The relationship you have with your payroll services company can easily be one of the most important ones you have in terms of your business. Not only is this who you are trusting to handle the responsibility of paying your employees, they are also in charge of managing your business’s tax information and your benefits program. With so much tied into one outside source, how can you tell whether or not you chose the right one?
Before you start to panic, read through our list of what to look for in a reliable payroll services company. With this list, you will have no trouble finding a trustworthy source to manage your company’s needs.
1. Do They Have Experience?
The first step to finding the right payroll services company for your business is to make sure the one you choose to work with has the experience you need. This will speak to the company’s reliability.
First, you want to make sure the company has some years of experience under their belts. Although it is good to support new and growing businesses, this may not be who you want to trust your company’s finances with. Instead, look for a company who has been around for awhile and knows the ropes of the industry.
In addition to having experience in the industry, you also want to make sure your payroll services company has experience handling your type of business before. For example, if you own a restaurant, you want to make sure the company knows how to properly account for your servers’ tips and file taxes accordingly. You don’t want your company to be the guinea pig for their learning curve.
You can easily find out if the company you are considering meets this expectation by asking for an example of their client list or asking them what other businesses they work with. You can also ask for references from current clients.
At INVO PEO, we have over 200 years of combined experience in payroll services and human resources in a variety of industries. We have worked everywhere from small startups to large corporations.
2. How Easily Can You Access Your Company’s Information?
Even though you are trusting another company with your payroll, you still want to make sure you can easily access this information if you need it. This can include quickly finding paycheck stubs, pay history, tracking paid time off, and more.
At INVO PEO, we offer our clients access to our secure online web portal. There, you can find everything you need about your company’s payroll with just a simple click of your mouse. You can even use this portal to run reports and track your pay history as needed.
Our web portal is also unique because it is where you and your employees will find information about the many payroll benefits included with our payroll service, including discount attraction tickets, free legal aid, discount prescriptions, and affordable gift shopping.
3. Can You Custom Tailor Your Plan?
Not all payroll service plans are created equally. This is why it is important to make sure you are working with a payroll services company who can create a custom tailored plan to fit your needs. Not only will this make sure you are getting all of the support you need, it also ensures you aren’t overpaying for your service plan.
This comes into play mostly when you choose to work with larger payroll services companies as they are the most likely to oversell you bundled deals to better suit them without considering you, the client.
At INVO PEO, we proudly offer a variety of payroll services we can easily adjust to fit to accommodate you. Whether you are simply looking for help with your payroll or you are wanting to combine this service with new employee/employer benefits or risk management, we have just the plan you need. You will never pay for a service you don’t want or need.
In order to determine what exactly your company’s needs are, we suggest you make a list of all the areas you are looking for help in from the payroll company, including basic tax information, check printing, salary calculations, etc. Once you have narrowed down your list, you will be better able to find what you are looking for.
4. Are Their Services Secure?
In today’s technology-driven culture, we cannot stress the importance of securing your company’s data enough. Not only does this help keep your business’s information private, it also saves you from any unwanted visitors poking around your private files.
Many small businesses don’t have the capability of providing this safe environment. This is why we recommend you choose a payroll services company who also puts data security as a top priority.
Although you may be able to provide some of this in-house, we still recommend you choose a company with experience in protecting this sensitive information. You should look to a larger payroll services company with more experience to protect this information for you.
5. Do They Handle Your Tax Information?
When it comes to payroll, there is much more than just making sure your employees get paid on time. You also have to worry about taxes.
However, if you chose to work with the right payroll services company, you won’t have to worry about this because they will handle all of these additional responsibilities for you. This way, you don’t have to deal with this additional headache, nor do you have to worry about facing costly fines and penalties.
Plus, you will be happy to know someone who is trained in tax law is the one managing these affairs for you. This will bring a level of comfort and security to you and your business you won’t get if you trusted yourself with the task after a couple of internet searches.
Now that you know everything to look for in a reliable payroll services company, it is time to give your company the extra boost it needs by adding this service to your business model today. To get started, contact INVO PEO’s payroll experts today!