Greenshades is committed to providing you with the tools and resources to run your payroll in-house. Outsourcing payroll can be expensive, inefficient, and potentially risky, why not run your payroll in-house with Greenshades.
In the American Payroll Association’s 2021 Survey of Salaries and the Payroll Profession employers were asked, “Does your organization plan to bring all or part of your payroll processing in-house in the future?”. Of the respondents who reported having all or part of their payroll services handled by an outsourced service provider, 6% indicated they plan to bring all or part of their payroll processing in-house. This is an increase of 1.8% since 2019, as more businesses recognize the financial, operational, and compliance benefits of directly managing payroll.
Today’s cloud-based payroll platforms offer a comprehensive suite of services, tailored to meet the specific needs of each organization, that deliver a compelling combination of simplicity, transparency, and compliance. They also feature a high degree of automation, empowering smaller payroll teams to address the needs of more employees.
A second follow-up question of why their organization plans to bring payroll processing in-house:
- 71.4% selected system integration
- 60.7% selected customer service
- 53.6% selected flexibility
- 46.4% selected cost, and
- 46.6% selected management decision.
What do these results say about the ever-changing landscape of the payroll industry and how does Greenshades continue to evolve with it?
It's clear that employers want greater control over their payroll dollars and processes. Keeping payroll in-house, particularly using a platform that integrates with other financial systems within their existing infrastructure, enables them to do just that. Further, there's a general realization that outsourcing payroll doesn't mean outsourcing compliance risks. Leveraging a platform provider that is compliant to the core - at a federal, state, and local level - dramatically decreases the likelihood of errors, which increases employee satisfaction. Finally, with the country facing an uncertain economic landscape, a solution that both increases agility and gives the employer more direct control of their payroll dollars. (Check out our post on ERP Software Blog for more information on the importance of reducing float.)
Want more information about why you should manage your payroll in-house? Check out our blog, 4 Reasons to Manage Payroll In-House with Greenshades.
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