Cost of Doing Payroll In House (Hidden Costs Revealed!) - Centelli

Aneesh Gupta25 Jul, 2024Business

The cost of doing payroll in-house can be much higher than you might realize. While expenses such as payroll staff salaries, software, and office supplies are apparent, they?re just the top layer! Beneath this surface, numerous hidden costs?both tangible and intangible?can quickly add up. These can include mounting overheads, inefficient workflows, compliance risks, workload stress leading to employee burnout, and more. Identifying these hidden costs allows you to accurately assess: How efficient and effective your payroll department is. What needs to be improved, and what should your course of action be? Is it becoming increasingly expensive? So, should you continue managing payroll in-house or explore outsourced payroll option? Well, it?s entirely up to you, but having the full picture helps!