Opening a small business is an exciting time in a person's life. They are free from having an annoying boss and may not need to punch a clock, depending on what industry they work in. However, that doesn't mean they will be able to escape the headache of dealing with payroll.
Choosing a payroll provider is a stressful process. There have been many small businesses that believed they were making a smart move by going with one payroll service only to find that it didn't exactly fit well with their company. This is why before you can commit, you have to look at a number of things and ask questions that will help you decide if they will be a good fit.
Below, you will find questions that you should ask your potential payroll provider before moving forward with a relationship.
What services do you provide?
Your company will have specific needs that will have to be met by your payroll provider on a daily, weekly, monthly
and yearly basis. After you identify these needs, when you reach out to potential providers, be sure to ask them what services they offer. Ideally, you will be looking for one that can satisfy your company's needs and then some. Knowing what your company needs will help you eliminate certain providers because they won't offer the things you need.
Is your staff experienced?
Payroll is an important part of all businesses, so whoever is in charge of it, you want to make sure they know exactly what they are doing. Someone who is new to the business may be able to get the job done, but sometimes, a more experienced person or company is the one you want to trust. Don't be afraid to inquire about the staff's experience and whether or not they are professionally trained. This is something you need to know in order to make an informed decision.
What is the pricing structure?
Small businesses don't really have a lot of revenue when they are first starting out. If you decided to hire a payroll service, knowing what to expect in price every month or year is very necessary. Not only will this help you eliminate those that are too expensive, you will be able to budget properly for your company's expenses. No one like surprises, so when discussing prices with your potential payroll service, be sure you both clearly understand each other when it comes to how much you are willing to pay and how much they are going to charge.
People may be afraid to speak up and ask potential payroll providers things, but there is information they need to know before they can make a decision. After asking these questions, and maybe a few more, you should be able to get a better idea of what payroll service is suitable for your company. It may take some time, but if you choose a service that turns out to be the perfect fit, it will be worth it.