When streamlining payroll services, companies have a number of options to consider to help them attain payroll best practices.
During this process, businesses will need to examine their current system to identify how to best eliminate any unnecessary processes, reduce complexity and employ any available delivery tools, including self-service and payroll outsourcing firms, Joanne Sammer wrote for Business Finance magazine.
However, companies should be careful not to overlook one crucial aspect – will the new service model focus only on payroll of the whole "hire-to-retire" cycle?
"If it is going to focus on the entire hire-to-retire process, those changes will have a wide-ranging impact on human resources, benefits, payroll, accounting and so on," Felicia Cheek, director of the global payroll advisory program with The Hackett Group, told the source.
If companies decide to go forward and hire a payroll service, Inc. magazine suggests business owners begin by asking colleagues and trusted friends for referrals, as they are likely to paint a full picture of the firms' benefits and advantages.
