Needless to say, payroll is a crucial part of a business much like customer service, advertising, or marketing. It is not a twice-monthly task. It also involves how retaining employees, rewarding them and similarly compensating for their work.
Putting all your time for payroll management Thailand may not be a wise thing to do, especially when you need to concentrate on your business. Besides, with the fast-changing laws it may not be possible for you to know everything. Having an expert by your side can be of great help. Moreover, any sort of error or miscalculation may leave your employees dissatisfied or demotivated. And you will definitely won’t like to take that risk.
Apart from these, below are some more reasons as to why should you outsource your payroll management task;
- Time Saving
From benefit deductions to new hires or terminations, payroll processing can be quite challenging and time-consuming. Outsourcing will free up your precious time and will allow you concentrate on the key management works.
- Reduced Cost
Businesses with fewer employees have a good chance of saving money by outsourcing as then they need not have an in-house process. In short, the direct costs of processing payroll can be greatly reduced by working with a payroll provider.
- Avoid Mistakes
It may not be possible for you to be always updated regarding the constantly changing regulations. Hiring an expert will therefore help you avoid mistakes and unnecessary penalties.
- Gains
Employers gain the ability to:
- View Invoices and Payroll Reports
- Access and Update Employee Information
- Enter New Employees
- Enter Time Reporting Information
- Offer Benefit Open Enrolment
- Communicate with Employees
- Create Custom Reports
- Track PTO (Paid Time Off)
- Upload Benefits Plans and Custom Benefits Documents
- Upload Employee Handbooks and other HR PDF’s
- Track Licenses / Certifications for Employees
- Performance Reviews
- Training Records
- Total Compensation Reports
