Outsourced payroll has various benefits and provides significant savings in both time and money. Advancing salaries, with all additional employee costs, takes a big bite out of the budget. Money you would rather invest in something else. These costs increase significantly when more people are hired. You will have to deal with more administration, more rules concerning sickness, holiday allowances and premiums. You may have to purchase software and the know-how to operate it. In short, the costs run high rapidly.
TCP Solutions has the liquid assets to advance these costs, we will fulfil the position of the employer. You will not have to purchase software, which also makes a big difference.
Compliance is the cornerstone of TCP’s business, ensuring that the solutions we provide offer the type of protection from liability that our clients expect. The legislation is rarely static and is often being changed or redefined and so TCP always aims to work closely with our clients to keep them abreast of changes that may affect them or their workforce in general.
While employing the contractors, TCP uses our local in-country expertise to act as a compliance safety guard for our clients; reducing the risks by making sure that in each country, all employment regulations are followed correctly.
When a client does not have a registered entity in the country where they would like to deploy a candidate, or perhaps where they would simply rather outsource this to a payroll specialist, TCP’s locally registered companies can act as the employer of record and manage the payroll according to local legislation, allowing TCP to manage the risks involved and indemnify our clients..
Payroll Services for Recruitment Agencies
If as a recruitment agency you are placing temporary/contract workers then you are no doubt aware of the risks involved. TCP can help manage this by offering compliant solutions to the problems that can arise with any placement. By using our local knowledge we can ensure you, your client and the candidate are all protected. Another common problem when placing contract workers is the speed in which they are paid, nobody wants to wait very long for their wages. Should we be employing your candidate, TCP has the ability to fund the payroll whereby we have them paid in full within 5 working days of receipt of their approved timesheet – we do not need to wait for the funds from the agency first. Our expertise means that while you focus on finding the best candidates/clients, TCP will take care of payroll administration, payments and general back-office compliance – indemnifying you as our client in the process.
A key point with both clients, and candidates, is often the speed at which the candidate receives their money. TCP offer Fast Pay (pre-financing) so we can ensure all the contractors placed with TCP Solutions are paid quickly and efficiently each month or week. With this service applied, TCP aim to pay the contractor within 5 working days of receipt of their approved timesheet.