If you are responsible for business development, sales, marketing, or client services at a payroll service bureau, you know that meeting the needs of small businesses is what makes your organization successful. Here are five ways paperless onboarding promotes business growth for payroll service bureaus and creates an even more attractive solution for your customers—and boosts your revenue as a result.
#1: Give business owners more of what they need
Many small businesses struggle with frequent turnover and an unnecessarily complex onboarding process. They lose productivity and money every time they have to replace an employee or go through a seasonal hiring surge. If the HR department consists of just one or two people (or a general manager who is expected to do it all), this makes onboarding even more of a burden. Automating onboarding for these clients gives you an edge over competitors who simply process payroll making it one of the ways paperless onboarding promotes business growth for payroll service bureaus.
#2: Attract new businesses that are technically savvy
With half a million new businesses started each month in the U.S., there are a lot of startups out there that are beginning the hiring process for the first time. Assuming they survive the first year or two, they quickly learn that managing new hire paperwork and payroll is complex. Many of these modern business owners are looking for a blend of technology and outsourcing to make running a business easier. Being the one-stop-shop for these new companies primes your own organization for growth.
#3: Automate more of your own processes for better ROI
Is getting paperwork from business owners often a bottleneck in terms of setting up new hires in your payroll processing system? This problem drives down your own organization’s productivity and reduces client satisfaction. When onboarding is automated and paperless on the business owner’s end, there is no delay in receiving new hire information—and manual data management on your end can be eliminated. New clients can be set up in the onboarding system in minutes, making this transition attractive for everyone involved and one of the ways paperless onboarding promotes business growth for payroll service bureaus.
#4: Increase retention of existing clients
You know that other payroll service bureaus are circling your clients, trying to lure them away with promises of lower fees. It’s a lot like the insurance industry—there’s always some company out there encouraging customers to get a free rate quote. But if business owners are already enjoying the benefits of the paperless onboarding along with WOTC processing, ACA, and other specialized services, there’s little incentive for them to leave you. They certainly won’t want to go back to the days of pen and paper for new hire processing!
#5: Market your services more effectively
Obviously, payroll processing is a highly specialized service. It doesn’t make sense to offer an onboarding solution if this means learning a new specialty and building a software solution. But it is simple to take a pre-engineered, highly customizable, white labeled solution and add it to your process. Let our team at Efficient Forms integrate our system with your existing payroll solution to provide a seamless service for your clients. We provide all the training, and even help you learn how to market this new service to improve your company’s revenue stream. Contact us today to learn more.