Payrolling Options That Control Your Risk Of Hiring During An Uncertain Time
Things are changing lately, and changing rapidly. We have moved from living in the COVID-19 pandemic to moving to a world that is post-pandemic.
Businesses are being allowed to slowly reopen all across the country with the understanding that there could be a moment in which we move backwards again.
While many manufacturing companies have remained open (since they are deemed essential to the supply chain), many more are now being able to open their doors with the right protocols in place.
There are so many unknowns as to how “normal” operations are going to look as businesses get back into the swing . Between social distancing on the manufacturing floor, to securing the right protective gear for employees, to the right ways to sanitize spaces – there is so much that is changing and being learned as we go.
Unknowns in the workplace are scary, but manufacturers need to be in a position to keep producing their goods as part of the supply chain. Part of keeping the supply chain moving is having the staff to do so. Hiring and staffing is risky, especially during uncertain times. In times like these, companies are hesitant to pull the trigger to hire or even bring back laid off or furloughed employees because they are uncertain if business levels will sustain.
GTR offers a payrolling service which allows our clients the flexibility and agility needed to manage staffing levels during uncertain times. Let us help you manage your risk of hiring and make processing payroll for your employees quick and painless.
What is payrolling as a service?
Payrolling as a service is best used when you’ve identified a potential employee for an opportunity but are unsure of the sustainability of the project you’re working on or want to have a probationary time period to evaluate the employee. It is also even used to bring back previously laid off or furloughed employees if the work they are coming back for is temporary. It is essentially putting them on someone else’s payroll. This is a great way to hire and utilize as-needed workers who have the right skills to hit the ground running on a project.
Payrolling is for the as-needed and contingent workforce; you payroll temporary employees, seasonal employees, and project-based employees, but generally not your permanent workforce. So it gives flexibility and control to an uncertain time.
So what are some of the main advantages of payrolling as a service?
Flexibility of managing staff levels.
Staffing levels are going to be up and down as the country moves to re-open again. This means more uncertainty in an already uncertain daily landscape. Having a company like GTR cover payrolling for you can eliminate hassles, like the ones that come along with hiring short-term specialized workers for your business.
Using a payrolling service also allows you to utilize your HR department in a different way. If you find yourself with a leaner HR department, utilizing their time for things like onboarding and offboarding employees is likely not the best use of their resources (and time) if the jobs are not sustainable or permanent. Adding this kind of work to a lean HR department takes their focus away from tasks that could be more impactful to engagement, retention and employee relations.
Avoid the risk of layoffs, payroll taxes and workers compensation.
Using a reputable independent staffing agency that offers payroling as a service means that the company serves as the employer of record.
This really means that the employee and employer liabilities belong to the payrolling company, not the business.
The payrolling company is responsible for payroll taxes and for paying all the employer taxes such as Workers’ Compensation and more. As the employer of record for on-demand and contingent employees, the payrolling company also provides benefits to its employees such as Health Insurance, Dental Insurance, 401K plans, Flexible Spending Accounts and other benefits. The payrolling company also provides general liability insurances.
So it means that the business gets the employee and their skills to fill an open position, but the business does not carry the liability. It’s another advantage to payrolling in this uncertain and unprecedented time.
Ability to convert candidates at any time with no additional fees.
Typically, payrolling an employee through a reputable staffing agency who offers payrolling as a service means there is not a hiring term or time frame before you can convert the employee to your payroll.
It’s almost like it’s the best case scenario for hiring in an uncertain time – you get the skilled employee while your staffing partner payrolls the employee. If you decide that this employee is a great asset and would be even more so if they were to be an actual employee of your business, you can covert that employee at any time and with no fees.
A payrolled employee can be rolled over to your payroll at any point you deem necessary based on your business levels. Flexibility at it’s finest!
A service like this allows for businesses to remain agile and move as quickly as they need to. In a time like this post-pandemic period, it’s important to be able to staff in a way that supports your production levels at any given time.
On-boarding and pre-hire are covered.
Projects are time sensitive, and spending the resources to on-board an employee takes both time and money – but payrolling allows the business to not have to take the financial burden and resource burden it would by hiring a new employee into their business. The payroll provider handles these burdens and creates a scenario in which the employee is ready to hit the ground running right from the start.
Work with an expert.
Whether you’re in need of personnel for a short term project, to fill in for leave or a new opportunity, payrolling is a great option while you evaluate sustainability in these uncertain times.
Using payrolling as a service means controlling your risk of hiring during a time with enough risks. GTR is here and ready to help you get set up with payrolling as a service so you can continue to staff at the right levels, for the right projects, and continue manufacturing at full capacity. Contact us today to learn more.