If you're still handling
Reasons for the new competition: cheaper technology, plus the small business sector remains a fertile market for those vendors. Fewer than 25 percent of small businesses outsource their payroll, according to the American Payroll Association.
How it works:
Advantages: reduced costs, less paperwork, added security and fewer mistakes. Downsides: new expenses, reliance on computers and training needed.
Many basic services cost less than $50 per pay period. Add-on features, such as benefit
1. Fiducial (www.fiducial.com) created a Web-based processing center that handles
2. Perquest (www.perquest.com) is now available to California companies and will expand nationwide starting in January. Cost: $49.95 per month, plus $4.95 per employee each month.
3. PayCycle (www.paycycle.com) services start at $19.99 per month for up to five employees and 99 cents for each additional worker.
4. Sam's Club (www.samsclub.com) offers
Several banks also offer, including Chase Manhattan (www.chase.com), Wells Fargo (www.wellsfargo.com) and Fleet (www.fleet.com). Community banks are joining the competition, as well. But be leery of banks' prices. Many banks use third-party payroll services and compensate them for partnerships or the right to use brand names.
- 10 Secrets to an Effective Performance Review
- Small Business Tax Deduction Strategies
- Turn your team into trainers
- Did employee file small claims case? You may get later lawsuit tossed
- Review duties, update job descriptions yearly to ensure employees are properly classified
- How to breeze through a surprise OSHA inspection