Why do companies in general seek to outsource their payroll? Would this be a solution for all companies or only for some from a specific size?  Let us see the benefits of this outsourcing option.

First, let us clarify that payroll outsourcing is different from employee outsourcing in that the employee remains on the payroll of the client company and the client company remains the legal employer of the employee. However, the client company seeks an external entity to take care of all salary tax and social security regular filings.

So what are the advantages? Here is the list of some reasons that lead to payroll outsourcing.

1- less costs: whatever is the size of your company, you will need to have at least one savvy employee dedicated to to take care of salary calculations as per local labor laws, withholding taxes, social security payments, social security filings, etc. By outsourcing this service you will have to employ less people in your financial department, and pay less to have this service provided to you by leading experts.

2- Seamless coordination with your HR Department: our team will operate as part of your company, and we will arrange for an ongoing support at all levels.

3- Whole preparation of accrual reports: you will have to leave this on us as we have the most sophisticated software solutions for all accruals.

4- Comprehensive calculations of End of Service Settlements: this is a daily routine work, and we have it always confirmed by the local competent authorities.

5- Salary processing: we will process salaries, bonuses, and pay any expenses on your behalf. No matter the amount.

6- Salary payments through multi-currencies: needless to explain more, especially in a country like Lebanon.

7- Maintenance of payroll information related to employees: not only this, but we also provide you with statistics and much more. In other terms, we are fun of big data and will catch any opportunity to for starting simulations…

8- Salary transfers to overseas locations: we will provide you with any overseas salary payments by using our local and offshore accounts.

9- Keeping you up-to-date: we shall keep you always abreast of any new circulars or ministerial decrees in order to make all work and converge to your interests, so you do not miss a filing deadline or a tax exemption!

10-Legal advisory services: our team includes lawyers and accountants, so we will make sure to assist you on the spot, and without any additional charges, with any legal matter that you may face, so this is just another way for your company to save money!

11- Insurance coverage: if things go south, do not worry. Sometimes it is no one’s fault. We have insured all our work and our coverage is always equal to the amount of the payroll we are processing. So this means that although we always operate based on your company’s pre-approval for payments and filings, we will nevertheless guarantee our work and insure our services. Do not forget, after all, our mission is to take out this headache from you and to provide you with peace of mind….and we meant what we say.

Well, we are very sure that there are many more benefits for payroll outsourcing, and the most obvious of which we have intentionally omitted. If you need more details or more specifics related to payroll outsourcing, please get in touch! We will be more than happy to discuss.

 

 

Newton Workforce is a Lebanese leading company providing manpower, payroll outsourcing and employee outsourcing services in Lebanon. With decades of field experience, we are confident that we will be your right local partner. If you need to read more about our company, please visit our main page ABOUT US – Newton Workforce or simply email us at info@newtonworkforce.com