Once you’ve made the decision to use a payroll outsource provider in Thailand to take advantage of the benefits like greater accuracy and efficiencies and time savings, it’s important to make sure you choose the right Payroll Partner. Since every payroll outsourcing firm is unique and offers different services, you’ll want to narrow down what’s most important to your business and then compare your options to identify the best fit for your company in Thailand.
In this article, we’ll help you in your evaluation by covering the top considerations you should take into account when selecting a payroll service. Awe have outlined in is article 10 of the most important things for any company to think of when selection a potential payroll company in Thailand like Smart Search Recruitment.
While no one wants to think of their how important it is to trust a potential payroll partner with often large amounts of funds to pay employees and personal data of your organization it’s a very important thing to take into consideration. in the extremely unlikely event that a payroll company goes out of business, it can happen. To help you evaluate the stability of a vendor, you’ll want to find out how long the company has been in business. A proven provider with a tried and tested operating history can help give you peace of mind as you transfer your payroll to a third party. In addition, when you’re putting together your list of questions to ask payroll providers, ask how long a potential partner bas been in business and what risk insurances that have in place
To make sure your payroll partner in Thailand delivers on what it promises, it’s a good idea to look for a payroll outsource provider with a good reputation like Smart Search Recruitment which has been providing such services to companies big & small for well over 12 years. As you come up with a list of potential partners, look for reliable, objective reviews and business organizations like the various Chamber of Commerce in Thailand.
When you start searching for a payroll vendor, the names of some big, global firms are sure to come up. While you may feel more comfortable working with a large company, you may worry the relationship could be too impersonal and decide one of the biggest payrolls outsource providers is not best for your business. Instead, you may want to look for a local vendor that offers more personalized support in case you need it. Be sure to target your search appropriately to avoid having too many options to consider. Having a local payroll partner in Thailand like Smart Search Recruitment will ensure you’re in compliance with the Thai employment regulations.
If you have more than just basic payroll needs, you’ll want to investigate what other features the payroll outsourcing firm offers to meet your requirements now and as you grow. For example, you may want a self-service HRIS System which you can access at will. Or, depending on your situation, you may want a vendor that also has expertise to aid in compliance or provides HR assistance or health insurances or a Provident Fund in Thailand.
For many employers, the decision over how to choose a payroll provider often comes down to cost. While outsourced payroll pricing depends on a number of factors, you can generally expect to pay about 1,000 THB/Month Per Employee. However, each vendor will have slightly different fees and include different services in their base price. For example, they may or may not include tax filing or other additional services. To make accurate comparisons between companies, you’ll want to understand exactly the total price you’ll be paying. Be sure to get a firm quote when you’re investigating your options.
No matter which payroll provider you choose, getting up and running should be pretty quick. In fact, for a simple payroll, it should take less than a week. Generally, all that’s required is that you sign some documents, provide banking information and details on how your payroll partner pays employee’s taxes or annual income returns.
Every payroll outsource provider offers customer service, but just how and when they provide it can vary. You’ll want to ask each vendor about their training and support offerings. Support can range from more do-it-yourself (DIY) online resources, like how-to videos and searchable knowledge bases, to live chats or phone support. Even with live service, however, there may be variations between vendors. For example, some vendors offer phone support through a dedicated support person to manage your employees. Think about what you need and find a vendor whose service approach fits your requirements.
If you’re using existing software systems to run your business-like time and attendance or accounting platforms, or even just Excel, you may want to look for a payroll outsource provider whose system integrates seamlessly. That way, you can be confident your data will flow between the systems to optimize your efficiencies. While most payroll solutions today are plug-and-play, system integration shouldn’t be a given. Confirm that the systems will pair and how the vendor will handle the transition to make sure things run smoothly.
Depending on your business’ goals, you may find that you have simpler payroll needs now but will require added support as you grow. If you anticipate future expansion such as having employees in multiple states or wanting to offer health insurance to your workers, you’ll want to look for a payroll outsource provider that has the ability to handle these complexities and scale with you to meet your objectives as your business evolves.
With some headline-making security breaches in recent year, you may worry about placing sensitive employee data in someone else’s hands. While this fear is natural, it’s also important to understand that security incidents are very rare. However, you should talk to all potential vendors about what policies and procedures they have in place to protect your data.
How to Choose the Right Payroll Outsourcing Firm
As you can see, there is a lot to think about when selecting a payroll outsource provider to make sure you have a successful partnership. As a next step, it’s a good idea to narrow your list to two or three potential vendors and compare them in these 10 areas. A good place to start is with our list of the top payroll providers.
Smart Search Recruitment is Bangkok’s leading executive recruitment consultancy. We serve multinational and local companies, sourcing high-caliber candidates and placing them in mid and senior-level roles. For recruitment service inquiries contact us. We are committed to meet our client’s needs by delivering an exceptional level of service. We have insightful HR resources updated everyday. Please keep in touch with us via our social media.