Regardless of how many franchises an owner has or how many years of experience in the industry, franchise owners know their survival in the market depends on running operations efficiently, while also complying with federal and state law, especially with payroll and HR information management. For any franchise owner, back-office functions like processing payroll and tracking HR information for compliance can take away valuable time from core business functions, possibly having a negative impact on the income of the franchise.
With the risk of penalties and fees associated with a franchise not following state and federal regulations, many owners outsource their payroll and HR information management responsibilities. In order to make an informed decision, franchise owners should evaluate their business needs and compare those needs with payroll service providers that also offer tools for HR information management.
Choosing the Right Payroll Service Provider for Your Franchise
While processing payroll is a necessary task businesses must execute, franchise owners usually want to reduce the cost of managing labor, the administrative burdens and the risk of being out of compliance with employment regulations and tax laws. When looking to outsource, franchise owners should look for a payroll service provider that offers an easy set up for new employees and integration of payroll with the POS system. Also, they should look for one that can provide real-time access at multiple locations as well as tools for HR information management.
Franchises Save More with Integrated Payroll and HRIS
Along with payroll, HR information management is also necessary for franchise owners in order to remain in compliance with state and federal employment laws, avoiding penalties and fees. Franchise owners can reduce costs and administrative burdens even more by consolidating their payroll and HR systems into one application. Franchise owners should look for one that provides data storage and tracking for FMLA, OSHA, Workers’ Comp, EEO and disciplinary actions, along with other information important to the franchise.
In order to find the right franchise payroll services and HR software, franchise owners should research the following:
- Do they provide quarterly and annual employee tax filings?
- How easy is it to setup new franchise locations?
- What kind of training do they provide?
- Are multiple users allowed to access the system from multiple locations?
- What pricing and payment options do they have?
- Do they send in state-required employee data for your new hires?
- Do they help you comply with minimum wage requirements?
- What kind of reporting does their system offer and how does it fit your franchise?
- Do they have reputable references you can call?
Outsourcing payroll and HRIS can help franchises lower their labor costs and minimize risk. Finding the right payroll, tax filing and HR information management solution can save franchise owners thousands of dollars per year. The key is finding the right one to fit the needs of the franchise for the right price.
