It is not a secret to anyone that outsourcing payroll has become more and more of a major trend in the recent years, making it one of the fast-growing segments in the HR industry. With the HR focus shifting more to talent acquisition, onboarding, as well as paying more attention to maintaining employee satisfaction, more companies prefer to outsource mechanical and time-consuming HR tasks, such as payroll.
In this article, we would like to take a closer look on the reasons why companies choose to outsource payroll and what are the benefits it brings.
1. Quick and accurate calculation
With an HRm software there is no need to leave notes on a paper or go through work chats to figure out who took a day off, who has already asked for an advanced payment: all information is stored in one place. Clockster’s Payroll automatically accounts for everything: attendance, additions and deductions, late arrival and early departure fees. This makes calculating payroll faster and more reliable, eliminating human errors.
2. Highly customizable
Clockster’s Payroll calculation is very versatile. It incudes flexible salary components: Taxes & Social security, Additions, Deductions, Rates and Holidays. Set it up once and enjoy the effortless payroll calculation. Attendance, leaves, requests, fees, overtime and holidays – everything is accounted for.
3. Reduces time and costs
Outsourcing payroll significantly cuts both the time and costs of calculating it. On avarage calculating payroll takes a dedicated HR department about 8 hours. With the use of HR systems (such as Clockster) it can be reduced by more than 5 times. Subscription to the service is free for businesses with less than 30 employees.
4. Better employee experience
It is important to keep payroll as transparent as possible. Employees should always know what exactly the payment is for: why they received a fee or the overtime payment (or even a penalty). Clockster provides detailed payslips that are available for employees to view in the app as soon as you approve it.