As the COVID-19 pandemic has forced companies to adapt to the “new normal” at the workplace, many are considering optimizing efficiency and productivity. Outsourcing non-core functions like payroll have made way amid this scenario, allowing companies to switch from in-house operations to more professional advice.
Standing in 2021, payroll outsourcing provides a gamut of benefits as it allows businesses to save more time on mundane and tedious tasks. Hence, your HR team can focus more on managing the fast-changing scenario of today’s highly volatile employment market. Know how payroll outsourcing services can help your business amid the tough HR challenges in 2021.
Focus on Core Business Functions & Improving Employee Engagement
Disruptions and changes to business operations due to the pandemic have put immense pressure on HR departments and CIOs. Recruiting & repositioning, engaging employees in remote work environments, improving operational efficiency & productivity, etc. has become major challenges today.
Outsourcing payroll services allow companies to focus on their core business, enabling HR teams and other departments to work efficiently on strategic tasks that can help improve your bottom line. Do what helps improve productivity & engagement of your team and let experts like GOHRBPO take care of your Singapore payroll services.
Cut Down Operational Costs
The COVID-19 pandemic has made “work-from-home” the new normal. This has helped reduce operational costs significantly. Outsourcing payroll functions can further help cut costs associated with the space, man-hours and technologies needed to have an in-house payroll team.
Payroll outsourcing has brought significant transitions in today’s work environment, helping achieve high levels of cost-efficiency. It covers comprehensive functions like payroll administration, leaves & claims monitoring, timesheet management, electronic submission of IRAS, reconciliation and addressing payroll issues.
Government laws concerning employee payroll are getting more stringent. These regulations impact a vast number of factors like filing tax returns, calculating employee hours, etc. Non-compliance may result in hefty penalties. Outsourcing payroll compliance requirements to a professional can keep your business compliant in 2021 and ensure it is running smoothly.
GOHRBPO is a trusted HR outsourcing company in Singapore, having expertise in handling all aspects of payroll management – allowing businesses to achieve time savings, cost efficiency and operational leadership.