Top Benefits of Outsourcing Benefits and Payroll Tasks


You likely spend a good portion of your time on benefits and payroll tasks. And while handling benefits and payroll internally does have its advantages, there are many reasons to consider outsourcing the involved activities. Here’s a quick look at the advantages your company can gain.

More time to focus on core operationsbusinesssupplies

When you outsource benefits and payroll, you free up your time to focus on core operations that generate revenue. More importantly, you can better focus on customer service operations, which are essential to operational success.

Reduced overhead expenses

Once you start outsourcing your benefits and payroll, you’ll likely notice a reduction in the associated overhead expenses. And not only will this aspect of outsourcing save you money, but the enhanced accuracy can also lead to significant savings, too.

Reduced likelihood of penalties

It may seem extreme, but 40 percent of small businesses have to dish out nearly $1,000 to cover penalties due to incorrect filings of benefits and payroll. This is an extra $1,000 that you could be spending on core operations.

Additional benefits for employees

Let’s face it. Your employees enjoy receiving a steady paycheck. When you handle your own benefits and payroll, though, steady checks sometimes don’t exist. Depending on how much time you devote to payroll, you may find yourself handing out checks on a Monday one week and a Thursday the next. When outsourcing these tasks, however, steady benefits and payroll are achievable. Your employees will also enjoy being able to have their checks directly deposited into their checking accounts.

Ultimately, outsourcing your benefits and payroll will help you better manage cash flow, minimize the risk of penalties, and reduce your administrative burdens. To learn more about outsourcing this aspect of operating your business, please The Jordan Insurance Group today.