Think you know payroll outsourcing? Busting 5 common myths!

If payroll had a motto, it’d be: no feedback is good feedback.

Employees simply want to be paid accurately and on time.

However, achieving this requires extensive specialist knowledge of payroll processes, data security, legislation and compliance.

This is why many businesses turn to payroll outsourcing suppliers.

However, while outsourcing can offer a convenient solution, we’ve noticed that a large number of businesses remain wary of the offering.

Do you have concerns? If so, read on!

Myth 1: “We’ll lose control of our payroll”

Understandably, many fear that outsourcing their payroll will result in a lack of control.

However, the reality is quite the opposite.

With a good payroll outsourcing provider, you retain full control over approvals and changes.

At Paycheck Plus, payroll data is submitted to us, calculated and then sent back to the client for approval.

The payroll is never processed without a client’s final approval, and any changes are applied exactly as requested.

Ultimately, with payroll outsourcing, you retain full control of your payroll, but it’s simply managed elsewhere.

Myth 2: “Our data won’t be secure”

Many businesses worry that their payroll data stored outside the organisation will be vulnerable to loss if systems break down.

However, outsourcing providers typically have more advanced security measures than most in-house teams.

Frankly, the majority of smaller businesses will have little or no backup or disaster recovery if their payroll system breaks down.

We use our next-generation cloud payroll software, ensuring watertight processes and data transfer, as well as encrypting all data for further protection.

For added peace of mind, we also ensure that Paycheck Plus respects privacy and treats personal data lawfully and correctly.

Supporting accreditations held by Paycheck Plus are:

•  ISO9001
• ISO27001
• ISAE 3402
• IPASS
• Great Place to Work

Myth 3: “Outsourcing costs more”

At first glance, keeping payroll in-house might seem cheaper, but this ignores hidden costs.

Often, it’s actually more cost-effective to outsource payroll.

Many people don’t realise the true cost of running their payroll, as they tend to look only at the salary costs of the people running the payroll.

Beyond the salaries of payroll staff, there are expenses like training, software updates, IT support and covering gaps due to absences or departures.

With payroll outsourcing, your only responsibility for the payroll operations should be to nominate a payroll contact who acts as the point of communication between you and your provider.

It’s also worth noting that in small businesses, one person may have sole responsibility for processing the payroll, which can prove a major challenge at times of holiday or sickness – we call this a single point of failure.

If your payroll manager suddenly goes off sick for an extended period of time, what will your business do?

Myth 4: “Outsourcing won’t be as flexible”

Many businesses assume that if they need to make a one-off payment to a member of staff, it’s easier to do this in-house, but this isn’t generally the case.

In fact, a flexible outsourcing provider can still get things done at the last-minute, if there is an emergency.

Leading payroll providers, such as Paycheck Plus, are equipped to manage all situations efficiently.

Myth 5: “Outsourcing is too impersonal”

Some fear that outsourcing will result in an impersonal, one-size-fits-all service.

Yes, there are suppliers where the payroll is processed by someone different each month.

But not every supplier is the same, and you can find a personalised supplier, like Paycheck Plus.

We operate by a simple philosophy: keep it personal.

Each of our clients has a named contact with their email who will handle their monthly payroll for them and will be there to handle any queries.

They are part of a small team, all of whom will have a knowledge of the client’s payroll to ensure that there is adequate knowledge and cover in the event of sickness and holiday.

Myths busted!

For those considering payroll outsourcing, hopefully the above has cleared up some common misconceptions.

Payroll outsourcing offers businesses a fantastic opportunity to streamline their operations, enhance accuracy, protect sensitive data and reduce costs.

So, if you’ve been holding off because of these misconceptions, it might be time to take another look!

Here at Paycheck Plus, we’re Ireland’s most highly awarded payroll company with more than 30 awards for our client care, management and payroll services.

For more information, speak to our team here.

Paycheck Plus, Your Outsourced Payroll Provider

Paycheck Plus is an award-winning payroll company that specialises in UK and Irish payroll outsourcing. With industry-leading accuracy levels our affordable payroll service provides outsourced payroll services to organisations of all sizes.

Our ISO accredited payroll firm offers a range of payroll services which ensure payroll accuracy, while our bespoke payroll software lets you consolidate your payroll processes into one simple and efficient workflow.

For more information simply request a payroll quote or call +353 (0) 1 905 9400.