What Are The Types Of Payroll Agencies

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What Are The Types Of Payroll Agencies

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For many businesses, if not all businesses, staff are the most important thing. Without staff, there is no business and without the business, there, of course, is no money. For this reason, it is always important to make sure that your staff are paid on time and the correct amount.

It is always a big mistake to neglect the payment of staff as inevitably this will cause a lot of problems for you and your company. For this reason, it is integral that you hire the correct payroll agency for your company, ensuring that they are reliable and cost-effective.

There are quite a few different kinds of payroll contractors that are available for hire and it is important that you choose the right one for your business.

What are the different kinds of payroll agency?

Outsourced payroll services are delivered by a plethora of payroll companies. To make it easier to understand it is possible to divide them into sizes:

  • Accountants and small bureaux
  • Mid-tier payroll bureau’s
  • Large payroll bureaux

The larger payroll agencies will, of course, tend to have a lot of clients, often in the thousands. Because of their size and the relative income, they can often afford to run dedicated payroll software that allows for online interaction, and they are able to deal with international payroll.

If your company has employees abroad that are on the payroll and need to be paid on a weekly or monthly basis and they can occasionally outsource the payroll processing work internationally.

Payroll contractors of this size tend to be able to deal with a wide breadth of payroll sizes from very small business to large multi-national corporations.

Mid-tier payroll bureaux

The middle of the road payroll agencies will also be able to deal with a whole range of payroll sizes, much like the larger bureaux’s. The main difference is that they will tend not to use the advanced and very expensive online technology that the larger ones use, however, this will not take away from their high levels of customers service and experience as a payroll agency.

The fact that they do not use this sort of software will often mean that they can keep costs down which in turn will benefit your company if looking to hire them to take care of your payroll needs.

Accountants and small bureaux

This kind of practice will inevitably deal with quite low numbers of staff. For this reason, they are likely to have a lower level of experience and expertise. However, this will mean that they come at a lower price which of course is much more desirable if you are running a small business with a low income.

Choosing the right type of payroll agency for your business should, of course, be based on its size and number of employees with cost as a secondary consideration.