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The Top 4 Payroll Challenges That Small Businesses Face When Doing Payroll In-House


As Hercules learned in his story, no one gets anywhere without facing some challenges along the way. While it’s true that challenges can be good ways to learn, when it comes to payroll, sometimes these challenges can cause costly errors and repercussions. Wouldn’t it be great if, like Hercules, you were given superhuman strength to help you overcome your trials and tribulations? While we can’t grant you literal superpowers, we can help give you the power to take on the main obstacles that small business owners face. Keep reading to learn the top 4 payroll challenges that you and your business need to watch out for. 

 

1) Dealing with a hybrid workforce 

Managing payroll for both in-person and remote employees can get confusing. The compensation may differ between these two types of employees and can make pay periods even more complicated. As we discussed in last week’s post, it can be helpful to keep accurate records of the classification of each employee. 

 

2) Compliance with laws and regulations 

Payroll compliance can be difficult to keep track of, with the rules and regulations constantly changing. A great way to keep track of these rule changes is to schedule a time each year to review the payroll compliance rules of your industry.

 

3) Manual methods

Many companies use out of date manual inputting methods and older payroll software, which both work to slow down the payroll process. A great way to increase efficiency is to outsource your payroll to standardize the payroll data. 

 

4) Choosing a payroll service provider 

Trying to navigate the outsourcing landscape can be overwhelming. Some companies may provide more bells and whistles than you may want for your small business. It is important to find the right provider whose services align with your needs. 

 

As it’s clear to see, payroll comes with its own slew of challenges and obstacles. But with the right knowledge and understanding, you can better predict and solve the problems that do arise. As a small business owner, you may not always have the time to fully commit to your payroll process. Luckily, there are teams of professionals that specialize in helping small businesses with their payroll. Here at STEPS, we provide tailored payroll services that are oriented to you and your businesses’ needs and goals. To learn more about the payroll services we offer, visit our payroll tab or reach out to us on our contact page.

 

 

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