A definite sense of hustle and bustle arrives with the fall and winter holidays. Most holiday shopping trend reports predict an increase in consumer spending. According to Big Four accounting firm Deloitte, online retail sales alone will grow between 25 and 35 percent between November 2020 and January 2021.
What does that mean for your small– or mid-sized business? As your customers search for that perfect holiday gift, you have a tremendous opportunity to tempt those seasonal spenders with your products and services. However, it may require a significant amount of your time and attention to ensure your business cinches the sale and stands out from the competition.
That leaves you juggling a hefty to-do list for the holidays. Whether you run a software company or a local clothing boutique, you will need to handle inventory and supply chain challenges, holiday labor deployment and balance sheets that need to reconcile. Meanwhile, workers compensation, employee benefits administration and payroll processing tasks continue to pile up.
No matter your industry, you bear the responsibility for completing dreaded year-end taxes with a fast-approaching deadline. That makes this the absolute worst time to start working with a new vendor to get a little relief on the business front… Right?
Wrong! With your time limited and your stress level high, you cannot run an organization singlehandedly. Training temporary employees during the busiest months of the year isn’t usually feasible or profitable. So what can you do to safeguard your time and ease some of the stress that threatens to overwhelm many business owners around the holidays?
There’s an easy answer: Partner with a PEO, or professional employer organization, like Integrity Employee Leasing. As a PEO, Integrity Employee Leasing offers a cost-effective approach to management and administration, taking on the responsibilities and risk associated with complex tasks. And in the ever-evolving world of business tax law, a little help can go a long way.
Consider how complicated year-end tax preparation may become for your business. Many organizations employ a mix of part-time employees or independent contractors, along with traditional full-time positions. Exempt and non-exempt employees may work side-by-side at different pay scales. Also, each classification is typically dictated by diverse rules and regulations. It can feel staggering when you’re just getting started!
How long does it take you to process payroll taxes? Could you repurpose that time to generate new leads for your business, improve your general operations or innovate better products for the coming year? According to the Electronic Transactions Association, most small business owners (SBOs) value their time around $170 per hour. When you compare that to the cost of outsourcing this work to a PEO, hiring a third-party company like Integrity Employee Leasing is a worthwhile consideration and may even save you money in addition to hassle.
There’s never been a better time to make a change. When you partner with us, you gain the advantage of a full-time payroll team without the labor hours or cost of keeping employees in-house. You can rest assured that your company’s tax reports and filings will be accurate and timely, because each employee is extensively trained and knowledgeable. Also, you won’t have to keep up with ever-changing regulations, because we do! Our highly capable staff will work hard to make sure your taxes are done right the first time.
Most importantly, getting up to speed with Integrity Employee Leasing as a new PEO won’t require much onboarding time. Our company is already outfitted with an online exchange system, secure processes and a highly trained team of experts ready to tackle whatever year-end tax challenges you are facing in 2020.
Give yourself the gift of time and ease your workload this holiday season. Schedule a complimentary appointment with Integrity today to receive a free comparison on your administrative liabilities. We will review your current payroll, workers’ compensation, human resources and benefits solution to see if we can make a difference to your bottom line and peace of mind.
If we are the right fit for you, enjoy three free months of administrative fees as our gift to you. We want to make the end of 2020 just a little bit easier for you than the beginning.