Everest Research Institute Provides Tools for Payroll Service Level Agreements

Payroll service level agreements are contracts between buyers and suppliers that outline what services will be delivered, including the quality and frequency.  Buyers and suppliers use payroll service level agreements to set expectations and clearly define performance objectives.

Everest Research Institute, founded by Everest Group, is an independent research and analysis organization that focuses on multi-process HR outsourcing, such as payroll, database administration, training and benefits administration.  When it comes to payroll outsourcing, Everest Research Institute offers solutions to make the arrangement between the buyer and seller a success.

Payroll outsourcing has been around for decades.  Many organizations outsource payroll activities because it minimizes costs and allows employees to focus on the core business.  Tasks associated with payroll are not considered to be strategic, which is why it is a function that frequently gets outsourced.  

Firms that offer payroll services generally provide a wide range of offerings, including calculating payroll deductions and filing tax reports.  Payroll service level agreements identify the services that are to be rendered to the buyer and the purpose of these contracts is to ensure that the supplier is meeting the company’s needs.  There are many components that are incorporated into good payroll service level agreements, which should leave little room for ambiguity.  Everest Research Institute has created a comprehensive template that companies can use when negotiating payroll service level agreements with suppliers.

Payroll service level agreements should define the boundaries of service, major functions, process constraints, performance measurements, desired results and service level specifications.  It is crucial that payroll service level agreements are very detailed to eliminate confusion between the buyers and suppliers.  Service level specifications must be thoroughly explained and the service level goals must be clear and reasonably attainable.  There should also be information regarding how these goals will be evaluated, which would include performance metrics and review frameworks.  

The Statement of Work & Service Level document provided by Everest Research Institute is designed for HR Payroll service functions and is meant to help buyers with outsourced services.  This valuable template incorporates the necessary components for payroll service level agreements and is a guideline for legal documents on governing the quality of the services delivered.  The commonly outsourced responsibilities outlined in the Statement of Work & Service Level document will help buyers when negotiating with suppliers.

Everest Research Institute serves as a central source of strategic intelligence, analysis and insight for buyers.  Through the valuable information that Everest Research Institute provides, companies can better shape strategic business decisions.  Everest Research Institute frequently researches and analyzes specific areas of interest for buyers, such as HR outsourcing in the mid-market, talent management and Pan-European payroll outsourcing.  By having access to industry thought leaders, valuable research and the vast knowledge that Everest Research Institute has gained over the years, businesses can make more informed decisions that will lead to successful outsourcing arrangements.

For more information regarding payroll outsourcing or Everest Research Institute call (214) 451-3110 or visit www.everestresearchinstitute.com to speak with an outsourcing specialist.