Running a small business in the Philippines comes with a unique set of challenges, and one of these includes managing the payroll and HR administration. Juggling BIR, SSS, PhilHealth, and PAG-IBIG mandates can consume valuable time, especially with the recent change in PhilHealth and PAG-IBIG contribution rates this 2024.
For many small business owners, addressing admin tasks often feels like a never-ending cycle, and it leaves little room for strategic planning, effective marketing, or recruiting the right team members. The amount of time spent on government requirements can feel overwhelming, especially without an admin assistant or HR team.
Despite these challenges, recognizing the struggle becomes crucial for small business owners. Let’s take a further look at what’s at stake and how to simplify the payroll process.
The Hidden Costs of Admin Overhead
To stay compliant with government requirements, small business owners often underestimate the hidden costs associated with administrative overhead.
In fact, data shows that the average administrator spends up to 50 hours per month addressing government requirements. Put simply, that's 1.25x the normal 40-hour work week or a total of 15 weeks in one year spent on administrative work!
If this teaches us anything, this significant time investment (even with an admin assistant) is a hurdle for businesses looking to improve efficiency and achieve streamlined operations.
Payroll Outsourcing: The Path to Efficiency
One of the most strategic approaches towards reclaiming valuable time and resources for your business lies in directly addressing the intricate web of admin tasks.
This is where payroll outsourcing comes in. But what exactly does this mean?
Payroll outsourcing is a strategic partnership with professionals who specialize in navigating the complexities of compliance and payroll, who are well-versed in current BIR, SSS, PhilHealth, and PAG-IBIG mandates.
It provides a breath of fresh air to small business owners because payroll outsourcing is a commitment to efficiency. It involves partnering with a service that streamlines operations and ensures compliance with government regulations.
A Holistic Solution to Payroll Challenges
Growing a small business may come with challenges, but Payroll and HR administration don’t have to be one of them. Sprout's Payroll Starter is a seamlessly integrated companion that’s designed to help you grow your business.
At Php 5,000/month, Payroll Starter offers a scalable payroll outsourcing service, ensuring compliance with government regulations and overall improvement to your operational workflows.
This comprehensive bundle includes Sprout's Payroll Outsourcing Service, Timekeeping System Subscription, and Government Compliance Services that ensure precise and timely employee payments. Beyond the essentials, Payroll Starter provides support through Payroll Policy Reviews and Audits, Payroll Processing and Training, and Compliance Training covering statutory benefits under SSS, PhilHealth, and PAG-IBIG programs.
Sprout’s user-friendly HR Lite, also included in the bundle, introduces convenient features like time and attendance tracking, digital payslip access, and simplified log-in/out procedures.
Elevate Your Small Business with Payroll Starter
Being a small business owner comes with the responsibility of ensuring efficiency, compliance, and growth in your day-to-day operations. By focusing on enhancing employee experience and freeing up valuable resources, payroll outsourcing can become your ally.
From payroll outsourcing to comprehensive support services, Payroll Starter seamlessly integrates with your needs. Focus on building your business and making a meaningful impact while Sprout handles the rest.
Click here to learn more about how Payroll Starter can empower your small business for success.
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