PAYROLL OUTSOURCING SERVICES – LOCAL AND REGIONAL
When It Comes to Taking Care of Your People, BoardRoom Is Prompt and Accurate.
We want to automate your payroll management so that you can streamline your HR activities, enhance productivity, and manage your human capital effectively in Hong Kong. At the end of the day, our dedicated team is ready to take care of your people by providing the opportunity to outsource with our comprehensive payroll services and solutions – so you can focus on taking your business to the next level.
01 Payroll Management Services (Hong Kong)
- Computing gross to net salary, MPF or ORSO contributions
- Computing the statutory entitlement pays under the Employment Amendment Ordinance
- Disbursement of net salary, MPF or ORSO contribution via bank accounts, and issuing payslips (hard or soft copy in confidential form)
- Providing payroll details, variance reports and payroll journals
- Managing and administering employees’ leave applications and expense claims electronically
- Preparing and submitting Employer’s Tax Return Forms.
02 Payroll Management Services (Regional)
- Regional payroll management
- Options for centralised payroll coordination out of BoardRoom Hong Kong or decentralized coordination via BoardRoom’s network of local offices
- Payment and lodgement of local statutory employer’s obligations and filings
- Managing and administering employees’ leave applications and expense claims electronically
03 Our Winning Payroll Solutions are Powered By Ignite, Our All-in-one Cloud-based HRMS Platform
As the leading payroll service provider in Hong Kong, we have decades of experience & use our own unparalleled Ignite platform. Our clients can enjoy:
- Complete HRMS solution with multi-country payroll, leave and claims processing services
- Full statutory compliance with local legislation in 9 countries across Asia
- Automated payroll processing and flexible automated leave solution
- Intuitive mobile app for instant access to payslips, claims and leave application and submission
- Attendance clocking technologies, shift calendar and staff rostering system
- A dedicated account manager giving you one easy point of contact
Why Choose BoardRoom?
Because we help take your business further, faster, at all stages
BoardRoom is Asia-Pacific’s leader in Corporate and Advisory Services including Employee Stock Options Plan Services, Regional Payroll Services, Corporate Secretarial Services, Share Registry Services, Accounting and Taxation Services, Payroll Outsourcing, and Human Resource Outsourcing.
For over 50 years, we have supported companies in navigating through complex operational and regulatory policies and cultural sensibilities. We are well-positioned in Asia-Pacific with offices in Singapore, Australia, China Mainland, China Hong Kong, and Malaysia, as well as an extensive partner network throughout Asia.
BoardRoom is the partner of choice for many Fortune 500 multinational companies, public listed and privately owned enterprises.
Frequently Asked Questions (FAQs)
1. What is included in the scope of payroll services?
Payroll services include calculating the gross net salary, MPF or ORSO contributions statutory entitlement pays, disbursement of salaries, managing payroll records, leave applications, expense claims, tax return forms, and more for each employee.
2. How much do payroll services cost?
Pricing for Payroll services can range between HK$60 to HK$120 per employee, per month. The total cost will of course vary, based on how many employees you have as well as how comprehensive the service is. Other additional costs of services may include one-time implementation fees for the payroll system setup, data migration of employees if you are switching to a new system, or integration costs with other HR systems if you are building a fully-fledge Human Resource Management System (HRMS/HRIS). Engaging a professional payroll management service provider like BoardRoom will guarantee you a seamless integration, setting your business up for future success.
3. What are payroll outsourcing services?
Payroll outsourcing services generally means outsourcing of your company’s core payroll operational functions such as payroll calculation, salary disbursements, leave, claims and time and attendance to a third-party payroll service provider. Outsourcing payroll helps free up your internal HR team and resources from labour intensive and mundane work to focus on more important aspects of HR activities such as talent sourcing or employee engagement. A professional outsourced payroll company can help ensure that your workforce’s salary and financial HR matters are executed in a more accurate, seamless, and efficient way. By outsourcing it to a company like BoardRoom, you can spend more time and resources on business innovation and growth.
