5 Reasons Construction Companies Should Outsource Payroll
3 Pages
English

5 Reasons Construction Companies Should Outsource Payroll

-

Downloading requires you to have access to the YouScribe library
Learn all about the services we offer

Description

5 Reasons Construction Companies Should Outsource Payroll BenefitMall serves a lot of different industries across our extensive client base. One industrythat does not see a lot of action, even though it should, is the construction industry. Outsourcedpayroll services are as important to construction companies as theyare to retail businesses, restaurants, manufacturers, and light industrial enterprises. &RQVWUXFWLRQ LV VRPHZKDW XQLTXH LQ KRZ LW KDQGOHV HYHU\WKLQJIURPSD\UROO WR ZRUNHUV¶ FRPSHQVDWLRQ Much of this has to do with the proliferation of workers classified under different rules of employment. The difficultyof applyingall of these rules correctlyis evidence that construction companies would benefit greatly by outsourcing payroll. Doyou own a construction company? Haveyou been consideringworkingwith apayroll services firm to handle back-office functions? If so, below are five reasons for making a move. 1. Legal Compliance It is not uncommon for construction companies to hire workers with different employment statuses. Salaried and hourlyemployees maymake upthe base of on-site labor as well as fillingout the office. But contractors and subcontractors are also likelyto be used at some point. Keepingtrack of all of this can be a compliance nightmare. BenefitMall As experts in payroll and taxes, we do more thanjust pluggingnumbers into a basic payroll calculator. We know the law and how it applies to workers in all employment classes.

Subjects

Informations

Published by
Published 19 August 2016
Reads 2
Language English

Exrait

5 Reasons Construction Companies Should Ou tsource Payroll BenefitMall serves a lot of different industries across our extensive client base. One industrythat does not see a lot of action, even though it should, is the construction industry. Outsourcedpayroll services are as important to construction companies as theyare to retail businesses, restaurants, manufacturers, and light industrial enterprises.
Construction is somewhat unique in how it handles everythingfrompayroll to workers’ compensation. Much of this has to do with the proliferation of workers classified under different rules of employment. The difficultyof applyingall of these rules correctlyis evidence that construction companies would benefit greatly by outsourcing payroll.
Doyou own a construction company? Haveyou been consideringworkingwith apayroll services firm to handle back-office functions? If so, below are five reasons for making a move.
1. Legal Compliance
It is not uncommon for construction companies to hire workers with different employment statuses. Salaried and hourlyemployees maymake upthe base of on-site labor as well as fillingout the office. But contractors and subcontractors are also likelyto be used at some point. Keepingtrack of all of this can be a compliance nightmare.
BenefitMall
As experts in payroll and taxes, we do more thanjust pluggingnumbers into a basic payroll calculator. We know the law and how it applies to workers in all employment classes. We also know how to work within the rules to guarantee legal compliance for our clients.
2. Reduce Labor Costs
Construction is a labor-intensive industryno matter howyou slice it. Therefore, it benefits construction companyowners to limit office labor in favor ofputtingmore workers on thejob site. One wayto accomplish this is to outsource payroll. Workingwith a payroll services provider eliminates the need for any kind of payroll staff while also simplifying back-office tasks.
3. Increase Your Cash Flow
One of the biggest challenges in construction is makingsure laborersgetpaid on time. The construction companymust wait togetpaid itself, so a lack of funds due topoor accounts receivables can lead to paychecks that do not arrive when they should.
Our construction-specific solution increasesyour cash flow bymakingsureyouget paid more quickly. You'll havegreater cash resources for newjobs,your workers willgetpaid aspromised, andyour business will maintain all legal compliance. Furthermore, designatingfunds to apayroll account removes the temptation to use the money for other purposes.
4. Accurate Reporting
A bigpart ofpayroll is reporting. But notjust a few things here and there;you have local, state, federal and union reportingobligations to worryabout. Our reportingsolutions are fullycertified for yourprotection,plus we offer out-of-the-box union reportingwith true labor costingand manningreports.
A failure to file accurate reports is a good way to land your company in trouble. It will never be a problem when you use the BenefitMall solution specifically designed for the construction industry.
5. Reduce Stress
Lastly, construction companyowners have enough to worryabout without needingthe additional stress of handlingpayroll. Outsourcingpayroll immediatelyeliminates that stress. This one reason alone has been the impetus for many of our clients signing up for services.
BenefitMall
The construction industryoffers special challenges in relation to payroll and taxes. Ifyour companystill does things in-house, we inviteyou to consider thepayroll services offered byBenefitMall. Partneringwith us can reduceyour labor costs,guarantee legal compliance, and relieve the stress that comes with handling payroll yourself.
We currentlypartner with more than 3,500 tri-state construction companies who have come to relyon us for great value and trustworthy service. We want to be your payroll and reporting partner as well.
See the difference with apayroll solutionspecificallybuilt for the construction industry.
BenefitMall