Congratulations, you’ve decided to outsource your payroll and you’re ready to reap all the benefits of payroll outsourcing but… Wait! You’re still stuck on deciding which payroll service provider is best for your company. With so many providers available to choose from, you will need to weed out the vendors that don’t meet your requirements and narrow it down to the best few.
9 Questions to Ask Payroll Service Providers Vendors
Here are some fundamental questions you must ask the payroll service provider before making the jump:
- How up-to-date are you with legislative changes?
- Is delivering payroll services your core business?
- What level of service support can we expect?
- Do you have industry-specific experience?
- What are the latest payroll technologies you have implemented?
- How scalable is your system is if we expand or downsize our business?
- What is your level of data security/accreditation?
- What is your pricing structure?
- Do you have any complementary HR services?
1. How up-to-date are you with legislative changes?
Being up to date with the latest legislative changes should be a standard nowadays. Service providers should have the resources to keep up to date with any changes and be able to communicate them with clients. A good way to find out is to see if they have any original content they publish on the latest legislation changes and if they hold events like labour law webinars.
This is crucial as companies caught out by non-compliance could face severe consequences such as fines, suspension, or even revocation of business licences.
2. Is delivering payroll services your core business?
Whether delivering payroll is a part of their core business or just a side offering matters. This is because payroll requires expertise. To know if they are experts in payroll, ask them about their years of experience, recently completed projects, and to provide any client testimonials.
3. What level of service support can we expect?
Just because the function is no longer internally managed doesn’t mean there should be a drop in service quality. Good vendors prioritise employee experience. The best way to ensure you receive top-level service is to select a provider with in-country support.
This will ensure your employees won’t have to deal with call centre operators who lack the knowledge of the country you are based. Having an expert on the ground to assist you in solving any problems makes a big difference in how efficiently you can overcome the challenges you encounter.
Links offers 100% in-country payroll outsourcing services in 18 locations across Asia. Learn how your payroll can streamline your business operations by contacting our team now!
4. Do you have industry-specific experience?
Finance payroll is very different from retail payroll, which is also very different from manufacturing payroll. This is why the payroll outsourcing provider should have experience in the industry your business is in. If the provider has industry-specific knowledge, the support you receive is much better support and industry-leading advice on how to handle any number of scenarios that could arise.
5. What are the latest payroll technologies you have implemented?
Technology moves fast, so you want a payroll service provider that is keeping up with the changes and upgrading its system to provide you with the best experience. One of the main benefits of using payroll outsourcing providers is the efficiency through the use of Employee Self-Service like e-payslips, e-leave, etc. However, these are industry standards and a bare minimum now.
Being mobile-focused has also been increasingly important, especially in sectors that don’t have access to computers. Employees need apps on their mobiles to access payroll data on the go, while managers need to access team information anywhere, at any time.
6. How scalable is your system if we expand or downsize our business?
As a business, you expect ups and downs. You could be expanding or downsizing due to restructuring, in any case, you will need your provider to be flexible enough to scale up and down according to your needs. Ask for previous examples on how they scaled the system to meet client needs.
7. What is your level of data security/accreditation?
Data security has been headline news recently. Payroll data is some of the most sensitive business data, so security standards must be high. Ensure they adopt high standards like being ISO 27001 compliant. If the provider is compliant, it is a good chance they are a reputable and a non-risky vendor.
8. What is your pricing structure?
Money talks! Make sure the vendor gives you a thorough pricing structure and the price of additional features should you need them in the future. This prevents any hidden costs that may potentially be from monthly subscriptions and additional fees for extra services. You should also take note that the scale, timeline, and complexity of the project will also dictate the pricing.
9. Do you have any complementary HR services?
After you have identified that they are a specialist payroll service provider you can ask if they offer any complementary HR services. Nowadays, many top payroll service providers offer additional services as they can enhance your payroll experience and help operations. Services could include employee assistance programmes, secondment services, employer branding, employee data management, and visa services.
Why a Strong Payroll RFP Will Help You Find the Best Payroll Service Provider
A good payroll RFP will help you find the most suitable payroll vendor for your organisation. Through the response of vendors to your RFP, you will be able to remove incompatible providers that don’t meet your needs. In your RFP you will need a clear application process, lay out the evaluation criteria, and complete set of questions. If you don’t know how to create a good payroll RFP, read our blog and download our free payroll RFP template now!
Are you having a hard time managing and approving payroll across multiple countries? Links One consolidates your regional payroll into one centralised system so you no longer juggle between different providers. The cloud-based payroll system allows you to have a clear oversight of your cross-country payroll, transfer payroll data securely, and avoid payroll errors. To learn more about how Links One can help your business contact our team now!
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Links International is an industry leader in innovative HR outsourcing with services such as payroll outsourcing, visa application, PEO/EOR Secondment, outplacement, recruitment and more! Contact us for more information on how we can help leverage your HR function.