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The True Costs of Internal Payroll

The True Costs of Internal PayrollAre you aware of how much your company is truthfully spending on its internal payroll system? Most companies are not, and they severely underestimate how much coin the process is eating up. That’s because many of the costs associated with processing all facets of payroll are not highly visible. Often, aspects of internal payroll fall under different sectors (IT, HR) and hence aren’t detected as part of the same cost bracket. Surveys by PwC have shown that on average, it costs around $1400 per employee per year for large companies, and $2000 per employee for medium companies to operate payroll internally. The Australian Payroll Association (APA) puts that figure at $4700 for small companies. It’s probable that your business isn’t even considering many of the menial ways in which these costs incur. In this E-Book, we will break down exactly where these costs are accumulating from, as well as examine strategies to reduce that cost for your company.

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