Hi, I am planning to start a payroll consultancy, can somebody please share the complete details and the requirements to start this. Thanks, Deepa
From India, Hyderabad
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From India, Hyderabad
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Hi Deepa,
I also have a similar kind of consultancy. Let's discuss this towards a collaborative direction or business partnership. Maybe we can bring it to our business.
You can reach me at 9866018034 (Hyderabad).
Thanks,
Sunil
From India, Hyderabad
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2I also have a similar kind of consultancy. Let's discuss this towards a collaborative direction or business partnership. Maybe we can bring it to our business.
You can reach me at 9866018034 (Hyderabad).
Thanks,
Sunil
From India, Hyderabad
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I have been working as a payroll executive for the past 3 years. I have listed some of the needs below, which should be given priority before starting a payroll consultancy. Hope it will be of some help.
1. The first and foremost point that needs to be addressed is technology. Payroll software plays an important role in processing. Therefore, if you want to satisfy or retain clients, hire a good tech team and invest in good software. Allocate 1/3 of your investment to this aspect.
2. The second thing is your Business Developer (BD). They should have good communication skills in both English and the local language (a linguist will be preferred). The individual should possess a fair knowledge of payroll to explain the various types of outputs the company will provide to clients. Additionally, they should be able to negotiate rates confidently with clients for the services rendered. An experienced BD is preferred.
3. The third important aspect is the team structure. At the initial stage of the company, the team should consist of:
Manager
Team Leader
Executive/Senior Executive
Roles of Manager: The Manager plays a crucial role and should have in-depth knowledge of day-to-day activities from income tax to payroll processes. They can also be referred to as a "Second BD" as they are responsible for client retention. The Manager acts as the bridge between the client and the team, maintaining constant communication with the client to gather feedback and address any further needs.
Roles of Team Leader: The Team Leader is responsible for gathering inputs, processing them, and ensuring timely delivery of outputs to the client.
Executive: The Executive processes inputs according to Team Leader instructions, conducts primary validation before passing it to the Team Leader.
In addition to the above, a separate team for statutory and compliance activities must be maintained.
The team structure is flexible and will expand based on client needs. Feel free to ask if you have more queries.
From India, Madras
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1. The first and foremost point that needs to be addressed is technology. Payroll software plays an important role in processing. Therefore, if you want to satisfy or retain clients, hire a good tech team and invest in good software. Allocate 1/3 of your investment to this aspect.
2. The second thing is your Business Developer (BD). They should have good communication skills in both English and the local language (a linguist will be preferred). The individual should possess a fair knowledge of payroll to explain the various types of outputs the company will provide to clients. Additionally, they should be able to negotiate rates confidently with clients for the services rendered. An experienced BD is preferred.
3. The third important aspect is the team structure. At the initial stage of the company, the team should consist of:
Manager
Team Leader
Executive/Senior Executive
Roles of Manager: The Manager plays a crucial role and should have in-depth knowledge of day-to-day activities from income tax to payroll processes. They can also be referred to as a "Second BD" as they are responsible for client retention. The Manager acts as the bridge between the client and the team, maintaining constant communication with the client to gather feedback and address any further needs.
Roles of Team Leader: The Team Leader is responsible for gathering inputs, processing them, and ensuring timely delivery of outputs to the client.
Executive: The Executive processes inputs according to Team Leader instructions, conducts primary validation before passing it to the Team Leader.
In addition to the above, a separate team for statutory and compliance activities must be maintained.
The team structure is flexible and will expand based on client needs. Feel free to ask if you have more queries.
From India, Madras
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SALARY SHEET CALCULATION.xls
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