4 criteria for choosing a reputable payroll service

Payroll service is the optimal and effective solution chosen by many businesses, but hiring a reputable service provider is challenging. Here, Farovietnam will share 4 criteria for businesses to choose a reputable payroll service provider.

What is payroll service?

Payroll service is an outsourcing service in which an enterprise uses resources and technology provided by another unit to solve problems related to payroll, compulsory insurance payment procedures and income tax for employees.

Currently, the trend of outsourcing payroll services is becoming more and more popular in Vietnam with the advantages of not only efficiency but also confidentiality which can be seen as a comprehensive solution for businesses to complete all procedures related to tax and insurance of employees.

In addition, the payroll service also meets the needs of newly established or small-scale businesses which are without specialists in charge of payroll. With companies with a large scale up to thousands of workers, it can use this service to ensure no errors.

4 criteria to choose a reputable payroll service provider

To approach a reputable and quality payroll service provider, businesses should be based on the following 4 criteria:

Modern payroll software:

The payroll process, if not standardized with the technology platform, can easily cause many errors. Especially for companies with a large number of employees which is up to thousands of people, the error in payroll can negatively impact on the business image and the employee morale. That's why, when deciding to cooperate with a payroll agency, businesses should evaluate a modern technology platform.

Service pack:

A reputable and quality payroll service will provide businesses a total solution related to salary issues, which can save maximum time and resources. Normally, payroll service providers take responsibility for HR information management, welfare regimes, salary and benefit packages and leaving. In addition, this service is also based on timekeeping results and solves problems related to insurance and personal income tax for employees.

Qualified staff:

Another criterion for businesses when considering a reputable payroll service provider is the quality of staff which requires highly qualified consultants with well qualification and hands-on experience. In particular, the service provider needs to to support businesses at all times during the cooperation process to guarantee save time and uninterrupted work.

Transparency and confidentiality:

Last but not least, the final criterion which plays an essential role in the quality of the payroll service is transparency throughout the payroll process approved by both parties in accordance with the signed contract. In addition, all information about the salary and bonus regime must be kept confidential owing to the important role of data and effects of the development strategy of the business. If this data is disclosed to the outside, it will cause damage to the business. Therefore, in the service contract signed, there must be appropriate compensation measures when violations occur.

Above are the criteria for businesses to choose a reputable payroll service provider. If businesses require more about this service, please contact Faro Vietnam for support and advice.

Contact Faro Vietnam

With 16 years of establishment and operation, Faro Vietnam has always been recognized as the leading reputable Payroll outsourcing company in Vietnam. Customers are satisfied with Faro Vietnam not only because of the service quality but also because of the additional support beyond the scope of the service.

Email: service.vn@farorecruitment.com

Tel: + 84 24 3974 3091 / + 84 28 3821 4654