Here's a few misconceptions business owners have about payroll services. “I should save money and do payroll in house.” Nope – Here’s why: “Boot-strapping” is a very popular way to run new businesses in Tampa, FL, but boot-strapping your payroll run is probably more expensive than outsourcing it. Having full time staff involves offices space, office equipment, a salary, employee benefits costs, and the cost to replace and train an employee for when the payroll person moves on to another company. “Doing payroll in-house makes it a more reliable process than if I depended on a Tampa payroll company.” Nope – Here’s why: Internal payroll employees can get sick, have vacation time to use and occasional leave the company with two weeks notice. In addition, outsources will have multiple people doing the same job and will have better software and computer hardware in place. This adds measures of redundancy that is used to eliminate things th ...

More modern business consultants will recommend focusing your business on distinguishing itself in some aspect. So, your company might be the fastest, or the most specialized, or the one that provides the best service. You’ll never hear an advisor recommend being the best at cutting checks to your own employees. Payroll is one of the expense areas to which every business needs a solution. Most of the time, it adds more risk and uses up more money to fund an internal process that uses staff, computers and software. Each comes with its own expenses and risks. Staff – Salary, Benefit Costs, Training and Time to keep up-to-speed with changing regulations on the local, state and federal level. Employee can put in two-weeks’ notice and leave the company. Computers – Usually outdated within a years of purchasing. Maintenance costs. Software – Outdated every year and requiring updates. Utilizing an outsource lets you save time and money. It also allows you to leverage and expert team ...

On Thursday April 18th, the labor Department said that weekly unemployment applications dipped last to 386,000, a dip of 2,000 compared to the previous week. The four-week average rose to 374,750, which is up 5,500 and at the highest level in three months. Experts indicate temporary layoffs due to spring holidays may be creating higher figures of unemployment applications. Specific industries affected by these kinds of layoffs, include some school employees laid off during spring break. Job growth also seems to be growing at a slower rate, but still growing., with the hiring of 120,000 jobs in March. This is growth, but half the number reported for the previous three months. This may just be a kind of statistical correction in the hiring rate to make up for accelerated hiring that may have occurred during the January through March timeframe. That hiring rate averaged 212,000 jobs per month and may have been due to warmer weather for industries benefiting from warmer weather. Further digging reveals the ...

As a business owner, you take time to investigate the options available to you for making your company more successful. Business Process outsourcing (BPO), allows businesses to focus on growing revenue, while relieving staff of non-core tasks like payroll and managing benefit packages. Some of the advantages for using an outsource for business processes are: Time to complete tasks goes down When utilizing an outsource that performs the process full-time, the outsource frequently has better trained and more experienced staff. In addition, the outsource frequently has invested more deeply in better hardware and software to handle the process more quickly. Quality of outsourced tasks goes up By utilizing staff that performs a specialized process on a full-time basis, the quality of work for that task goes up. For example, part of a successful payroll program is to classify workers correctly to be able to calculate the best workers’ compensation rates and withholdings. Having an experienced person that ...

Outsourcing’s growing popularity is being driven by many business trends including the ability to have a more flexible staff without many of the costs associated with a traditional new-hire, like office space, new employee orientation and benefit packages. Some of the more popular reasons to look at outsourcing are: Access to skilled expertise Many times, finding and recruiting specially skilled employees can be a big challenge. Characterizing the current state of trying to hire employees is that there is a glut of people looking for low-skilled positions, while there is a shortage of qualified skilled-position applicants. Avoiding costs associated with supporting skilled employees The costs associated with maintaining specially skilled in-house employees can be a burden when they need on-going training and tools to remain competitive in their field. Many kinds of outsources also need to spend extensive time and training keeping up-to-date with compliance legislation that may affect their field, ...