With the challenging time that COVID Pandemic has put in front of the business world right from small business to large enterprises, there is one thing that should not bother a company – it is Payroll Management. Payroll services can be easily outsourced and here are some advantages of hiring managed payroll services.
Why is Payroll Management Difficult when Developing Business in Hong Kong?
The Hong Kong Employment Ordinance Act is not a very complicated affair but it surely has a lot of regulations that are needed to be complied with. Hong Kong Administration takes bold steps to protect the employees’ rights whether they are related to statutory holidays, rest days, paid annual leaves, payday or year-end remuneration. One simple example of that would be setting of year-end remuneration details in the employment contract which if not done initially, results into paying of unnecessary interest on the remuneration amount by the employer. Employers whether SME or Large Enterprise should know of all the regulations as per act before handling payroll management themselves.
Other than the regulations that are to be met, followed and complied with, there is a lot of paperwork and documentation that is needed by the law.
Why Opt for Managed Payroll?
The so-called future of the Payroll Management is now the new normal once the offices and business are back on track post the COVID curbs and after-effects. With Galaxy Group by your side, it would be an easy transition from the normal payroll process to managed payroll process which will reduce cost, reduce error and reduce red tapes. We at Galaxy Group will help you to focus on your core business and our team of expert will take care of your payroll needs and the hassles of knowing and following the regulations of Hong Kong Employment ordinance.
Increase in the efficiency of your business is another advantage of managed payroll. The money spent to hire own payroll management personnel may be similar to managed payroll but the biggest difference that cannot be valued in terms of money is expertise, geographical reach, time & energy.
Other than saving your efforts, managing complicated maths and programs is a tough nut to crack for most of the people. With managed payroll, you will save on the prime time that can be utilized to develop a business. Managed payroll saves your operating cost and increases the flexibility of locating resources as per requirement. Getting the right man for the right job at the right cost is the way to contribute to business efficiency.
Managed payroll also saves on the amount of money that is spent on HR management software, its AMC, and time to time staff training. Payroll Management companies are specialized in this field and have the right software and right people to handle that for a company that is considering to outsource its payroll whether it is an SME or a large business.
If your company is considering outsourcing your payroll, then we have a consultant on the line ready to talk to you. We will guide you through the process on how to reduce your payroll expenditure and handle any non-compliance issues by having a seamless managed payroll system.
Contact us now to receive a free consultation and quote.