Tuesday, February 15, 2022

How to pick a cost-effective payroll service for your business


How to pick a cost-effective payroll service for your business

A right outsourcing payroll service can enable businesses to improve payroll processes, save costs, mitigate errors, and streamline data entry.

Payroll management can be complicated or straightforward, depending on the number of employees and relevant payroll processes. Small and large businesses often turn to payroll service providers to both avoid errors and ensure well-planned and effective payroll administration. As a result, selecting the best payroll service is of utmost importance. The real question is how to find a payroll service that is within your budget, yet allows you to have certain control over the processes. We have the answer for you.

Things to consider when choosing a cost-effective payroll service

Services and Fees

An outsourcing payroll service must ensure necessary HR activities such as calculating wages and keeping track of employee work hours, withholding deductions and taxes, printing and delivering checks or direct deposit and paying employment taxes. The main features of a payroll service include management of attendance, overtime work, allowances and leave, as well as report generation. Therefore, businesses should be aware of the fee for each service provided in order to allocate their budget properly and avoid incurred costs from unnecessary services.

Considering only essential payroll service features for cost optimization. (Photo: Internet)

Simplicity and Ease of Use

The best payroll service should be simple and easy to access and use. Particularly, the data must be available as needed, including management reports and employee information, comprehensive employee details, and a full history of past and current payslips. 

An effective, simple and easy-to-use payroll service allows you to change employee data easily, manage employee payroll, and transfer funds electronically to all major banks and payment services. Plus, all balances and details are displayed in a user-friendly format, facilitating your online budgeting and staff costs planning.

Security and Responsibility

When applying a new payroll system, you should look for security features that guard against information tampering. In addition, that payroll service provider must be well-known for its reliability and quality. You can also decide the level of control over the processes when outsourcing to a third party. The best payroll service allows you adequate control and the option to view all information and previous reports. Consequently, clarifying responsibilities with them will help you to know what to expect and what you should provide.

Businesses need to choose a reputable and reliable payroll service provider to protect important confidential information. (Photo: Internet)


Payroll service needs are unique for every organization. However, it should generate customized reports that are flexible to your company’s specific requirements in each stage, or even scalable as your organization grows. Besides, businesses need to consider a service compatible with their current systems to facilitate quick and precise data automation.

Training employees on a new payroll service

Guiding your HR team and staff through new payroll processes is vital to successful implementation. The efficiency of payroll outsourcing can only be ensured given they adhere to the new payroll procedures. That means selecting a service provider with adequate online support and training manuals to assist your HR team and employees in accessing the necessary data.

Training employees to comply with the new pay regulations will help optimize the efficiency of the payroll process. (Photo: Internet)

Choosing a good, suitable payroll service provider helps businesses not only to spare the hassle of a manual payroll system but also to optimize costs and business performance via a simplified payroll process.

Top 9 recruitment channels that businesses can’t miss in 2021

 Top 9 recruitment channels that businesses can’t miss in 2021 

Finding the right candidates is a challenging task for businesses. Here are the nine best hiring channels for businesses in 2021.

The recruitment landscape is changing, and so are the employer branding strategies. Though approaches to recruitment can vary from business to business, some are mainly applied regardless of industry, position, or potential candidates. The combination of a variety of hiring platforms enables companies to target more candidates, reach new talent markets, and improve recruitment in either an active or passive way. The reason behind this is these widely used platforms have proved their efficiency in reaching out to potential candidates. Here are the top 9 hiring channels that businesses can’t miss in 2021.

Top 9 most effective recruitment channels in 2021

Staffing agency or Headhunter

A staffing agency is a good solution if you need to quickly fill a gap in your workforce or face tough competition that requires expert assistance. With extensive experience in locating possible candidates, staffing agencies may leverage talent networks to deliver the most appropriate sourcing for vacancies. As a result, if your company has to fill any essential positions or increase your human resources to keep up with market growth, partnering with staffing agencies is a suitable option.

Staffing agencies are an effective recruiting channel for today’s businesses. (Photo: Internet)

Recruitment platforms

Recruitment platforms are the most preferred digital hiring channel by businesses. Online job listings have become an integral part of today's employment market since their first appearance in the form of short posts on forums. 

Recruitment platforms provide a space for employers and candidates to meet each other at halfway. Though this discovery is often on the candidate’s side, there are quite a few platforms out there that help employers browse through currently available talents.

Social media

Social media is by far the brightest side of the digital world and the best way for businesses to connect directly and instantly with potential candidates.

Social media is the most effective hiring channel for businesses to connect with potential candidates. (Photo: Internet)

Candidates often make the most out of social media groups to find jobs or ask others what they know about a particular workplace. Also, utilizing channels like Facebook, Instagram, and LinkedIn in recruitment can provide very positive results. One open job post on Facebook can be shared by many people, maximizing its visibility towards potential candidates. 

Email Marketing

Currently, leveraging email marketing in hiring is also a popular recruitment strategy among many businesses. Email lists are made up of people who signed up to hear more from your company or people in the talent pool you're targeting. You should inform potential candidates about the open career opportunities at your organization.

Company website

When candidates come across a job post, the first thing they do is visit your website. A company website not only confirms the credibility of your business, but it's also a wonderful marketing tool for attracting potential candidates.

Employer brand

According to survey results, up to 75% of job seekers investigate a company's employer brand before pressing the "apply" button. Whether you're recruiting for your own company or clients, you should provide candidates with insights into potential employers by sharing company culture content such as recent team-building events, employee testimonials, or writing a blog post about the department looking for candidates. 

Good employer branding is an effective way to approach candidates. (Photo: Internet)

Employee referrals 

Potential candidates frequently trust current employees more than any other type of employer branding that you splurge on. That is why there are so many businesses using the employee referrals strategy, which helps them to attract more than 58% of candidates and retain more than 20% of top talents.

Job fairs

Job fairs are also one of the most successful ways for businesses to approach potential candidates nowadays. Participating in events not only helps businesses to attract future employees but also provides networking opportunities and increases the chance of recruiting staff in higher positions.

Job fairs bring the chance for businesses to approach potential candidates. (Photo: Internet)

Businesses should consider attending on-campus job fairs at universities and colleges, as well as posting job and internship opportunities on various schools’ job boards.

Candidate rediscovery

Candidate rediscovery is an approach suitable for previously discovered candidates. Artificial intelligence (AI) should be integrated into your existing recruiting systems to locate, scan, and score potential candidates who have previously expressed interest in your company.

Don't worry if they don't have the specific abilities you're looking for; those can be learned later. Instead, you should look for candidates possessing flexible soft skills or who fit in your company's culture.

Above are 2021’s top best hiring channels that businesses should not miss to improve future hiring strategies.