Payroll management refers to the process organization applies to determine the bonuses, welfare structures, and forms of compensation that all employees should receive for the services they provide. In this process, the enterprise makes decisions on the salary level, welfare system, allowance structure, and salary composition of special employee groups. At the same time, as a continuous organizational process, the company must continue to formulate salary plans and recruit plans.
Payroll management is a difficult problem for almost any organization, mainly because the salary management system of an enterprise needs to maintain the balance between fairness, effectiveness, and legality. There are growing numbers of factors to consider when deciding payroll system. In addition to the basic economic affordability of the enterprise and government laws and regulations, it also involves the strategy of the enterprise in different periods, internal talent positioning, external talent market and field competition, and employer’s strategy.
The typical payroll comes into four forms:
There are many reasons that a company choose to outsource their payroll management and even the whole Human Resource department to third-party professional service providers. In general, the following types of companies will prefer to partner with payroll service agencies than building their own in-house team:
When you choose to outsource payroll management, you will find out that you not only save a great amount of money to hire in-house staffs to handle the whole system, but also the valuable time and energy to operate your business and pursue your success. You can also get real-time data and always inspect the progress of:
Hongda can help you handle the daily work of managing your employees and the payroll system on your behalf to save your time and budget.
Doing business with HONGDA is getting a share in our know-how, expertise and dedication. Our determination leaves our customers with peace in mind, as they know our passion and strive for perfection in all that we do.
To ensure that we keep pushing the boundaries of what our market can expect, we relentlessly strive for increased benefits of doing business with HONGDA. To declare our efforts, our daily work is based on 4 tangible, practical promises to our customers - and just as much to ourselves.
We (can) advise you on the best solution for your business model and send you our comprehensive proposal.
After reviewing the proposal, we sign the service contract and receive your payment.
We send you an application form as well as the list of documents we need from your side.
Sit back, relax and let us take care of everything from here on out.
As long as you are partnering with an agency with good reputation, just like Hongda, you don’t need to worry about the safety of the personal information. We have established complete system to store the data of your company and always keep it safe.
You provide the payroll service with necessary employee information, such as hours worked and wage rates. The service provider then calculates salaries, taxes, and deductions, generates paychecks or direct deposits, and files payroll taxes with relevant authorities.
We will contact you as soon as possible. Please make sure that your contact information is correct!