Common Payroll Issues for Your Temporary Staffing Business
Payroll can be a complex task. At your temporary staffing business, do you struggle with common payroll issues like these?
- Misclassified employees, especially misclassified contractors
- If your employees are misclassified, it can lead to a range of issues, including fines, higher Workers’ Compensation premiums, and an increased risk of workplace accidents and injuries.
- Overtime calculation errors
- In the temporary staffing industry, you might have employers working at many different jobs. This can make it difficult to accurately track overtime. If you lose track of overtime calculations, it can lead to wage and hour violations.
- Late or disorganized payroll processing
- If you fall behind on payroll processing, it affects your ability to pay your employees in a timely and fair fashion. This can greatly raise the risk of low productivity, leads to high employee turnover, and can even put you at risk of legal disputes.
- Missed payroll taxes
- Similarly, you need to stay up-to-date on all payroll tasks involving income tax, Social Security, and Medicare. If you overlook payroll taxes, it can lead to hefty tax penalties.
- Disorganized recordkeeping
- In the temporary staffing industry, you need to keep track of many details, including wages, hours, and employee duties. If your records are disorganized or incomplete, it increases your risk of payroll-related liability issues.
At Work Comp Business Insurance Solutions, we understand the challenges of keeping up with payroll responsibilities. This is why we offer a range of products to help temporary staffing agencies with payroll responsibilities like employee classification, payroll processing, and more! With our full PEO services, you’ll receive assistance on tasks like these, as well as gain access to personalized, comprehensive Workers’ Compensation solutions.
At Work Comp Business Insurance Solutions, we help temporary staffing business owners find the best Workers’ Compensation and payroll solutions.
