The payroll function
The payroll function in any business is a critical function but it is not a profit centre and it is not core to the company’s success. However, even though this is a not a profit centre, if the payroll tasks are performed poorly, this will affect employee engagement, which will ultimately affect the profitability of the business. It is crucial that the payroll office runs effectively and efficiently, allowing employees to be paid correctly and on time and ensuring that the company meets all statutory payroll requirements.
Compliance and legislation
You don’t want to be in the “hot seat” with SARS when it comes to non-compliance issues or missing payment deadlines, hefty fines have been known to result in companies having to shut their doors.
Keeping ahead of the wide range of laws and governance rules and regulations takes valuable time, research and knowledge, time that can be far better spent by your staff on other core business critical issues. Parity’s outsourcing division defines compliance as a key performance indicator in our service level agreement so we ensure that we are up to date, not only with current compliance rules & regulations but that we have a full understanding of forthcoming changes and additions. We have an extensive knowledge of tax laws, council regulations, and labour agreements thereby mitigating our customer’s risk of penalties for noncompliance.
Although our outsourcing clients won’t need to invest in the purchase, implementation and support of a payroll solution, it is important to know what technology is being used and how this will better serve your workforce. Employees are able to operate more efficiently when they have access to their payroll information – anywhere, anytime. We have selected the best of the best in payroll solutions to cater to our client’s specific needs.
We realise that not all clients need a permanent outsourcing service. If you are implementing a new system and require a temporary outsourcing service whilst you are training staff and preparing to go Live on the new solution, we are happy to provide this service to you on a month to month basis.
“Insourcing” HR and Outsourcing Payroll
You may be in a position where you have an established HR department driving your HR strategy. Parity can assist in managing your payroll in support of your in-house HR function. The technology we use can be implemented as an integrated Payroll and HR solution, allowing HR to access the same database to manage employee development, track employee performance and access HR analytics, whilst Parity takes care of HR administration and payroll processing in the background.
The payroll can easily be handed back to you once you are ready to take on this function without the need for re-implementation or transfer of data. Access to the payroll can be disabled for Parity and enabled for your own Payroll team once you are ready. Parity can provide continuous support to your payroll team on an ad hoc basis after the payroll process has been successfully transferred to your team.
Benefits of outsourcing your payroll
- No software or implementation costs
- No software support or IT related problems
- No annual licence fees
- Guaranteed payroll compliance
- Frees up time and resources to focus on your core business
- Possibility for HR to be managed in-house and payroll to be outsourced using the same central solution
- Employee engagement with the Self-service functionality
- Cost effective from as little as R25.00 per employee per month
- Choice of best of breed product platforms
Parity Payroll division have more than 30 years’ experience in the payroll industry and have assisted many companies with their HR & Payroll needs. Contact us today to see how we can assist your business with your HR & Payroll requirements
Would you like to setup a meeting to discuss your HR & Payroll needs?