Outsource Your Payroll With Syndeo
Outsourcing your payroll services can be an essential business project. With tailored, scalable, and fully integrated solutions, Syndeo is your best partner.
Outsourcing Payroll Services With Syndeo
Running your own business means you wear multiple hats. If an issue comes up, you handle it. But great entrepreneurs also know when to take some of those hats off so they can focus on core business operations. Payroll and HR are essential building blocks of any organization, but they are not income-generating activities.
Outsourcing these services can save you the precious time needed to focus on leading the business forward. Not only that, it can help you prevent costly mistakes. At Syndeo, we are committed to creating tailored and fully integrated payroll solutions for small- and medium-sized businesses.
Should You Outsource Your Payroll Services?
If you recently started your business or are just starting to see growth, it may be tempting to do as much as possible yourself. However, filing and delivering payroll can be time- and energy-consuming. Add to that the challenge of keeping up with ever-changing legislation and increasing pressure to stay in compliance.
Today, only 12 percent of businesses entirely outsource their HR services, while 26 percent do so partially. While in-house HR departments always have been considered a core business function, this perception is shifting—and an increasing number of businesses see outsourced payroll services as a great alternative to streamline operations. Reducing your overhead also can be a way to get in front of your competition and stay agile in the marketplace.
When Should You Outsource Your Payroll?
Human Resource Outsourcing can be particularly beneficial for businesses that need to deal with changing payrolls. This could be the case if your employees work different hours each week or you tend to see a high turnover rate. The more complex your payroll structure is, the longer it will take you to compile paychecks and taxes—thus increasing the risk of costly compliance issues.
You should consider an outsourced HR solution if:
- You have a high employment count or rapidly increasing number of employees
- Your state’s payroll laws are particularly complex
- You need to save time on running payroll
- You want to minimize mistakes in calculating state and federal taxes
- You need professional guidance to manage Social Security and employee benefits
Smaller firms with a stable workforce often stick to processing their payroll in-house because they believe it is more cost effective. However, when calculating the time and potentially costly mistakes that might come from this choice, HR outsourcing represents a more convenient option.
Ultimately, the pros and cons of outsourcing payroll are completely unique to your situation. Speak to one of our HR Specialists to find out exactly how we can help you.
Payroll Outsourcing Services: What To Expect
One of the greatest benefits of our outsourced payroll solutions is they are entirely customizable for your business.
Depending on your specific needs, you can benefit from services such as:
- Depositing funds
- Issuing checks
- Running payroll
- Tax withholding
- Calculating payroll tax
- Compliance and filing government reports
- Managing employee benefits and Social Security
Depending on your business and staffing structure, you also can benefit from integrations with 401(k) regulations, W-2 forms and retirement plan management. You choose when employee paychecks are issued.
At Syndeo, we believe that your firm is unique, and your payroll outsourcing services should be, too. From basic payroll for small business owners to enhanced HR services for larger firms, we believe in creating a tailored solution that responds to your unique business needs.
The Benefits of Outsourced HR and Payroll Services
Outsourced Payroll Services Streamline Your Business Operations
Whether your business has two or 100 employees, payroll, compliance and taxes take time. Any mistake during this process can quickly turn into a financial and logistic headache!
For every minute spent double-checking numbers and calculation, you are wasting valuable time needed to focus on the next move for your business, increasing customer reach or building revenue.
Investing in an HRO solution can save you precious time and effort by:
- Automating payroll calculations
- Generating accurate reports
- Streamlining paycheck distribution, signing or printing
- Managing the always-changing employee benefits and Social Security regulations
HR Software Minimizes Payroll Errors
Whether you have an in-house HR department or you are handling the entire payroll processing by yourself, you know that each task has an allocated time.
Mistakes can be costly and become much more than a minor inconvenience. A reduced payroll or missing hours can lead to an employee’s frustration and decrease the trust they have in their employer. For you, a payroll mistake can lead to heavy fines and penalties, especially when the mistake involves miscalculated tax obligations.
