Canadian companies, especially those that are small and deal with workers who are remote, will find it beneficial when using outsourced payroll companies. The same goes for companies that are American, but choosing to work with Canadians, and are unsure how to process their payroll. This is because payroll in Canada is different than other countries, and there are often many considerations to make when dealing with foreign employees, including not having a social security number, and how to pay employees tax.
Outsourced Payroll Providers Take Stress Off Small Business Owners
When a company chooses to outsource payroll, that means they can focus on working on their business. Since many companies quickly find out there is more to handling payroll than ensuring employees get paid. By using an outsourced payroll processing firm, companies do not have to take into account anything except reviewing and approving the report for the payroll company. Canadian payroll is different than dealing with American payroll, including the lack of social security number, and staying compliant with the unique rules that must be followed for Canadian payroll.
When Using Outsource Payroll Services, Some Companies Offer HR Assistance
When it comes to dealing with foreign employees, some companies provide HR assistance. This can be helpful, especially for Canadian companies, or American companies that deal with Canadian workers. This is because labor laws in Canada differ than those in the United States, and it is important to stay in compliance with these laws. This might include overtime pay for exempt employees, for example. Some companies might want to move forward with what they consider to be strong workers, but are concerned about them being from a different country, and not being able to stay in compliance with the laws. Through an outsourced HR company, this eliminates a lot of the worry and issues they may be experiencing.
Outsourcing Payroll Means the Hiring Process Can Move Faster
When companies that deal with payroll in Canada deal with the hiring and onboarding of employees, it can mean the hiring process moves faster. This is helpful in getting employees hired on, and allowing them to start work quicker, without having to go back and forth between reviewing and approving identification documents. Since the company that is getting the outsourced work is not being taken away from other projects, it does not have a negative effect on company productivity.
When choosing a company to process payroll in Canada, there are many benefits. Besides handling employee payroll deductions, some companies will also offer HR assistance, which can make hiring go quickly. It is also useful for dealing with foreign workers. Finally, having an outsourced company means that the business can focus on work, and leave the company payroll services to someone else. This can take off a lot of stress for small business owners who want to focus on their work.