Value of Outsourcing Benefits Administration with ADP TotalSource
If, as the saying goes, time equals money, partnering with ADP TotalSource gives your organization double savings throughout the year! Benefits administration - a necessary task for any employer - can be especially burdensome to small employers, in terms of both time and money.
Your Time
The United States Small Business Administration (SBA) estimates
that the average small business owner spends owner spends
7 to 25% of his or her time handling employee-related paperwork.
When all HR functions are added, the estimate rises to 35%
to 45% of total time. It's not surprising that HR administration
takes so much time when you consider that the number of
U.S. employment laws and policies has increased by 60% since
1980!
The single benefits invoice you receive from ADP TotalSource
each month is designed to be quick and easy to review -
allowing you to spend minutes instead of hours on your benefits
administration. If you employ workers in more than one state,
you know that your single ADP TotalSource benefits invoice
saves you even more time. |
What's Your Time Worth?
Of small to mid-sized employers surveyed:
- 85% spend 10-20% more time complying with employment regulations than they did 10 years ago 1
- Employers spend an average of $120 per document trying to find lost paperwork 2
- Small firms spend 67% more on tax compliance than larger counterparts 3
|
And, when you have a question about your benefits, you have one
person to call. Your HR Business Partner coordinates with the
rest of ADP TotalSource’s benefits specialists to help you
resolve your question.
Your Money
In addition to saving money by saving time, ADP TotalSource helps
your organization get the best benefits for your money –
often at rates unavailable in the individual or small-business
market. IS THIS TRUE? That means your organization can have access
to richer, Fortune 500®-quality benefits at lower costs than
your competitors.
Your Peace of Mind
Did you know that an estimated one-third of small businesses incur
tax errors each year, costing an average of $800? By taking on
the responsibility of your organization’s employment-related
tax payments and compliance, ADP TotalSource also helps you rest
easy.
When it comes to benefits administration, outsourcing allows
your small business to gain the efficiencies of a large organization.
Sources:
- ADP TotalSource; www.adptotalsource.com
- United States Small Business Administration (SBA); www.sba.gov
- "Outsourcing HR Reaps Benefits for Small Business," Jennifer
Schiff, SmallBusinessComputing.com, April 4, 2006.
1 National Association of Professional Employer Organizations
(NAPEO), Report on The May 2007
Survey of Businesses Served by Professional Employer Organizations,
June 1, 2007.
2 PricewaterhouseCoopers;
www.pwc.com
3 United States SBA;
www.sba.gov
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