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By scrolling this page, clicking a link or continuing to browse our website, you consent to our use of cookies as described in our Privacy Policy. OK Skip to main content * * Log In * Show submenu for Services Services * Services Overview * Payroll * Human Resources * Workers' Compensation * Health Benefits * Staffing & Recruiting * Retirement & 401(k) * Risk & Safety * Technology Solutions * Business Strategy * Show submenu for Partners Partners * Referral Partner Program * Partner Learning Hub * Partner Stories * Refer a Client * Promotional Materials * Show submenu for Investors Investors * Investor Relations * News / Events * Company Information * Financial Information * Stock Data * SEC Filings * Governance * Show submenu for About About * Locations * About Us * Client Stories * Industry Experience * Business Unit Team * ESG Policy * Show submenu for Resources Resources * Resource Center * Events * News * Podcast Open main navigation Close main navigation * Show submenu for Services Services * Services * Services Overview * Payroll * Human Resources * Workers' Compensation * Health Benefits * Staffing & Recruiting * Retirement & 401(k) * Risk & Safety * Technology Solutions * Business Strategy * Show submenu for Partners Partners * Partners * Referral Partner Program * Partner Learning Hub * Partner Stories * Refer a Client * Promotional Materials * Show submenu for Investors Investors * Investors * Investor Relations * News / Events * Company Information * Financial Information * Stock Data * SEC Filings * Governance * Show submenu for About About * About * Locations * About Us * Client Stories * Industry Experience * Business Unit Team * ESG Policy * Show submenu for Resources Resources * Resources * Resource Center * Events * News * Podcast * Contact Us Contact Us I AM LOOKING FOR... * English - United States Referral Partner Learning Hub » Latest Articles Categories BROWSE ALL CATEGORIES * Business Development * Client Retention * Payroll Administration * PEO Partnership * Workers' Compensation ^ PEO NEWS AND RESOURCES FROM BBSI Referral Partners, stay up-to-date on the latest PEO news and information directly from BBSI. Find out how we can work better together. BBSI PAYROLL ADMINISTRATION: THE WHY, THE WHAT, AND THE HOW Business owners know nothing is more important to a workforce than getting paid on time. However, letting a third party handle regular payroll administration can feel a bit daunting. By helping business owners overcome this anxiety, you can help them boost their efficiency by removing a time-consuming task. Play Listen to the article: Payroll Administration: the Why, the What, and the How 7:51 As a trusted advisor, it's helpful to understand and convey the value of payroll administration to your clients. This can enhance your service offerings and contribute to your success. In this post, we’ll explain how to do just that. We’ll cover: * The finer points of payroll administration. * The benefits to both trusted advisors and their clients and members. * How to sell these benefits to skeptical clients, including 3 common questions you’ll get and how to answer them. By the end, you’ll be prepared to answer any questions from your clients, which means you’ll be better positioned to help them grow their business through efficient payroll. WHAT IS PAYROLL ADMINISTRATION? In short, payroll administration is the process of managing a company’s employee payment systems. Payroll administration involves: * Calculating wages. * Withholding taxes. * Maintaining payroll records. * Ensuring compliance with labor laws and regulations. * Tracking employee hours. * Managing benefits and deductions. * Issuing paychecks or direct deposits. A TIME-CONSUMING TASK THAT HAS TO BE ACCURATE Every business has to deal with payroll. It’s a time-consuming process that only gets more challenging the larger a company grows. Businesses that operate in multiple markets, or who have non-standard employees (e.g., remote workers or workers on flexible schedules), may have even more complex payroll needs. Most importantly, it’s a process that’s extremely sensitive to errors. Missed or delayed paychecks can cause major problems for a business’s employees, damaging morale and trust in the organization. Non-compliance with shifting tax laws can result in significant financial penalties. Repeated issues here can affect the long-term health of the company. Given its importance and the damage that errors can cause, businesses must devote the right amount of time and resources to getting it right the first time. This can be especially taxing to small and medium-sized businesses (SMBs), which already work with less manpower than their larger competitors. Third-party payroll administration offers a solution. WHY ADDING PAYROLL ADMINISTRATION SERVICES IS THE RIGHT MOVE FOR INSURANCE BROKERS Managing payroll is often a time-consuming and ongoing task that many businesses struggle with alone. Without substantial time and resources, companies typically need to hire skilled employees to handle payroll consistently each week. Small and medium-sized business (SMB) owners are especially affected by the time and complexity involved. As a trusted advisor, you can alleviate this burden for your clients by offering payroll administration services. This addition not only enhances your service offerings but also provides valuable support to businesses in need. THE