At TenKey LLC we understand that getting a small business up and running can be a stressful and challenging task. Every element of your business needs to work together seamlessly, and you may find yourself having to wear one too many hats. If this sounds like you, it may be time to consider outsourcing specific tasks like payroll. We suggest payroll support for many reasons, all of which will help make your life easier and help your business thrive.
Payroll Support Saves You Time and Money
Most people that start a small business learn pretty fast that there simply aren’t enough hours in the day to get everything done themselves. As a result, most small business owners also learn quickly that time management is vital. As you begin to scale up, tedious tasks can make it impossible to perform this tricky balancing act.
One of those tasks is payroll. Hiring an outside company for payroll support is one of the easiest ways to maximize your time’s value. Payroll, along with other administrative tasks, eats away at free time that can be better spent focusing on other areas of your business, like increasing earnings.
The best part? Outsourcing payroll support doesn’t just help you bring in more money; it also helps you save more money too! If we factor in the expense of a full-time employee with salary and benefits, hiring a third-party service that offers turnkey payroll solutions like us can actually prove to be more cost-effective.
Payroll Support Helps You Avoid Common Mistakes
Everyone makes mistakes, especially new business owners trying to do too much or complete tasks not suited to their skill set. For instance, restaurant owner and chef superstar Bobby Flay may be more likely to make an accounting mistake, just as Bill Gates may be more likely to cook up a lackluster bouillabaisse (no offense Mr. Gates). In other words, sometimes it’s easier just to leave it to the professionals, especially when it comes to payroll.
Keeping track of payroll requires you to navigate through a complicated maze of government rules, regulations, and tax laws. Mistakes are easy to make and difficult to fix, often times resulting in fines, fees, or even an audit by the IRS. Luckily, these issues are also easy to avoid when you utilize a payroll service that understands the ever-evolving compliance landscape.
A seamless payroll service can also help you upscale or downscale quickly and effectively, allowing your company to become and remain more nimble. Simply put, staying nimble can help you capitalize on positive changes or minimize negative ones. This is particularly valuable during these volatile and disruptive times caused by COVID-19.
Payroll Support Is Often Packaged With Other Services Too
Payroll support providers like us are not just payroll experts; we specialize in helping small businesses run more efficiently as a whole and achieve greater heights of success. In addition to payroll support, we offer a wide variety of administrative services, including HR solutions.
Our HR services can help improve and manage of numerous challenges, some of which include:
Offering a more robust benefits program to attract top-tier candidates
Mitigating your legal risks with worker’s rights compliance
Securing your sensitive employee data with the latest encryption technology
Streamlining the recruitment process with an applicant tracking system
Streamlining the hiring process with efficient training procedures
Ensuring all tax information is consistent and accurate
At the end of the day, an excellent HR department leads to happier employees. And studies have shown that happier employees tend to be more productive and loyal than those that are not. Using a third-party service for HR, payroll, and other tasks can help accomplish all this and more, all while placing less burden on you, the owner.
Learn More About Payroll Support Today!
If you want to take your small business to the next level, TenKey is here to help. Contact us at 971-220-6416 or Hello@tenkeyllc.com to learn more about our payroll support and other services today!
