Posted on December 23, 2011

As the year draws to a close, everyone starts thinking about that most pressing of questions: What should my New Year's resolution be this year? It's no different for owners and managers in the business world. Here are a few resolution ideas from Paycor that can help you have a successful business year in 2012.

  1. Consider the advantages of outsourcing your payroll to a third party.

Any business must keep track of a significant amount of data -- everything from payroll data to human resources files to tax records. Outsourcing your payroll can give you numerous benefits.

"Outsourcing payroll and HR processing saves businesses time and money," said Arlene Baker, a board member of the Northern Kentucky American Payroll Association and a trainer at Paycor. "You are able to rely on a competent staff with knowledge on the latest tax and HR compliance changes, which eliminates costly errors. Good recordkeeping for payroll and HR is vital and outsourcing provides you with the latest technology in retaining records according to DOL and IRS regulations. Besides being cost effective and keeping you compliant it allows you the time to focus on the core of your business."

  1. Mitigate business risks by preparing for disasters. Discuss your company policies for emergency preparedness with your HR, IT and other company departments.

Regardless of the size of your business, you face significant risks as a result of potential disasters like an earthquake, fire or flood. There are the hard costs of damage to company assets like buildings, equipment and servers, as well as intangible costs of employee interruption (such as missed days, injuries and lost communication). Software as a Service companies put substantial resources into disaster recovery, continuity plans and data recovery. Having a reliable partner to protect your company data can make a big difference as your company recovers from disaster.

  1. Cut costs by going green.

There's no time like January to make a resolution to make your office more paperless. Consider cutting your paper costs with initiatives like recycling and online payroll. No matter how many employees you have, they will appreciate when your company's green initiative.

Ready to find out how you can become more efficient while reducing your business risks? Visit our Solution Finder tab to take the first step on your path to reducing risk.