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- Title
Payroll Outsourcing: A New Paradigm.
- Authors
Thomas, Princy; Thomas, P. K.
- Abstract
Outsourcing has become a practice in companies that strive to streamline complicated business processes and choose to focus on key business objectives. Recently, more companies have jumped on to the payroll outsourcing bandwagon to reduce costs and, in turn, enhance their profitability. It is an activity that involves contracting with a business service to handle all functions related to payroll and can manage the process without the need to maintain a large payroll department. This paper seeks to conceptualize theory and practice by incorporating various advantages and issues associated with the payroll outsourcing process and provide an insight into the scope of payroll outsourcing. The study also suggests a few qualities needed for a new payroll vendor to enter into the payroll outsourcing field for better survival.
- Subjects
CONTRACTING out; PAYROLL services; PAYROLLS; PROFITABILITY; DEPARTMENTS
- Publication
IUP Journal of Business Strategy, 2011, Vol 8, Issue 4, p46
- ISSN
0972-9259
- Publication type
Article