Reasons to outsource your Payroll in Africa
Expat payrolls can be a corporate headache. Understanding Mozambican employment law or managing employee contracts in Gabon can be challenging if you do not have in-country knowledge or an office there. Outsourcing your Africa payroll eliminates some of the administrative headaches that business owners face every month, while increasing the efficiency and productivity of the company at the same time. Expert knowledge is vital to avoid errors and penalties.
Payroll service solutions usually include managing expatriate accounts payables, multi-country tax compliance, accounting, treasury, and information management and reporting. Additional HR services are usually available as an option.
So why should you outsource your payroll?
Save time and money through using expert service providers. No time is wasted through having to research the rules and regulations of each territory. It is definitely more cost effective to outsource especially where there are multiple currencies and countries involved and where there are seasonal fluctuations in staff complement.
Ensure accuracy and compliance to laws of the land in both the home and host countries. Avoid penalties due to non-compliance to procedure which varies extensively from country-to-country.
Make speedy on-time error-free payments to staff into an account of their choice with the correct tax deducted and paid over to the right authorities. Errors in pay cause anger and frustration and take time to rectify.
Increase staff efficiency through greater focus on core business. Managing a complex payroll is time consuming and takes up valuable resources. Outsourcing expat payroll reduces the administrative burden on your own operational staff and limits the need for technical HR training.
Easier budgeting for costs of payroll administration so you know your costs in advance. Many of the costs of running an in-house payroll are not visible, I.T. costs, printing and distributing pay slips, the logistics of bank payments.
Ensured confidentiality and protection of data and employee profiles. A contracted outsourcing company will protect your data based on your needs and instructions as per your contract. The possibility of manipulating the payroll and incidence of fraud is greatly reduced.
Accurate and transparent management reporting can be designed to match exact requirements. Controlling and monitoring of payroll is easier and any irregularities can be spotted early. This audit process is often neglected using in-house payroll services.
Many service providers in this sector provide additional services including design and implementation of remuneration (base pay, bonus, benefits) preparation of employment contracts and industrial relations support.
Going it alone in payroll management is not only time consuming, but expensive and risky.