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Why Small Businesses Should Consider Outsourcing Payroll

Outsourcing your payroll, if you're not doing it already, could well be a boon to you and your business. Here are four advantages to consider:

1) Tax regulation compliance

Jay DesMarteau, Head of Small Business Banking at TD Bank tells Small Business Trends, “Payroll services ensure that the business complies with complex regulations and that it stays up-to-date with the latest laws. This takes a lot of weight off of a small business owner’s shoulders for a relatively small expense.” — Shubhomita Bose, Small Business Trends — Shubhomita Bose, Small Business Trends

2) Employee recruitment and retention

DesMarteau says, “An outsourced payroll service can also make the business more attractive to potential employees. These services can provide added perks such as online check stubs, time tracking and apps where employees can view pay information.”

But it’s not just about recruiting new people. A systematic payroll management system can also play a role in retaining employees who are satisfied with the infrastructure. — Bose, Small Business Trends

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About Marilee Hayes

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