Payroll Outsourcing advantages and impact on productivity

A penny saved is a penny earned” and businesses more often tend to forego this saying by assigning their non-core and less productive functions to the in-house staffs which at the end takes a toll on overall productive engagement of staff. One of such function is payroll management. Organisations invest a lot of man-hours, infrastructure and money on proper processing and disbursement of salary but at the same time are also open to unforeseen hazards like unproductive engagement of staffs, improper filings, incorrect wage and leave calculations and also in-house attritions. Payroll outsourcing is a one-step solution for all issues related to payroll management. The benefits of payroll management are: a. Increased focus on core business and productive engagement of in-house staffs : Saves productive man-hours by engaging in-house staffs on more visibly measurable tasks which increases business revenue b. Reduced overhead costs: Total overhead costs including infrastructure expenses, manpower, software and servers, travel and logistics, postages etc. all add up to an increased cost of payroll processing which can be easily managed through payroll outsourcing c. Guaranteed compliance of govt. policies: Outsource function firms take up all responsibility for on-time and accurate filings which saves the company from unnecessary