By: Sheri Blaho
I stumbled across a great article on the web today that I think is spot on. I encourage you to take a few minutes to read this one. The author, Marshall Jones, does a great job recapping the benefits of each option. I think he gives a very impartial view that may help you if you are on the fence in your decision about doing payroll in-house or out-sourced.
The big benefits he touts for in-house is:
- * Instant Access to Your Data
- * Usually Cheaper
- * You May be Doing Most of the Work Anyway
One thing he did not point out, that I would add to the benefits is "Single Point of Truth". With in-house payroll the connections to other employee-centric data is typically much tighter. For example, your employee recruiting module can immediately update payroll when a candidate is converted to an employee. Each time an employee is added or removed your time collection system, being fully integrated, will not require duplicate entry. Employee Self Service can include both payroll information (like Pay Stubs and W-2's) and HR information such has job history, promotions, training and other data that resides with your HR system.
Check out this article.
After selling Sage HRMS and Sage Abra, I am a believer. I think most companies will typically save money by bringing payroll in-house.