Symarco: Payroll Partners

Payroll service

Five Reasons Why Companies Outsource Their Payroll 

Payroll services Staff Leasing Companies now referred to as PEO’s or Professional Employer Organizations bring sophisticated web payroll systems into place streamlining your entire payroll process. Depending on the size of your organization and or your specific accounting needs, you might find a better solution with a quality PEO. They might help offset any additional set up fees for more sophisticated time clock or software packages.

So, look into a PEO before going it alone. 

All payroll service is handled by the PEO. You pay as you go and the PEO takes care of quarterly reporting. Once you have partnered with a PEO, you operate off their low SUTA rate, which is factored into the fee they charge for outsourcing services. Direct Deposit or ATM pay cards are suggested as an alternative to paper payroll checks.

Budget Solutions With the pay as you go method of payroll 

You are paying your employees, employment taxes and workers’ compensation insurance each time you cut pay. No quarterly payments will come due as the payroll service provider is responsible for employment taxes. No longer will your run the risk of penalties should the payments be made late. Also, no upfront premiums for workers’ compensation and no end of the year audit asking for more money. If profits are running low due to a slower work season, you will notbe hit with quarterly payments or large workers’ comp premium payments… no financial juggling.

Which of these three categories regarding workers’ compensation do you fall in? 

  • Uninsured or what’s called self-insured – If your business falls into this category you don’t have the protection of exclusive remedy.
  • Insured – With just a few exceptions, the workers’ right of recovery against the employer is limited to the benefits provided by the Workers’ Compensation Act. This is called exclusive remedy.
  • Certified Self-Insured – This can provide the very best coverage. If a company can provide proof of financial security, a long-term commitment and financial guarantee this type of coverage can offer the best solution.

A company that’s certified self-insured with local claims management could offer a better solution. Unique is the only payroll services Australia that offers this category of workers’ compensation insurance protection.

Keep going; it gets better! 

Asset Protection Risk mitigation is the best when you have appropriate workplace policies in place. If you are going it alone, you need to ensure state and federal compliance. Employment laws change frequently; call for information on what laws apply to a company your size and how to meet required compliance mandates.

A payroll service Australia supplies you with employee manuals (tailored for your specific company), job descriptions, multiple assets protecting HR solutions, workers’ compensation insurance with claims management, and unemployment claims management.

Are you running a big risk?  

A strategically designed plan that is structured actually will prevent losses and reduce the cost of losses that do happen while creating a safer environment for your employees. A quality PEO program will assist in driving change in areas that will enhance business performance and assure continuity of business operations.

To conclude: 

Payroll services Australia provides you with the freedom to execute your day-to-day business plan without all the payroll worries. You can rest assured knowing all the bases are covered, that you are legally compliant, and that you are not afflicted from a myopic view of your business due to wrong or insufficient data supplied to you by employees not professionally trained for handling payroll services. 

 

 

 

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