WEST CHESTER, Pa. — National Payroll Week celebrates the hard work of America’s 150 million wage earners and the payroll professionals who pay them.
According to the American Payroll Association (APA), payroll firms help U.S. businesses contribute, collect, report and deposit approximately $2.2 trillion, or 67% of the annual revenue of the U.S. Treasury. With such high stakes, the APA is using this week to advocate that business owners vet their payroll providers with extreme care. To help small businesses with the process, PrimePay, LLC today released an updated free eBook titled Four Things to Consider When Choosing a Payroll Provider.
“Our business model is to help small businesses grow. It is good for the economy and innovation,” said Eric Hernandez, Vice President of Client Success at PrimePay. “Many owners might not know what to look for in a payroll firm. That’s why we’ve put together a free eBook explaining the top things to consider before signing a contract with a payroll company.”
The average small business owner spends 20% of their time on payroll, or nearly 400 hours per year. With increased regulations and compliance, payroll is much more than paying employees and taxes.
Today, employers must also be on top of payroll tax payments and filings, HR and benefits administration, workers’ compensation insurance, COBRA administration, retirement services, time and attendance, and employee scheduling. If mismanaged, businesses may face significant fines and penalties. This can ultimately even mean closing their doors for good.
“Outsourcing payroll is a smart decision. Our hope is that our eBook educates businesses so they can make informed choices when selecting a service provider,” said Hernandez. “If an owner chooses a company other than PrimePay, we are happy in knowing that we were still able to aid in their success by offering this tool.”
National Payroll Week 2016 is celebrated September 5 – 9. Click here to get your free copy of Five Things to Consider When Choosing a Payroll Provider.
Founded in 1986, PrimePay® is a leading national human capital management (HCM) technology and services provider to businesses ranging from 1 – 5,000 employees.
PrimePay delivers highly configurable cloud-based software and services enabling clients to hire and retain great talent, manage and pay their workforce, and optimize their business in an everchanging compliance landscape.