Managing a team of employees requires a lot more work than simply the day-to-day operations of your New Mexico business. Handling the payroll for staff can be time-consuming and fraught with risk if not handled accurately. A solution is to work with a trustworthy payroll service provider like The Hire Firm. By partnering with The Hire Firm, you can hire employees but opt to have them be on our payroll and delegate paycheck distribution, tax withholding, and other compensation and benefits. Discover more about the role of payrolling services in reducing overhead:
Streamlined Hiring Process
Once you have made a hiring decision and extended an offer, the logistical parts of onboarding new employees and getting their pay information officially entered into your system and finalized can slow things down. Working with a company like The Hire Firm for payrolling services can pay off with a much more streamlined hiring process. After you make your final choice and the candidate has accepted, you can start their training and know the financial aspects are being handled.
Risk Management
Dealing with payroll in-house comes with a strict responsibility for compliance, such as state and federal tax regulations, that can have very costly consequences if errors are made. A major advantage of payrolling services is risk management. The Hire Firm will take on the compliance for payroll, such as appropriate withholding of payroll taxes and ensuring workers are classified appropriately for tax purposes.
Reduced Administrative Tasks
If you don’t have a dedicated employee for payroll, it can be difficult for higher-level leadership to juggle the additional responsibilities on top of their regular workload. Payrolling services cut down on overhead via reduced administrative tasks on your company’s end. The Hire Firm will take on the time-consuming duties related to payroll, including collecting and managing timesheets, processing payroll, implementing direct deposit, and administering benefits, which reduces the burden on you and your team.
Cost Savings
It can be pricey to hire an additional full-time employee to perform payroll duties, but it can be even more expensive if another employee without the proper expertise takes on the responsibility and makes mistakes. Opting to outsource payrolling services to The Hire Firm has the significant benefit of cost savings for your organization. The amount paid to a third party is more affordable than the salary, benefits, and other expenses related to a full-time employee, and you can prevent your business from incurring penalties and fees due to errors.
Recruit Employees in New Mexico
The Hire Firm is a top provider of professional recruiting and temp services in Santa Fe and Albuquerque, NM. We have been working with New Mexico employers for nearly thirty years and are dedicated to helping our clients build their teams with the most qualified prospective candidates. Contact us today to learn more about our recruitment services.