Payroll is One of the tasks indispensable in your corporate, Manage it well make your employee happy with work and effort to contribute more to your business. Moreover, your business doesn't get any trouble with the authorities with a good payroll management system.
Payroll management is like an iceberg. You can see that is a very simple task, but it is just three floating part you see, and the hassles as seven parts of the iceberg hidden below the surface you can't see them until your corporation faced with trouble.
4 invisible hassle in payroll management which almost business get:
Inconsistent/ no backups internal record:
In-house payroll management helps you control well over the aspects of your payroll, and the flexibility to make change more easily. However, managing payroll in-house causes to inconsistent data when your payroll staff suddenly quit or sick/ maternity/ accident leave…, newcomer needs time to get acquainted with your payroll system. Inconsistent data can lead your business to nightmare chain of wrong calculation and take a lot of time to solve problems.
Non-compliance/ not to keep up with frequently changeable legislation:
Vietnam's labor law regularly updated, so non-compliance is a common problem in businesses when you are too busy to update in time the changes of regulations. You have to face with hassle as calculate wrong the payables to Tax Department or Social Insurance agent....
Complex office administrative procedures
There are many compulsory administrative procedures, which you must do directly with the authorities; you will take a lot of time to back and forth in government office because of unfamiliar procedures
A lot of incurred cost in payroll management
3 hassles above are the reason incurred unexpected costs. You may spend much money in software to support for tasks of payroll management or non-compliance and complex office administrative procedures causing unexpected costs as fine, travel expenses...
Why do you have to spend a lot of costs for a non-profit function like a payroll? Payroll outsourcing is the logical solution let you release hassle, free to focus on your core business.