Business owners are rarely tax experts, but they still are responsible for taxes, fees and governmental compliance. In 2016, of 1.8 million tax returns audited, the IRS assessed penalties to over 978,000 businesses. Additionally, at the end of 2020, the IRS shared its plan to increase audits by 50 percent during a time when businesses are struggling to deal with any pandemic-related losses. Outsourced HR professionals can help you keep up with compliance and avoid costly penalties.
New Payroll Software Can Enhance Data Security
Concerns about data breaches, identity theft, embezzlement or the loss of important information are at an all-time high.
When dealing with your employees’ personal information and sensitive data, it is essential to have all the measures in place to protect every transaction. This is especially important in a post-pandemic scenario dominated by remote working!
Over the past year, the pandemic caused a 600 percent increase in cyberattacks. Over 80 percent of companies have experienced a breach attempt. Of the ones that have suffered a severe data loss, 94 percent do not survive.
A state-of-the-art HR software and outsourced HR services can help you ensure that your data is handled securely and is better protected from breaches and cybersecurity attacks.
Offers Versatility and Scalability
A business is a dynamic entity with evolving goals to achieve. In the beginning, you might have been able to cope with payroll obligations yourself, but as your customer base and teams expand, a one-person in-house HR team might not be able to keep up with the changes.
HRO services allow you to deal with the growing volume of payrolls, compliance and data. All this, without having to expand your in-house HR staff or spend hours trying to keep up with these non-core functions.
Win Your Employees' Trust and Retain Your Best Talent
As a business owner, you are undoubtedly extremely busy. However, delivering paychecks on time should be the rule, not a lucky exception! Your employees count on regular income. If you have started to feel overwhelmed by compliance and payroll to-dos, an HRO provider can help.
With Syndeo, you can avoid employee/employer strain and build a relationship of trust thanks to timely, automated, concise and easily understandable paychecks and pay stubs.
You Can Benefit From Expertise and Guidance
Navigating the world of HR management, payroll, tax obligations and government regulations is challenging. If you are focusing on building your business, the last thing you want is having to spend days trying to understand how to run payroll and other HR services.
With Syndeo’s team of tax and payroll experts at your disposal, you have help to resolve simple matters as well as guidance for more complex situations.
Some of the areas in which you can count on our expertise include:
- Experience with W-9 forms
- Adjustments of tax deductions and form updates
- 401(k) regulations
- Federal and state regulations
- Management of employee withholding
- Administration of benefits and pension contributions
- Submitting taxes
- Management of Social Security, FICA, and Medicare
- Accurate reporting and evaluations
Allows You To Offer Employee Self-Service Options
There are many ways in which you can streamline your business operations through outsourced payroll services. One of these is introducing employee self-service features to your HR and payroll service. A 2019 HR survey shows a drastic shift toward technology in payroll management and a trend towards self-service options.
Some of the information your employees can access through Syndeo include:
- Tax documents
- Past payrolls
- Benefits updates
- Tax allowance forms
- Time-off forms
- Shift updates
- Personal information
Syndeo: Your Partner for All HR and Payroll Services
Selecting the right HRO partner can be challenging, especially the right one that offers payroll services tailored for your business. Some must-haves of the ideal HRO include:
- High standards of customer service
- An established identity
- State-of-the-art software
- Integration options
- Customized payroll services
- Fast response
An Easy and Tailored Payroll Solution You Can Trust
When partnering with Syndeo, you can expect full integration of our systems and software with your current processes, professional guidance and automated compliance options.
Whether you are a thriving local or small business looking for a scalable HR solution or you are a business owner who needs to manage dozens of employees, Syndeo’s tailored services are the right ones for you. Get in touch today.
Syndeo provides HR outsourcing services to various industries, offering responsive solutions that meet day-to-day tasks as well as bigger HR challenges. Here are some of our satisfied clients:
Optimize Your Human Resources Today
Schedule a free consultation to discuss how we can improve your HR. Call us at (316) 630-9107 or fill out our online form.