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Payroll Services
- Benefits of Payrolling/EOR services
- What is payrolling and why do you need it?
- What is an employer of record (EOR)?
1. Cost-Effectiveness
Outsourcing payroll eliminates expenses like Social Security, Medicare, state unemployment taxes, and employee benefits, thereby reducing costs by 16-20% of a typical base salary
2. Speed
Payrolling providers accelerate onboarding, allowing contingent workers to start quickly without administrative delays
3. Operational Efficiency
By delegating onboarding and offboarding to a payrolling partner, HR teams can focus on strategic priorities instead of time-consuming administrative tasks
4. Compliance And Risk Mitigation
Payrolling providers ensure all contingent workers are employees of the EOR, protecting your company from co-employment risks and compliance issues
5. Flexibility
Payrolling allows companies the flexibility to keep workers on long term contractual engagements or evaluate workers on a short-term basis without risk
6. Peace of Mind
Payrolling services improve cost savings, boost efficiency, and minimize compliance risks, making it a valuable solution for managing contingent staff.
As businesses increasingly rely on temporary staff to manage fluctuating demands, pay rolling services—also known as employer of record services—offer a streamlined way to manage contingent workers while reducing the burden on HR teams
An employer of record is a third-party provider that assumes responsibility for payrolling temporary staff. This includes handling taxes, unemployment insurance, workers’ compensation, and employer benefits while mitigating co-employment risks for the company
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