Outsourcing Your Payroll

Now that you have distributed all of the W2’s to your employees it may be time to review your payroll and HR practices. 

Review the article below on the benefits of outsourcing your payroll.

 

Why?

• Focus on your business – Payroll is an extremely important part of running your business, but it shouldn’t be a major task each week.
• Reduce the chance of tax penalties – According to the IRS, 40% of small businesses pay an average penalty of $845 per year for late or incorrect filings.
• Reduce internal Risk – By outsourcing payroll to a third party the chance for internal fraud is drastically reduced.
• Scalability – In most cases whether your organization has 10 employees or 100 employees, the amount of time it takes to do payroll does not increase.
• Employee Retention – Your employees don’t like to wait in lines at the bank, with Direct deposit they don’t have to wait
• Improved Business Management – With the Employee Hub your employees can request time off, clock in and out, or retrieve old pay stubs!

What can it do?

• Employee Access – Your employees can retrieve paystubs and W2’s via their PC or smartphone
• Tax Service - Leave the worries and hassles of payroll taxes to the experts. We will pay and file your taxes electronically for you.
• Direct Deposit - Let your employees avoid bank lines, we can directly deposit their money electronically on pay-day. Debit cards and on-site check printing are also available.
• Employee Time & Attendance - Allow employees to clock in/out from any PC or device as well as reduce data entry at payroll time through automated time-tracking.
• Employee HUB - Intranet for your employees. Clock in/out, request time-off, receive paystubs, and even share messages and documents.
• Text Notifications - Receive text reminders to process payroll as well as text messages after payroll has been processed for items like "Required Bank Deposit" for the current payroll.  Your Employees can even receive a text message telling them their Net Pay or Time-Off Balance

How much is it?

Pricing starts at around $50/month for fully outsourced payroll.

What do I need to get started?

• Your bank routing and account number
• Your Employer Identification Number (EIN)
• Your Contact Information

This products sounds like a good fit for my organization, what’s next?

Ready to get started?  Give our payroll experts a call at 855-870-5241

Have more questions?  Give Nick Oehmke a call at 217-726-0602

Sounds great, but I just want to provide my employees with Direct Deposit.

Outsourcing payroll isn’t for everyone.  But contact Nick Oehmke at 217-726-0602 to find out how we can start a direct deposit program that fits your business.

Visit www.ibankmarine.com/<shortcut> to learn about Marine Bank’s other Treasury Management Services.