Outsourcing Your Payroll Services in Kenya.
You’ve probably thought about outsourcing your payroll services in Kenya. But you decided it was better to do your payroll in-house. According to you, having your own staff conduct payroll is more cost effective for your business, and ensures you maintain control. You believe outsourcing payroll services is making you lose control and is a waste of money.
But what if those beliefs were wrong? What if outsourcing payroll would save your company more money and time? Would you consider it? Organizations spend about 40 to 60 percent of their revenue on payroll. This means that payroll processing is a very important task for any business, and when done wrong, it can cause irreversible damage.
So why not outsource your payroll services in Kenya to firms that will take every measure to ensure there are no mistakes? In this post, I will share with you critical signs your organization needs to consider outsourcing payroll.
5 Signs it’s Time to Outsource your Payroll Services in Kenya
1. You are making a couple or more of these mistakes
When it comes to payroll processing, an organization cannot afford any mistakes. Simple or major, payroll mistakes would cost the business agitated employees, penalties with the Kenya Revenue Authority (KRA) and even possible lawsuits. And recovering from this would be a long-term nightmare.
So if you are miscalculating over time, using the wrong payroll service, behind on tax filings or payments, running your payroll late, forgetting to keep records or going wrong on bookkeeping, it is time for you to consider outsourcing your payroll services in Kenya.
2. You are expanding your business to more regions or countries
Another reason for your business to consider outsourcing payroll services in Kenya is if you are planning to expand. It can be easy to conduct your payroll processes in-house if you have a small team in place. But when you expand operations in other regions and countries, it is vital to consider outsourcing. It will save you both time and money.
When operating in other countries, your business is prone to make payroll mistakes as you may fall short on some of the laws and policies in place. For this reason, you may want to consider outsourcing your payroll services to firms that offer that specific service. They keep up with the trends and are better placed to do payroll on your behalf.
3. Your business has been a victim of internal fraud
It is not news when a business or organization in Kenya suffers fraud from their employees. In some cases, it is even expected. While you may want to have an entire team of honest people working for your organization, there may not luck one culprit intending to profit (in a bad light) from your business. And if that person is in your accounting department, your business will be headed for great losses.
But you can avoid this if you allow another firm to handle your payroll services in Kenya. By outsourcing payroll, you are entering into a contract with an organization to handle your salary payments and tax filings. As this is a service offered, if you choose the right organization, you can rest assured there will be no fraud taking place.
4. You are not happy with your payroll department
If your business has a payroll department that is constantly making mistakes or requires training for every new hire, you are bound to have sleepless nights. If you are firing and hiring people in that department, you will always feel the need to follow up on their every task. Why? A payroll mistake will cause major damage to your business. You know this, and you are scared of it.
Instead of having sleepless nights wondering if your payroll department will lead your business into KRA penalties or battles with employees, consider outsourcing your payroll services in Kenya. It will lessen your worries when you know your organization’s payroll is being handled by experts.
5. You are spending more time than you have handling payroll
From small businesses to large organizations, payroll processing can be a headache. If you are feeling drained from handling your employees’ and company taxes, dealing with tax accountants or tired of simple mistakes, consider outsourcing payroll services in Kenya.
And if you find the process of payroll a time-consuming affair, the best decision for your business would be to outsource the task to a capable firm. Think about it. Whenever you are dealing with certain important tasks you know will take more time than you have, you always outsource them to someone else. So why should payroll processing be any different?
In the end…
Handling payroll services in Kenya is not easy. It is also not a delight unless you are an Accountant and that is your specialty. Luckily for you, there are firms, like Corporate Staffing Services that will offer to handle this daunting task on your behalf. They will do the dirty work when you concentrate on other important areas of your business.
Click here for details on our Payroll Services, or write directly to firstname.lastname@example.org and copy email@example.com for further assistance with your payroll matters.