With the trend continued trend in 2021, companies big and small in Thailand are continually looking for ways to optimize their Human Resources processes and people and transform their Human Resources into more strategic as opposed to administrative burdened divisions in companies of all sizes, we have outlines what Smart Search sees from its clients in Thailand as the most common reasons why companies continued to look to outsource their payroll functions in Thailand.
While larges businesses can afford to maintain big payroll departments either within their HR Department or Financial Departments, small and medium (SME’s) however, an in-house payroll department is a heavy costs and time burden. If your analysis the hours your Human Resources or Finance Departments spend on payroll-related activities, plus payroll software costs, training costs, printing and distributing salary slips, creating tax documents etc., you could be surprised by the cost differences when you compared to using a payroll service provider like Smart Search Recruitment can offer.
The payroll function can consume a large proportion of your staff resources, especially if the staff in charge of the payroll are not trained specifically to deal with it or have the payroll function as a smaller part of their overall responsibilities. The benefits of outsourcing the payroll in Thailand include freeing up these resources allowing your staff to concentrate on more essential tasks and transform them into becoming real strategic contributors in your companies. You may even be able to reduce your employee headcounts. Outsourced functions also give you better scope for expansion of your company with scalable services suited to your business.
It can often be expensive to employ staff with the necessary training to operate a payroll system., and with the additional of the “employee friendly” labor laws in Thailand this is a growing concern for many businesses in Thailand. For smaller and medium sized companies where the payroll role is not enough to warrant a full-time employee, you may have to use your current staff to train in payroll as an additional responsibility to their core role. Your payroll staff will also need to keep up to date with the latest tax procedures and legislation and in Thailand these regulations and changes happen frequently and keeping up to date in a time-consuming matter for all Payroll related employees in Thailand.
Certain types of employment can lead to complicated payroll structures or scenarios. It pays to have a people or companies like Smart Search Recruitment at your disposal which is something you are unlikely to have with a small in-house payroll department. A good payroll service provider in Thailand will know all the ins and outs of payroll-related tax laws and latest Thai government regulations concerning payroll and employment maters in Thailand.
As payroll service providers are specialists, they can process even the most complex payrolls at a great speed, providing a quick turnaround time on your payroll, and even in minutes a good payroll services company like Smart Search Recruitment can answer payroll related questions because they are devoted to doing this as a full-time process.
Payroll mistakes can be painful, upsetting and stressful. A good payroll service provider is far less likely to make a serious error than your in-house staff, as you are paying them for their expertise, knowledge and finely tuned checking procedures they have in place. There is nothing worse than an employee in Thailand raising questions about errors in their salary payments, and Thai Law penalizes companies that pay their staff incorrectly in Thailand.
In-house payroll activities function as reliably as the people doing the work. With a payroll service like that of Smart Search Recruitment, output, speed and quality won’t vary in accordance with holidays, staff leaves or sick related leaves in your company. There is always a risk that you may lose one of the key members of staff that deal with your payroll and all their knowledge walks away with them as well as the amount of personal data they know of their employees. If this happens you could find it extremely difficult to replace them, causing a logistical nightmare to come the scheduled salary payment day. You also won’t have to spend time training new staff or helping them to understand your business’s payroll system.
Many payroll providers in Thailand can offer small and medium sized business total payroll packages in which all your payroll requirements can be met and in compliance with the Thai Laws. With outsourced solutions, these packages are often flexible to meet your specific business model, so you don’t end up paying for something that includes services you don’t need or misses key features that you do need.
Do you have the time and energy to closely supervise your business’s payroll department for time and rate abuses and other shady activities? Most payroll service companies in Thailand have technologies that can spot and alert clients to various types of payroll fraud, such as payment manipulation and ‘ghost workers” that can cost companies a great deal in related to salary and employment costs in Thailand.
There’s a lot to be said for the peace of mind that outsourcing payroll services in Thailand can bring to a business owner or manager or even an HR Manager. No headaches, no hassles, no stress, no worries: You’re left to focus on running your business knowing your payroll obligations are dealt with correctly, efficiently and lawfully.
The trend to outsource time related functions of a company in Thailand for the past 10 years, and companies in Asia are quickly transforming into their counterparts in more advanced countries, and a company like Smart Search Recruitment has been partnering with companies in Thailand as one of the most reliable and advanced payroll providers in Thailand.
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.