The key rule for keeping your employees satisfied is to release their payments on time and systematically. The team should be careful not to commit any error in the payroll process, to prevent discontent and chaos. Many a time, small companies and startups thus outsource their payroll process to experienced professionals just to make sure that everything runs smoothly. But not all services are reliable and efficient, hence, one has to take time to choose.
The following checklist may help in that case.
Data privacy and safety
When you are revealing sensitive information about your employees and the company at large, you should be 100% sure that the outsourced company has a highly secured system. Any kind of breach or data theft may lead to severe consequences. Gather as much information as possible regarding the payroll management software that they use.
The primary reason you are outsourcing payroll is accuracy. You do not want to make any mistake in calculating salaries, right? Go through the online reviews of the service provider you choose and see how they fare in terms of accuracy. While checking these reviews, do not stay limited to the customer testimonials and Google reviews. Go beyond and look for reviews in other third-party portals, like Reddit, Trustpilot, etc.
Availability & Accountability
Let’s suppose there is a mistake in payroll calculation. What should you do? Well, of course, you should rectify it as soon as possible. But if the company representatives do not account for their mistakes, or are not available at the shortest notice, you will be in a fix. So before deciding anything, talk to the team regarding these apparently minor, but significant problems that may arise.
Outsourcing payroll services should be within your budget. But do not go for lucrative offers that seem too good to be true. You have to pay some price to get the best payroll system. As nothing of high quality comes for cheap, the solution is to create an estimate of your budget and choose the services after careful evaluation.
Most of the Accounting Services in Singapore come with payroll management as an add-on service. You should check reviews and discuss your requirements with the team before finalizing a contract.