Looking into payroll companies in Massachusetts? Then you have quite a list to choose from—in fact, we’ve identified several listed below. But is a payroll company really all the help you need?
Keep reading to find out whether your ideal solution is purely payroll, or if you might benefit more from a slightly different option (that still includes payroll services): a PEO.
Top Payroll Companies in Massachusetts: A Quick Search
Google yields a mere 31,500,000 results for my quick search, “payroll companies ma”; you have a ton of options in Boston and throughout the Commonwealth if you’re looking for this service. Some of the top results are:
- East Coast Payroll
- Granite Payroll
- Complete Payroll Solutions
- On Time Payroll
- American Payroll Services
- SGS Tax
Whereas once payroll companies simply submitted payroll information and produced a check or direct deposit, today, payroll services in Massachusetts also offer other administrative services, like HR support or benefits administration. As a result, most payroll companies now fall more under the administrative services organization (ASO) model of service.
An ASO is a service businesses use to outsource administrative functions, including employee benefits, payroll, HR management, workers compensation, and safety programs. With an ASO, your small business contracts with one partner that manages the vendors your business selects.An ASO is a service businesses use to outsource administrative functions, including employee benefits, payroll, HR management, workers compensation, and safety programs. Click To Tweet
But is an ASO payroll service what you really need?
You may be looking at options for payroll services, but it’s likely a payroll service isn’t what your business actually needs in order to help you with your human resources administration burden. Below we outline what a payroll company will do for you vs. what you’ll get with a different (and more holistic) option, the PEO.
What is a PEO?
A professional employer organization (PEO) allows your business to outsource many of its human resource functions, share employment liability, and, oftentimes, gain economies of scale to bring an improved benefits package to employees. A PEO is an extension of your business and engages with your management team to address complex employee-related matters.
Download this free guide to learn how a PEO can lighten your load when it comes to administrative tasks.
In addition to the payroll processing and payroll tax compliance services you’re looking for, PEO services include administration of the following:
- Employer compliance
- Workplace policies; equal opportunity employment, leaves of absence, accruals, etc.
- Health and welfare benefits and COBRA
- Workers’ compensation insurance, reporting, and claims
PEO vs. Payroll Service: A Comparison
- PEOs partner with your business to perform HR processes, assume associated responsibilities, and provide ready expertise in payroll—and every other aspect of human resources management. Payroll companies are not in a partnership with you; they are a third-party vendor who is not vested in the success of your company.
- In a PEO partnership, your PEO selects the vendors you work with. Because they are knowledgeable about the market, they can offer best-in-class options to choose from that best fit your company’s needs. And health care plans, for example, that may not be accessible to you on your own are accessible through a PEO, who aggregates all of the small businesses it works with into one group. Payroll service benefits are based at the employer level, which means there is no opportunity for volume pricing, or access to Fortune 500 benefit plans.
- Some payroll companies say they offer HR services, but in actuality, these services are often on an extremely limited scale. Our PEO is staffed by tenured HR professionals with experience in every aspect of HR, including payroll, compliance, benefit plans and administration, employee engagement, and performance management.
- Payroll service companies tend to have higher employee turnover; people get promoted or leave, and companies have to “start over” with a new contact, re-learn expectations, etc. At Genesis, we are proud of our extremely high retention—both for our client base (97%) and our staff has an average tenure of 13 years. As a small business, we know continuity of service and long-lasting relationships are crucial to doing business successfully.
PEO or payroll: How to decide
- First, identify and list the activities you’re struggling with that you would like to offload to a partner. Is it really just payroll you need help with? Use that list to see how the solutions you’re considering line up with your needs. Consider whether you want to deal with all these tasks—or hand them off to an experienced partner.
- Look at the credentials of the partner you’re considering. Is the organization certified by a third party, like the IRS or ESAC? (Genesis HR Solutions is proud to be both a Certified PEO and accredited by ESAC.)
- What is the experience of the team who would be handling your account? Look at their turnover rates, whether they’re a relationship-focused company, and how many years of experience they have in dealing with your areas of need.
- Understand how your potential partners select and manage their insurance vendors.
Genesis HR Solutions: the better way to do payroll—and so much more
A payroll company can’t compete with the high level of service provided by Genesis. Let’s schedule a free discovery call now to talk about how Genesis HR Solutions can help relieve your organization of the burdens of payroll, HR, benefits administration, and more.