Denver’s Premier Payroll Services Provider
For many small business owners, outsourcing payroll services and tax duties has become something of necessity. Although these payroll processing services play a vital role, many small business owners in the Denver Colorado area start to feel uneasy when they have to think about it. Many small business owners who would rather outsource these duties because it merges the necessary tools and internal support needed for payroll processing to be done while allotting the additional workloads to be outsourced as well. Colorado Payroll Services can provide small businesses with all-inclusive services in the areas of payroll services and human resource administration. By offering small business owners a comprehensive way to maintain their employee payroll, the employer can be guaranteed that each employee will receive the correct pay and receive their paycheck in a timely fashion. Many seasoned business owners understand that delays and errors can cost them productivity, employee assurance, and most of all penalties.
Payroll Services Outsourcing For All Your Business Payroll Needs
Outsourcing your payroll services and any HR administration needs of your company will help to alleviate the additional stress that many employers are faced with in running their businesses. Finding a reliable payroll outsourcing company is key and the payroll service company should also be able to implement the correct system that will work for your individual business needs.
Human Capital Management and Time & Attendance Systems
Another key component is tracking employee time with accuracy, as it will protect a business from considerable regulatory exposure and will significantly reduce labor costs by eliminating errors and the over reporting of time worked. Some small business owners may seek a simplified system (web-based or software) that can easily be deployed and can closely monitor employee activity. Other business owners may seek a more sophisticated web-based time system that can provide time off management, scheduling, automatic tracking of shift differentials, multi-state labor law profiles, employee self-service portals and even mobile applications to track time & labor distribution in the field. Time & Labor Hardware options can consist of clocks that allow employees swiping an access card or badge, to use a thumbprint or hand for verification, or even logging into a personal computer or commonly used workstation “kiosk style”. Automating time & labor data collection will provide a business many benefits such as a more efficient payroll services process, reduced effort for your payroll staff, and the creation of far more legitimate time tracking process that will help a business get closer to being truly “audit proof” if the DOL shows up at your door.
PEO Services Administration
In a world of significantly intricate work legislation, a Professional Employer Organization (PEO) provides important knowledge in human resource monitoring as well as presumes some threats and duties on behalf of its client business.
You, the business owner, keep workplace management and also managerial control of your employees. You still decide who to employ and who will be discharged. You still choose the establishment and implementing of a pay scale. The PEO becomes the “employer of record” as well as “back office support business” and deals with some aspects of payroll, safety, risk administration, and also assists with Human Resources (HR) management. They manage as much or little as you desire and usually have specialists on staff that cover whatever impacts the life process of an employee. From background checks to wage studies to handbooks to compliance to run the risk of administration to terminating a staff member. The option is yours.
They likewise offer or have accessibility to benefit solutions and a host of other solutions and choices at reduced expense that make them a great choice for businesses seeking to get to a few of the exact same offerings that Fortune 500 firms have accessibility to. Not just do they use a lot more, they typically handle all the management of these things.
Exactly what does this mean for you business owner? Even more assistance, even more solutions, more things in order to help you recruit or keep your employees AND ALSO more time to concentrate on what you do best … run your company!
Benefits Administration and 401K Administration
Just like larger corporations, many small businesses offer a form or retirement planning. Most business owners and their employees probably see their retirement as a time when they can stop or reduce working and take the time to do the things they’ve always dreamed about such as spending more time with their kids and their families, traveling, relocating to a warmer climate, and so on. Employees understandably want to safeguard their retirement savings that will act as their future financial cushion, however few actually know how make that happen on their own. Nowadays there are so many investment options available, it is practically impossible to attain one’s financial goals without some type of guidance. Colorado companies and their employees deserve a retirement strategy that involves personalized, ongoing, face to face retirement advising to help provide the peace of mind with knowing their financial future is secured.
HR Resources and Human Capital Management
If you analyze the most profitable and successful companies in any business sector, you will probably find that they have put in place effective strategies to maximize ROI for their largest capital investment – their employees. Starting with the recruitment process to keeping the employee informed once they become part of the organization, these are key elements that will aid in building a solid foundation. Employers need to keep their employees well-informed of updated policy changes, new criterion and changes in benefits as this will allow all employees not to be misinformed regarding vital information which they need, and in turn this reflects positive employee and employer relationships. When businesses are able to turn these duties over to another source, they can then focus more attention on growth and success. For those businesses seeking these types of payroll solutions, Colorado Payroll Services can meet and exceed all of your business needs.