At PayThrive, we strive to help business and nonprofits realize what we call “Human Capital Gains”. This is where one realizes return on investment (ROI) for their HCM, PEO or payroll service “spend” in terms of actual improvements in efficiency, workplace culture and legal compliance.
Whether you’re a business owner managing your employees or an HR director trying to support the entire team, finding the right technology and service provider can be hard. Maybe you:
Do you seek solid HCM advice that will help you modernize a cumbersome payroll & HR process, provide automated workflows, notifications and get your employees using your technology platform? Good news – PayThrive delivers.
PayThrive can offer a very wide array of HCM, PEO & payroll services, from the straightforward and cost-effective to the most comprehensive and cutting-edge technology and strategies in the marketplace. This would of course include web-based payroll solutions, web-based time and labor solutions (including mobile apps with passive GPS tracking & Geofencing in some cases) with optional clock hardware, web-based HRIS/HRMS technology, web-based benefit admin platforms, web-based applicant tracking systems, web-based new hire onboarding solutions and also employee engagement / assessment solutions. Many service providers offer these solutions on the same platform as a ‘single database’ (one login for all, one contiguous data record). A single database also allows your employees to more easily engage the HCM solution – which is probably one of your main goals and ultimately is the ROI you may be looking for.
Sometimes business owners & nonprofits need deeper levels of experience in their HR department or want to do more for their employees. Maybe you want to improve your company culture and minimize legal exposure but can’t afford to hire this kind of expertise —or maybe you want a benefits package that will help attract top-tier talent. For these types employers, a PEO may be the answer you are looking for.
A PEO (Professional Employer Organization) provider offers the deepest level of service and support via a co-employment relationship they create. A PEO shares the employment liability with the client (where payroll is a core service) but also provides large group health benefits purchasing power, workers’ compensation insurance risk management / cost containment and the deepest HR support available – at a fraction of the cost it would take to hire employees to bring this expertise in-house.
No matter how it gets done, payroll must be done right and on-time. This requires some expertise or some training, and some kind of technology platform – whether an in-house platform or an outsourced service provider. PayThrive offers outsourced payroll service (aka “Tier 1”) providers that are very competitively priced, with very user-friendly platforms and no-nonsense service packages. The hallmark of a Tier 1 provider is that they are typically experts (of payroll rules, regulations and industry technology) and will focus like a laser on mission-critical payroll and related services for their clients. For a small business that does not require an “HCM” or full-suite solution and wants to maximize cash flow, this type of service provider can be the perfect partner for the “right now”.
Some accounting platforms offer payroll solutions as an additional module. Depending on the needs of the client, a more straightforward or add-on type of system like this might get the job done for a while. But as a business grows and the needs get more complex, especially for third-party services and integration, one soon discovers the capabilities and limitations of their payroll system. At that point, a payroll system bolted on to an accounting platform may no longer make the grade. A company needs a solid payroll platform and solid payroll service provider to grow and get to the next level, especially if they do not have in-house expertise to get it done on a simpler platform. These days, very affordable payroll technology does not have to be a limiting situation. One can get a lot for the money with payroll outsourcing and offload some of the most complicated and time-consuming compliance aspects of a business – to a dependable payroll vendor that lives in this lane all day long, every day.
If you’re uncertain about which solution you need — HCM, PEO or Payroll — take our quick quiz to rank yourself into one of these three tiers of service. Of course, you can always call us at (844) 244-9480 and we can help you determine what solution is best for you.
While the HCM / PEO / payroll industry is loaded with technology, technology alone is not the game-changer. The key is to find a game-changing service provider – one that not only has top-tier technology and deployment, but one that also knows how to empower the client to the point of fluency and eventual mastery of their HCM platform. We find that empowered clients are far happier clients. The reason? These clients receive the ROI or Human Capital Gains they were looking for in the first place from a payroll / HCM provider. Ultimately, the 21st century payroll / HCM technology consumer seeks providers that offer liberation, not dependency.
The key to PayThrive’s business model is that we act as a broker of these services, leveraging relationships we have created with both best-of-breed and best-in-class service providers – where we consistently assess these relationships.
PayThrive will start with fact gathering, to help quantify your level of need and to learn what strategies you have already tried to deploy. We then work with you to choose several HCM / PEO and payroll providers we feel could meet your needs, presenting some initial options and getting your feedback. We coordinate engagement throughout the process such as conference calls, online meetings and demos. Once we have confirmed your desired service profile (i.e. the services you want to be quoted for) we work closely with the service providers. We ensure that all desired services are properly addressed in the proposal and that you are receiving the most competitive pricing possible.
We do not charge a fee unless the client requires a more involved multiple month / extended on-site meeting engagement schedule with several service providers (if meetings are all done remotely as online meetings, this would not apply). If so, the fee would be a “contingent refundable deposit” – returned if the client chose to move forward with one of our providers or retained by PayThrive if not. An Engagement Letter may be presented to the client at the inception of this kind of process.
To help make our deliverables easier to understand, here is how we define the capability levels of the service providers we bring to the table — defined as Tier 1, Tier 2 and Tier 3. Uncertain which on you need? Take our easy placement quiz.
Outsourced / Full-service Payroll Provider
Human Capital Management Service Provider
Professional Employer Organization / Co-employment
*Providers may offer on-site check printing for clients
**Providers may offer Certified Payroll via their platform, others offer it via a 3rd party solution
***Providers may utilize a 3rd party vendor for time & labor management that may not offer physical clock hardware
^May be a 3rd party bi-directional or integrated solution / not part of the core platform & may require separate login (most often with Tier 1 providers)
^^May be a 3rd party service or agency, i.e. a vendor of the service provider (whether separately branded, co-branded or white-labeled)
^^^Appointed to offer insurance as an agency and possessing their own insurance plans, with either an in-house broker or utilizing a 3rd party insurance brokerage firm