Who’s paying who to handle their payroll? The top deals of 2004.
HRO Todays annual list of the top enterprise-level and mid-market payroll deals as well as highlights from the APAs current research on the market.
Its payday, and whether you confirm your direct deposit account over the phone or online, wait on a long bank line to cash your check, use an ATM to retrieve your wages, or run into your local check-cashing site, you have been compensated in some fashion by your employer. With paperless payroll, pay cards, and even traditional printed checks, employees have numerous payroll optionsimportant not only to the employee, but also to the employer. Employers want to find new ways to enhance the payroll experience for everyone involved. And outsourcing enables employers to provide employees improved administrative support and the latest in payroll technology.
HRO Today conducted a month-long survey of companies providing payroll outsourcing services, approximately 65 in all, to find out the major payroll deals of the past year. We focused on mid-market and larger deals, and narrowed the results down to 26 contracts.
Listed are the usual suspects, such as ADP. But we also found some interesting activity amongst less well-known providers and across the waters in
With all this activity, we also wanted to know how payroll has changed in the past year and where it is headed, so we contacted the American Payroll Association (APA) (see our interview with Andrew McDevitt, Manager of Government Relations, of the APA on page 19). Each September, the APA celebrates National Payroll Week with the publication of a survey of wage earners. This years results showed many employees have confidence in their employers payroll systems, paperless payroll is a desired function, and 401(k) plans are still extremely popular. The most interesting result was that 63.4 percent of the 22,500 respondents said they would prefer to invest part of their payroll taxes in private investment accounts, as opposed to the current social security plan. We at HRO Today, like all things HR related, are interested in how this will play out under the current administration. Were also interested in what trends and companies will be making a splash in the payroll market in the upcoming year, so stay tuned for more coverage in future issues.