Why SMEs Need HR & Payroll Outsourcing in 2018

They say time waits for no one. The same goes for SMEs and start-ups that have limited human and material resources. The best way to focus on the bigger picture of running a successful business is to let go of the smaller tedious tasks that can be easily delegated. HR & payroll outsourcing is truly the need of the hour in 2018, to empower companies to increase productivity and attend to more pertinent business needs. 

Hr Payroll Outsourcing

What are the Advantages of HR & Payroll Outsourcing?

1.Lets Your Staff Focus on Their Area of Expertise

When you are running an SME or a start-up, there are many tasks that have to be handled day to day, some of which are so crucial that they may make or break your business. You don't need your best staff to be tied up calculating employee leave allowances or rifling through attendance records. Moreover, since this is not their area of expertise, they may take a lot more time to complete these tasks than what is required.  With HR & Payroll outsourcing, you can hand over the reins of both your human resources management and payroll processing to an external agency. They will expertly handle these matters and free your human assets to engage in more integral business functions. 

2. Avoids the Risk of Liability

Compliance laws and regulations are ever-changing, and it can be difficult to stay up-to-date. These complex laws are difficult to understand and apply for an in-house team. Since employee litigation is something that should be prevented especially for a young business, it is wiser to outsource HR to experts. Instead of struggling to fight a lawsuit that may come up due to some inadvertent processing error, it is best to avoid these hassles altogether. 

3. Gets Better People on Your Team

The main duty of any HR team is to hire the finest assets that add value to your business. If a  position remains unfilled for a long duration, it can impact your business' productivity in a negative manner. Moreover, the process of recruiting tends to be long drawn out and may leave you empty-handed at the end of it. A good HR outsourcing company generally have a pool of talented performers to suit any profile. They will fill your requirements with ease. Moreover, some HR & Payroll outsourcing companies even take care of temp staffing and training. 

4. Helps to Retain Your Employees

Your company's HR team is the face of your business for your employees. It is their go-to point for any grievances that may arise. If your Human resources department is not competent enough to handle employee issues in a tactful, positive and efficient manner, it will spell disaster for your business. Employees will quit for an alternative that satisfies their requirements. This increased turnover translates to additional costs incurred in hiring and training new staff. Outsourcing to an expert external HR agency will thus help you to retain your existing employees and cultivate within them, loyalty in your business.

Conclusion

There are numerous advantages to hiring with HR & third-party payroll services. The benefits of Hr & payroll outsourcing is that you can add the best assets to your team while keeping existing team members happy. You can also eliminate the ever-possible risk of liability. In addition to HR, employing third-party payroll services will further enhance your business' competency by saving time, money and resources. It will keep your best employees free to do what they do best: building your company and raising it to new heights. 

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CA. Vipul Gandhi

Associate Director

Khandhar Mehta & Shah - Chartered Accountants

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on time! We

Parameshwer Matla

Human Resources

Columbus India

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on The most valuable service that we get from you is "peace of mind." I know that once I submit our payroll information, everything will happen on time, payroll, pay slips, statutory reports, full and final settlement, returns and I know that we are and will be always in compliance with statutory laws regarding payroll.

Ramakrishna Dabbara

Sr. Manager – Finance

Sumtotal Systems

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Abhijeet Shete

SENIOR MANAGER- HUMAN RESOURCE

Altra Industrial Motion India

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Sukesh Baban Dhage

Manager Accounts

Hi Tech BioSciences India Private Limited

On behalf of Hitech Bio Sciences India Pvt. Ltd., Hi Tech Bio Laboratories, Hi Tech Analytical Works & Hi Tech Biosynth Pvt. Ltd., we appreciate your dedication to provide Payroll services to our companies from the approximately last 4 years. We acknowledge the fact that due to COVID-19, situation has become really tough across the globe. We all are forced to stay at our homes and take extra care of ourselves along with family members. It is a privilege to acknowledge you and your consultancy’s efforts and recognize the valuable service that you have provided to us. 

It is always gratifying to work with such great people with extraordinary abilities to provide good and quality service. The kind of response from your side get is fabulous and most memorable with professional culture. Specifically we would like to mention that, your approach towards the client is fantastic, for e.g. response to email is very prompt, continuous touch with client, on time response to queries or questioners’, on time and accurate report sharing. Flexibility to client requirement, Client / customer centric approach etc. Timely payment of salary gives a lot of confidence to all employees and it is due to our partners like Paysquare that Hi tech has never defaulted on its commitment of timely payment of salaries.

Ratnakar Dhakad

Senior Operation Manager

Tecknack Technologies Private Limited

We are very impressed with Paysquare team due to their ability to process payroll very efficiently. We found the implementation team very knowledgeable, supportive and very systematic.

Paysquare is a very matured payroll processing solution and they have well paid down processes to manage first time as well as every month's processing.

Monica Shah

HR Business Partner India

Victaulic Piping Products India Private Limited

Honestly , It has been an amazing experience working with Payroll team as on date . Deepika and Uma has been a strong support to us. They have always been very helpful and co-operative. I congratulate them to run payroll with zero error every month. And I expect the same level of support in future. I am happy to be associated with Payroll team.

Seagate India

Manager

I have been a client of Paysquare for 7 years and their services are fantastic. Migration from the old consultant to Paysquare was seamless. Soon after the migration, Paysquare team was up the learning curve. They never missed the deadlines provided by us. The team is always reachable, and they keep us informed about changes in taxes or government policies which impact payroll. I have complete confidence and trust in their payroll solutions, and we will always recommend them. Any company looking to ease their payroll burden with friendly service and a flexible, secure system should partner with Paysquare.