Diamond PEO provides accurate federal, state and local compliant payroll solutions complete with secure processing, tax withholding, and reporting, all in one place.
One of the most important HR responsibilities for an employer is their payroll processing. When a company doesn’t have a payroll department or a payroll professional on staff, payroll processing can be especially difficult and frustrating.
Diamond PEO payroll processing services offers several benefits to small businesses and employers. Not only can it save a business owner time and energy, but employers can rest assured that our payroll processing professionals will keep all processes and procedures in compliance with the latest payroll laws and regulations, avoiding potential penalties and fines.
Companies that choose to outsource their payroll services receive a variety of benefits. Here is a list describing some of the most important benefits.
- Compliance
Companies that specialize in offering payroll services continually monitor federal, state and local laws and regulations pertaining to employee payroll, employee hours, filing deadlines for federal, state and local taxes etc. These regulations can change at any time. To avoid costly litigation or fines, businesses need to be in full compliance with these laws and regulations. The surest way to stay in compliance for a small business with limited staff is by outsourcing their payroll to a business such as a PEO that specializes in providing payroll services for businesses.
- Cost
A small or medium sized business must consider the cost of providing payroll services “in house” compared to outsourcing those services. A full or part time employee dedicated to providing payroll services is very costly for a business. Employee wages and benefits will likely exceed $25,000. for a part time employee and more than $50,000. for a fulltime employee.
A payroll service like Diamond PEO typically costs 20% to 50% less than the cost of a part-time or fulltime employee. Those savings can be used for other business expenses, for employee wages or they can be kept as profit.
- Focus on Running the Business
A small business has a limited number of employees to dedicate to various essential tasks. Giving an employee the responsibility of providing payroll services for the company, limits their time for other essential duties. If the owner is doing payroll, then they cannot dedicate as much time to other important responsibilities such as training employees, managing employees. planning, budgeting etc. Outsourcing payroll services gives company employees and the business owner more freedom to take care of business matters that will contribute to business growth and success.
Diamond PEO can make a real difference for your business. When it comes to payroll, Diamond PEO has the experience and capabilities to handle even the most complex payroll requirements. We offer reasonable rates and will keep your business in compliance with all federal, state and local laws and regulations so you can focus on running your business. Call us to day to learn more!