Many small business owners in Singapore assume the role of a payroll personnel in their companies to save costs as the role is not a revenue generating position and the responsibilities seem trivial. However, many underestimate the importance and the benefits of a payroll specialist. This in turn takes up a lot of time or in worse cases, it may hinder the company’s reputation due to payroll compliance issues. The consequence of hiring an inexperienced payroll specialist or inaccurate payroll systems may lead to more costs and problems for the company in the future.

Before we address the importance of hiring a payroll specialist, let’s take a look at what the job position encompasses. The main task of a payroll specialist is to process and manage the payroll systems for all employees in the company. This qualities of a payroll specialist requires them to be familiar with existing payroll systems, is knowledgeable in current payroll policies, is meticulous with numbers and has good communication skills to attend to any inquiries pertaining to payroll.

A certified payroll specialist would have to go through the Fundamental Payroll Certification (FPC)course followed by an advanced Certified Payroll Professional (CPP) course. The FPC is open for anyone interested in understanding the processes of a payroll personnel or for those looking to attain a basic competency as a payroll personnel. The CPP on the other hand requires candidates to have either worked in payroll for an accumulated 3 years, worked in payroll for a consecutive 2 years or to have 1.5 years in payroll with an FPC designation after completing at least one payroll programme under APA.

So besides the certification, job scope and qualities needed to be a payroll specialist, what does their day to day work really entails?

A payroll specialist must have a constant understanding of the local regulations and compliance laws/policies of a country. This would require the specialist to research and read up on constant changes in these laws/policies. They will also be required to calculate the payroll for all employees after taking into consideration their benefits, compensation, tax and allowances. The payroll specialist will have to be meticulous with a high attention to detail when it comes to tabulating these numbers. The crunch period for most payroll specialists usually happens during the end of the month as they would have to tabulate and check these numbers then.

With the push to go digital in Singapore, many companies and processes have been digitalised. HR personnel, payroll specialists included, are required to have HR software experience. The added advantage of having customer service experience would also help when communicating with employees regarding payroll inquiries.

Having a payroll specialist on hand ensures that a company has more time to focus on core competencies and growing the business. Also, payroll and tax compliance are sensitive issues that require the payroll specialist to be extra careful – conducting multiple checks to ensure a company is abiding to local laws and policies. The consequences of inaccuracy can cost a company money and time with audits, checks and in worse cases, hefty fines for noncompliance. With a payroll specialist, a company can also ensure that employees’ morale is sustained due to consistent, timely and error-free wages & benefits.

Now that you know the benefits of a payroll specialist, are you looking to hire a competent one? Why not look at HR consulting firms in Singapore? By hiring through a human resources solutions provider, you are ensured that the payroll specialist is certified, capable and experienced. This cuts down the time needed to source and interview payroll candidates. A HR agency in Singapore will also have systems, training and technology equipped to better handle your payroll needs.

With several HR and payroll outsourcing companies in Singapore, how do you find the right one for you? Meet TalentSpot, the leading human resource company in Singapore with over 500 employees operating in eight countries and areas in the Asia Pacific region: Singapore, Malaysia, Indonesia, Thailand, the Philippines, Vietnam, Japan and the Greater China region (including Hong Kong & Taiwan). TalentSpot has worked with a broad range of partners worldwide – providing customised human resource services in a myriad of industries from Retail, Healthcare, Finance, Manufacturing, Logistics, Education and many more.

At TalentSpot, we have a team of highly qualified and experienced consultants to cater to the varying needs of different businesses, coupled with our investment in human resource technology – making us the top human resource outsourcing service agency in Singapore.

Take your first step on HR outsourcing in Singapore with TalentSpot today!