienced team leader moves on, however – taking with them vast amounts of knowledge and expertise – companies are left trying to find another individual who they can put their faith in. It’s often at this point that they will consider whether an outsourced payroll partner, that has the expertise, experience and resources to ensure accuracy, poses less of a risk.

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Source: HR Director

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