Payroll outsourcing is the practice of hiring an external company (us!) to manage all aspects of the payroll process, including, but not limited to, calculating and distributing your employees salaries and wages, issuing payslips, managing tax obligations and other payroll-related deductions, and handling any payroll-related queries or issues.
There are several reasons why a company might choose to outsource its payroll functions. Some common ones include:
By outsourcing your payroll, you can also free up time and resources to focus on other aspects of your business.
When you engage in a payroll outsourcing service, we, the outsourcing provider, take responsibility for processing and administering your company’s payroll.
This involves calculating employee salaries and wages, withholding tax and other payroll-related deductions and ensuring compliance with employment laws and regulations.
You retain control over your company’s payroll policies and procedures. Still, we handle the administrative and compliance-related tasks, so you can have peace of mind and focus on other core business activities!
By outsourcing your payroll, you can avoid the risk of non-compliance with local payroll regulations, errors in calculations, and reduced efficiency in payroll processing. Payroll outsourcing can avoid costly penalties and legal issues for client companies.
Some other key benefits of payroll outsourcing include improved accuracy and timeliness of payroll processing, data protection, access to local payroll subject matter experts, and ensuring compliance with employment laws and regulations.
Payroll outsourcing can benefit businesses of all sizes and industries, from small startups to large multinational corporations, but it is particularly useful for businesses that have a growth strategy or those looking to expand internationally.
It can also be helpful for businesses that are struggling to keep up with payroll regulations and compliance or hold a key man risk with payroll knowledge being retained by one person within the business.
When choosing a payroll outsourcing provider, it’s essential to consider factors such as cost, experience and expertise, reputation, where the service is being provided and the specific services and support offered by the provider. You may also want to seek out recommendations and read reviews and case studies from other companies that have used the service.
The cost of payroll outsourcing can vary depending on factors such as the size of your business, the complexity of your payroll needs, and the specific services you require. Some providers charge a flat fee per employee per month, while others charge a percentage of the employee’s salary.
By choosing Polyglot Group as your payroll outsourcing provider, be reassured that you can budget safely with our all-inclusive pricing.
To get started with payroll outsourcing, you’ll typically need to sign a service agreement and provide some basic information about your company and its payroll needs. Then, we will set up the necessary systems and processes and provide you with ongoing support and one dedicated point of contact.
You will have access to expert, proactive and human guidance on all local payroll complexities.
We take employee data privacy and security seriously and ensure compliance with all relevant privacy laws. Data encryption, access controls, and employee confidentiality agreements are some of the measures taken to protect employee data.
With us, you can rest easy knowing your data is kept on a secure local server as per GDPR terms. In fact, we are one of the only businesses in the world to be GDPR compliant globally. As a global human-centric business, we value data protection and privacy and have taken every step to ensure compliance on a global scale.
Our payroll outsourcing services typically include:
Payroll outsourcing providers must comply with local laws and regulations, including those related to data protection, tax compliance, and employment regulations.
As your payroll outsourcing service provider, we have a team of experts who are knowledgeable about local payroll regulations and stay up-to-date with any changes in the laws. We ensure that payroll calculations are accurate and comply with the latest regulations.
The timeline for setting up payroll outsourcing services can vary depending on the complexity of the business. However, typically it takes a few weeks to set up the service, including data transfer and a payroll schedule.
Of course! Our payroll outsourcing services can be customised to meet the specific needs of the business. Companies can choose which payroll functions they want to outsource and how often they want to run payroll.
You will still have control over your payroll even if you outsource it. You will need to provide us with necessary information such as employee hours and pay rates, but you will retain control over the overall process. All lodgments and payments require your review and authorisation before being released.
When onboarding new employees into the payroll system, you will need to provide us with their relevant details, such as personal information, tax forms, and banking information. Our team will assist you in setting up their profiles in the payroll system and ensuring their accurate inclusion in the payroll process.
You can expect to receive regular payroll reports based on the agreed-upon payroll calendar. These reports typically include detailed information about employee wages, deductions, tax withholdings, and any other relevant payroll data. The frequency and specific details of the reports can be tailored to meet your business requirements.
We pride ourselves on delivering excellent customer support and assistance. Our dedicated team is available to address any queries or concerns you may have regarding payroll. We offer timely and responsive support to ensure a smooth payroll experience for your business.
Yes, payroll outsourcing can accommodate specific payroll requirements, including overtime calculations and shift differentials. Our system is designed to handle various payroll complexities, allowing us to accurately calculate and process these additional pay components as per your specific needs.
In the event of payroll errors or discrepancies, our team promptly investigates the issue and takes necessary corrective actions. We have robust quality control processes in place to minimise errors, including regular checks and reviews of payroll data to ensure accuracy.
Our goal is to deliver reliable and error-free payroll processing.