BENEFITS OF PAYROLL ADMINISTRATION SERVICES Outsourcing payroll administration offers numerous advantages over handling it internally within a business. Payroll administration can: * Reduce the risk of errors that can lead to costly penalties and dissatisfied employees. * Reduce the risk of liability with ever-changing tax and labor laws. * Allow business owners and in-house teams to focus on strategic initiatives instead of repetitive administrative tasks, which can save time and resources. * Provide access to advanced software and expertise that might be too costly to maintain internally. * Provide access to a network of payroll specialists for unique or complex payroll situations. As a trusted advisor, helping your clients understand the value of payroll administration services can be the difference between you and your own competitors. However, anytime you’re dealing with a sensitive subject like payroll, you’re bound to encounter some tough questions and legitimate skepticism. HOW TO EXPLAIN PAYROLL ADMINISTRATION BENEFITS TO CLIENTS Businesses will rightly have plenty of questions when you raise the subject of payroll administration services. You’re trying to convince them to give up a significant amount of responsibility over the process, which can cause anxiety over who is ultimately responsible for their employee’s paychecks. When discussing the benefits of payroll administration with clients or members, highlight these key points: * Emphasize the reduction of liability and risk associated with payroll errors and non-compliance with tax and labor laws. * Point out the time and resource savings, allowing business owners to concentrate on growth and strategic priorities. * Explain how outsourcing payroll provides access to cutting-edge technology and expert support, which can be particularly beneficial for small to medium-sized businesses. * Additionally, stress the value of having a dedicated payroll specialist who can offer personalized support and guidance. * Lastly, showcase success stories or case studies that demonstrate how outsourcing payroll has positively impacted other businesses in similar industries. THREE COMMON PAYROLL ADMINISTRATION QUESTIONS AND HOW TO ANSWER THEM By understanding and effectively communicating these aspects, trusted advisors can help their clients and members make informed decisions about the benefits of payroll administration. * Why should we consider outsourcing payroll when we have an in-house payroll professional? Outsourcing payroll allows your business to leverage the expertise of a team of payroll professionals rather than relying on one individual. You’ll also gain access to advanced payroll technology that streamlines the entire process. This frees up your in-house employees to focus on strategic tasks like growing the business. * How does outsourcing payroll help with compliance issues? Professional payroll services stay updated with wage laws and tax requirements, helping businesses stay compliant, and avoid penalties. A dedicated specialist offers expert support and utilizes a national network for regulatory changes. * How secure is our payroll data with an outsourced provider? Reputable providers use advanced security measures like encrypted transmission and secure storage, complying with strict industry standards. This ensures high-level data protection that might be costly to implement internally. PARTNER WITH BBSI FOR A RELIABLE PAYROLL ADMINISTRATION SOLUTION Managing employee payments accurately, efficiently, and staying up to date on payroll laws is a tiring task for business owners. Outsourcing payroll offers significant benefits, such as fewer errors, assistance with complex regulations, and access to advanced technology and expertise. Insurance brokers can leverage these advantages to differentiate themselves and offer invaluable support to their clients, and BBSI is the perfect partner to provide this service. BBSI offers its referral partners access to a reliable payroll administration solution tailored to meet your client's needs. Our teams of dedicated payroll specialists help with accurate payroll processing, freeing up your clients to focus on strategic business growth. By integrating BBSI’s services, you can enhance value and help your clients confidently navigate the complexities of payroll. Contact BBSI today to explore how a partnership can drive growth and efficiency for your clients. Disclaimer: The contents of this white-paper/blog have been prepared for educational and information purposes only. Reference to any specific product, service, or company does not constitute or imply its endorsement, recommendation, or favoring by BBSI. This white-paper/blog may include links to external websites which are owned and operated by third parties with no affiliation to BBSI. BBSI does not endorse the content or operators of any linked websites, and does not guarantee the accuracy of information on external websites, nor is it responsible for reliance on such information. The content of this white-paper/blog does not provide legal advice or legal opinions on any specific matters. Transmission of this information is not intended to create, and receipt does not constitute, a lawyer-client relationship between BBSI, the author(s), or the publishers and you. You should not act or refrain from acting on any legal matter based on the content without seeking professional counsel. 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