If you have kids, you’ve probably figured out that as your family grows, so grows your vehicles. Maybe you’ve been driving something sleek and sporty but then you learn there are twins on the way and suddenly that minivan you said you’d never buy may be in your driveway sooner than you think.
And then those babies become teenagers who are eating you out of house and home and outgrowing their shoes every six months. Growth is exciting and can birth opportunities, but it’s also costly and can bring growing pains.
For the past several weeks we’ve been talking about the impact of growth, specifically on your payroll and HR functions. (You’ll see a complete list of posts at the end of this blog.)
If you manage payroll or human resources you will be on the front line of any growing pains your organization is experiencing.
Expanded locations or mergers and acquisitions (M&As) can bring new insurance, unfamiliar colleagues, updated policies, and a blended culture. This is where being able to count on a right-sized payroll solution can be a huge asset in knocking out one potential frustration.
Is Your Payroll Partner Up for the Task?
If your desire is to grow your business, it makes sense to choose the right partner when you are smaller, rather than play catch up while you are in an accelerated growth mode.
Maybe you’ve been managing payroll and filing payroll taxes on your own. This task gets a lot more complicated when you’re doubling the number of employees and dealing with multiple states. Now may be the perfect time to reap the benefits of a payroll partner. Not only can a payroll partner help with compliance, but they also offer additional tools to simplify your HCM tasks.
Or maybe you already have a payroll partner who has been doing an adequate job for your business of 30 employees, but now that your staff has grown to 50 people and you’ve opened an office just over the state line, you are concerned they may not be keeping up.
Here are some things you should consider if you’re starting your search for a payroll provider or think you might be outgrowing your current one:
- It’s all about relationships. Any payroll vendor can promise you the moon and the stars to get your business. Then you’re offloaded to an 800-number where you talk to someone new every time you call. Find a provider where you can establish an ongoing relationship with someone knowledgeable who you trust to give you honest advice about your changing needs.
- Avoid the bait and switch. Some payroll providers will sign you up for one platform, but as you grow switch, you to a bigger platform, which is often more expensive and can feel like starting from scratch. Ask how your service and software may change as your company establishes new locations, acquires another company, or adds more staff.
- Flexible features. When you’re considering a payroll provider ask how their system will be tailored to your growing business. For example, if your business exceeds 50 or more full-time employees, you’ll need software that offers benefits administration.
- Specific and secure. Find out how customized your provider can get in the configuration of security roles. Make sure that you can give appropriate system access to additional HR staff—such as an assistant—as you scale responsibilities.
In Your Corner
Some payroll providers sell software and consider their job done. That’s not who we are. We consider ourselves partners. We are committed to working closely with you throughout all of the chapters in your business’s story to champion your success. If you’d like to learn more about how we can simplify your payroll and HCM processes, schedule a free 30-minute appointment here.
If you’re just joining our series on growth, welcome. Here are our past posts to catch you up.
- Company Growing Overnight? What You Need to Do to Ensure Payroll and HR Keep Up
- What You Need to Know About How a New Location Impacts Your Payroll and HR
- How M&As Affect Payroll and What You Need to Do About It
- Four Ways You Can Soften the Impact of an M&A for Your Employees
- When Two Become One: How to Manage Merging Cultures During an M&A