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PAYROLL OUTSOURCING:
A NEW PARADIGM
MOHAMMED ASRAR
12YACMA112
INTRODUCTION
 Outsourcing is the process of shifting tasks and
services which were hitherto performed in-house to
outside...
PAYROLL OUTSOURCING
 Payroll outsourcing is one such process which is
related to employee compensation
 Employee salary ...
WHY PAYROLL NEEDS TO BE OUTSOURCED?
 Payroll outsourcing helps valuable human
resources inside the organization to focus ...
BENEFITS OF OUTSOURCING
 Reduce Cost
 Avoid Problems Due to Attrition
 Increase Efficiency
 Increase Productivity
 Co...
CHALLENGES OF PAYROLL OUTSOURCING
 Accuracy and Real Time Processing
 Keeping Down Technology Acquisition and
Maintenanc...
CONCLUSION
 Payroll outsourcing is one of the innovative practices
in HR which helps to avoid unnecessary risk and
effort...
THANK YOU
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PAYROLL OUTSOURCING: A NEW PARADIGM

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INTRODUCTION

Outsourcing is the process of shifting tasks and services which were hitherto performed in-house to outside vendors (contracted out).
It is a strategic decision to give a task or activity to an independent contractor to improve service and product quality, reduce production cycle times, lower costs, increase focus on core competencies, and in general, enhance organizational effectiveness.

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Transcript of "PAYROLL OUTSOURCING: A NEW PARADIGM"

  1. 1. PAYROLL OUTSOURCING: A NEW PARADIGM MOHAMMED ASRAR 12YACMA112
  2. 2. INTRODUCTION  Outsourcing is the process of shifting tasks and services which were hitherto performed in-house to outside vendors (contracted out).  It is a strategic decision to give a task or activity to an independent contractor to improve service and product quality, reduce production cycle times, lower costs, increase focus on core competencies, and in general, enhance organizational effectiveness.
  3. 3. PAYROLL OUTSOURCING  Payroll outsourcing is one such process which is related to employee compensation  Employee salary is the remuneration received by an employee in return for his/her contribution to the organization.  Payroll outsourcing can be defined as the process of outsourcing to do the routine work of managing salary, its calculation and payment, along with any other related functions of a firm for a specific fee to a third party.
  4. 4. WHY PAYROLL NEEDS TO BE OUTSOURCED?  Payroll outsourcing helps valuable human resources inside the organization to focus more on strategic activities for generating the added value and to free the management’s time for strategic decision making.  Cost reduction.  The other reasons for outsourcing are:  Lack of in-house expertise,  Lack of interest in keeping the process inside the organization, &  To avoid risk
  5. 5. BENEFITS OF OUTSOURCING  Reduce Cost  Avoid Problems Due to Attrition  Increase Efficiency  Increase Productivity  Complies with Government Regulations
  6. 6. CHALLENGES OF PAYROLL OUTSOURCING  Accuracy and Real Time Processing  Keeping Down Technology Acquisition and Maintenance Costs  Integration with Applications  Flexibility of Various Scenarios
  7. 7. CONCLUSION  Payroll outsourcing is one of the innovative practices in HR which helps to avoid unnecessary risk and effort to meet various objectives of the organization.  The propensity to outsource payroll is the highest, resulting in a huge opportunity.  When the size of an organization is small, the accounting firms are the preferred payroll service providers.  Eventually organizations not only outsource payroll, but also consider options of outsourcing other HR transactions to the same service provider.
  8. 8. THANK YOU
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