4. How does outsourcing payroll work?
Outsourcing payroll starts from hiring a third-party company to organise and control your payroll services. This can be particularly useful for small and large companies that are growing at a rate their internal teams cannot keep up with. Companies like BoardRoom have a team of professionals that can craft personalised payroll management plans for your business, meaning your payroll tasks will be taken care of in a timely and professional manner. This way, you can have peace of mind knowing that your business is fully compliant with all the necessary local employment regulations, and that each of your employees have their payroll matters under control.
There are several different types of payroll services for your business to choose from. A full outsourcing solution will include everything from calculating disbursements to pay runs and reporting. Alternatively, simpler options entail only monthly pay runs with data supplied by the business.
5. Why and when should you outsource your payroll?
Outsourcing your payroll can be an effective solution for startups, MNCs, and everything in between. Smaller businesses who might be unable to hire a dedicated in-house payroll professional will benefit from expert services from a firm like BoardRoom. Larger companies on the other hand, can reduce costs and streamline operations with a single point of contact thus gaining efficiency,. For all companies, outsourcing relieves the headache of payroll work and allows you to focus on core business competencies rather than internal administrative work.
Your company will be able to see the benefits of outsourcing payroll work at any time. Many businesses choose to outsource at a time when they are experiencing or predicting a period of growth. Having an influx of new employees can make payroll services hard to keep up with, and finding the necessary personnel to do so can be difficult in its own right. A company like BoardRoom can easily accommodate for periods of intense growth and keep your payroll tasks compliant and your employees happy.
6. What are the advantages of outsourcing payroll?
Outsourcing payroll offers your company the chance to streamline, optimise, and improve administrative operations. By handing off your payroll duties to a third-party company, you can guarantee a professional standard of service. Furthermore, companies who are growing rapidly will find that outsourcing payroll and other corporate services will allow you to adapt more quickly and stay organised. You’ll also free up a considerable amount of time and resources to scale and innovate your business instead.
7. How secure is outsourcing payroll?
Outsourcing your payroll can be very secure, as long as you pick a reputable company to work with. When evaluating and weighing up different vendors, consider what certificates they may have. A reputable company will have ISO 9001, IOS 27001, and SOC2 certificates.
8. What does a payroll system do?
A payroll system, such as BoardRoom’s Ignite HRMS, offers an all-in-one cloud-based payroll platform for your business to reduce administrative burden and increase productivity. It can help with payroll, personnel, leave, claims, time clock, and attendance. An advanced payroll HRMS system like Ignite also comes with an intuitive mobile application, ensuring that your company stays connected 24/7, with instant access to payslips, claims and leave applications.
9. What is the best software for payroll management?
The ideal payroll software should be capable of automating most payroll operations and increasing productivity. At the same time, the software must also be flexible enough to cater and scale accordingly to the payroll needs of businesses of all sizes. Most importantly, the payroll software needs to be able to meet full statutory compliance for both local and multi-country regulations when processing and calculating pay runs.
At BoardRoom, we use Ignite, which is an all-in-one cloud-based HRMS tool for payroll management. Ignite HRMS has 5 core modules, including payroll, leave, claims, time clock, and attendance. It can handle multi-currency payroll processing and ensures complete compliance with local statutory regulations in 9 countries across Asia.
10. How to choose the right payroll and HR service provider for your business?
When choosing the right payroll and HR service provider for your business, there are several points you should be asking:
- How much experience do they have?
- How much do they charge for their services?
- Do they have good customer support?
- How well do they keep up with regulatory changes?
- What kind of technology do they use?
A competent and experienced payroll provider should be able to meet all these requirements with ease and provide actual case studies of successful implementations.
11. How can a payroll processing company help my business?
A payroll processing company will help you calculate the gross net salary as well as MPF or ORSO contributions before disbursing them to your employees. Depending on the company, they may offer additional services like handling of leave and claims, and filing of employee income tax returns.
12. How can BoardRoom help in payroll services?
At BoardRoom, we have our own advanced payroll software system and a team of specialists ready to help take your business to the next level. We have plenty of regional experience and can handle a wide range of payroll and human resources services for Hong Kong businesses looking to grow. Find out more information regarding our payroll software, or get in touch with us today.