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Peter Piper’s Principle for Payroll Processing
The Peter Piper Principle involves the perils of alliteration. Studies have shown that a repetitive consonant sound (aka consonance) can directly result in cognitive error.
Case in point, novelists in the know tend to steer clear from character names that start with the same letter (Hannah and Haylee, for example) as it is easier for readers to get them confused. Drug manufacturers also recognize the potential confusion caused by medication names that share the same first letters.
Could this be why “Payroll Processing” continues to baffle, bemoan, and bewilder HR organizations, globally? Well, it could be a cause. Or it could be the plethora of other reasons as noted in this article below. Whether it is, or is not the cause, one thing is for certain. Peter Piper is an expert picker. If Peter was in Human Resources, and he picked a payroll partner, it would definitely be AspireHR.
To explain why, let’s first tee-up payroll process outsourcing (or payroll outsourcing, for short). What is it? Why do businesses outsource payroll and what are the benefits?
What is payroll outsourcing?
Payroll outsourcing is a 3rd party service available to HR organizations that need help managing the day-to-day administration of payroll. Payroll outsourcing reduces a huge administrative burden from HR teams. It ensures employees receive their paychecks on time and reduces the risk of costly compliance errors.
Outsourced payroll functions can include:
- Calculating payroll, deductions, and taxes
- Calculating benefits like vacation time, bonuses, and severance
- Ensuring compliance standards
- Setting up employee payroll accounts
- Dispatching payroll
- Responding to employee payroll questions
- Payroll Reporting
Why outsource payroll?
Many businesses prefer to outsource payroll because of the huge administrative burden it places on individuals and teams. Outsourcing payroll saves businesses time, money, and can prevent costly payroll and compliance errors. It ensures paychecks are delivered to employees on time, speeds up payroll responsiveness, and enforces accountability.
To add, businesses are challenged with a shrinking workforce of payroll experts. Even the largest of businesses are susceptible to the struggle of replacing retiring payroll specialists and/or finding skilled payroll resources. With such a specialized and important role, inexperienced payroll resources can certainly prove to be costly and expose the business to liability. Payroll outsourcing helps businesses avoid the trials involved with replacing and upskilling key payroll resources.
When should you outsource payroll?
The challenges and complexities of payroll processing impacts businesses of all sizes. Businesses often look at outsourcing payroll when they experience:
- a small or shrinking staff of payroll specialists
- time-consuming administrative burdens
- frequent payroll and compliance errors
- IRS tax penalties due to manual process errors
- higher turnover from slow or late paycheck delivery
- slow responsiveness to payroll inquiries
- high payroll processing costs
Outsourcing payroll empowers businesses with reliable payroll management, accountable support services, scalable expert resources, while minimizing the risk of errors and penalties.
Who’s the best partner for payroll outsourcing?
AspireHR is an award-winning workplace that has transformed some of the biggest brands and best-run companies with simplified HR systems, processes, and services. As a turnkey Human Capital Management (HCM) systems integrator, technology innovator, and US-based managed services firm, AspireHR has empowered millions of people globally.
With decades of HCM implementation and payroll experience, a scalable team of payroll experts, partnerships with technology and compliance giants like SAP and ADP, and over 85 HCM support clients AspireHR has the industry experience to efficiently manage end-to-end payroll processes.
See how easy payroll can be with AspireHR Managed Services. If your business goals involve leveraging the best payroll platforms, streamlining payroll operations, delivering better payroll experiences, and mitigating risk, AspireHR is the all-in-one partner that you can count on. Peter Piper, if asked, would definitely agree.
So, where’s the payroll process partner that Peter Piper picked?
You’ll see AspireHR’s footprint at some of the biggest brands, government agencies, and educational systems, globally. If you’re looking for a payroll process partner in North America, look no further! Our US-based payroll experts and certified SAP consultants are sure to deliver exceptional customer experiences to your organization.
Want to learn more about AspireHR’s payroll services? Be sure to reach out to us today!