Cost Benefit Analysis of Payroll Outsourcing Services

 

The return expected from payroll outsourcing includes:

Cost Reduction

The most important factor, evaluated is cost reduction – a major driver for payroll outsourcing services. Experts predict that payroll outsourcing can lead to a cost saving of around 15-20 percent. This cost saving may vary depending upon company’s efficiency level.

HR and Payroll Process Automation

Employers believe that cost reduction is not the only factor; access to new technology in order to automate the payroll & HR functions also drives the key ROI.

Better-Managed Payroll & HR Functions

Employers also believe that payroll services in Dubai services help them to better manage their HR functions, this is due to the team of experts & vertical specialization of the payroll outsourcing services provider.

Reduced Administrative Burden

Some payroll outsourcing service providers facilitate web-based solutions also. These solutions reduce administrative burden by offering employees direct, self-service access to HR/ payroll data warehouse.

High Employee Satisfaction

The benefits associated with payroll outsourcing, translate into high employee satisfaction. This increased level of service is facilitated as a result of security/privacy, control, timing/timeliness, and ability of payroll outsourcing service provider to deal with compliance issues highly effectively & efficiently.

Compensate Lack of Skilled Labor

Many a times, the outsourcing decision is made due to lack of skilled labor. Payroll outsourcing consultants handle all the employer payroll issues as well as tax filings efficiently which in-turn saves money in the form of resources & applied penalties.

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