Total Cost of Doing In-House Payroll

Most business owners have never thought to calculate and compare the costs of doing in-house payroll vs. outsourcing payroll processing.  Here are a few things to consider before you continue to process your payroll in-house:

1. Your payroll costs are spread out among many functions so it's difficult to accurately determine all the cost components.

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2. You are already having someone that does payroll so you don't ever think about it.

3. Most business owners have never tried to put the costs together.

4. You've been doing it this way for years.

5. You think your payroll processor is fully aware of all federal and state employment tax laws and regulations. 

In-house “hidden costs” continue to account for more than 50% of the total cost of administering payroll in-house.  In fact, the total cost for payroll is actually increasing, contrary to expectations and despite technological advances, administration costs have actually increased rather than decreased as organizations focus on technology transformation rather than process transformataion.

If you would like to know your total cost of doing payroll in-house feel free to contact us!

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