Not happy with your payroll provider? Maybe it’s time to change! Before you do, make sure you are thoroughly prepared in order to make the transition as smooth as possible.
Why are you leaving?
First, examine why you’re considering a switch in the first place. List the reasons you don’t like your current provider to help you determine the questions you need to ask new payroll providers you are considering.
For example: Is your current provider inaccurate? Inattentive? Difficult to contact?
You may also want to ask questions, such as:
- What is their experience? How many companies have they served and how long have they been in business?
- What kind of client service do they offer? Will you get a dedicated specialist or just a toll-free technical support number?
- What’s their onboarding process? How much time is needed to get your payroll operational?
- Is it a self-service system that your employees and management team can use as well as your payroll staff, or is the heavy lifting performed by the service company?
- Can they help you keep up with compliance issues?
- Can they grow as you do?
- What kind of reports do they offer?
When’s the best time to switch?
Ultimately the best time to switch is the beginning of the year; this makes the transition as clean and smooth as possible. If you need to switch before that, ask your new payroll provider for advice. Payroll can be started at different times of the year; just certain considerations must be taken into account first.
What information do you need?
If you’re currently using a payroll provider, you probably know already what you’ll need to provide.
Though not a complete list (talk to your new provider for that), the preliminaries are:
- Your employees’ names, addresses and social insurance numbers
- Employees’ bank account information (for direct deposit)
- Your CRA Payroll Account number
- Voided check for your payroll
What kind of service will you need?
Like all service companies, payroll providers will range in price. You need to determine if the cost is worth the services provided.
Some providers will be less expensive, but will also offer fewer services. That’s fine if you are a DIY-er with the staff and/or time to perform more of the administrative work on your end. If you’d rather spend less time on payroll administration and more on your core business, you may want to find a company with more personal services.
If you’re looking for a payroll provider who will help you ensure your payroll is complete, accurate and on time, while also providing unparalleled customer support, check out PEO Canada today.
Jeffrey Reynolds / Business Development Manager / PEO Canada