Every small business owner knows there are a lot of people involved in making your establishment a success. Among those first on your mind should be the person who handles payroll and, if applicable, benefits for your employees.
In an ideal world, you would hire a payroll company, such as Paychex, or an accountant to handle your finances. Sure, you’ll get a bill, but they will oversee the myriad details of payroll and benefits.
But not every business can afford this expense. In many small companies, the owner manages this task. And if your small business is not that small, there’s a good chance you have an office manager – or administrative assistant – who handles payroll.
This person is critical to your operation. Anyone who has access to such private information needs to be highly responsible and trustworthy, because he or she is exposed to many important details regarding your staff.
This is not a position that should be lightly compensated nor viewed as transitory. Consider the following before you appoint an office manager to oversee paychecks and benefits:
- Can this person be trusted to keep private matters private?
- Does this person have the expertise to handle such important documents?
- Has envy or jealousy ever reared its head in the office and has this person been involved (this person is viewing everyone’s paychecks, after all)?
- Have you done a background check on this person for security measures?
Once you have made the decision to hire or appoint someone to oversee your payroll and benefits, consider the person who handles all these details among your closest confidants. They will appreciate the gesture that you’ve made the concerted effort to protect important business information.
We know it’s a tough balancing act, that’s why we’re always behind you. Turn to Biz2Credit for your small business financing needs. Call us at (800) 200-5678, or visit Biz2Credit.