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HRO TODAY May 2013

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Payroll Hitting Pay Dirt Today's payroll solutions are more than just paychecks. By The Editors The backbone of HRO, payroll outsourcing (processing, withholding, and benefits accrual) is the most commonly outsourced HR function. In fact, according to research firm Gartner, the payroll business process outsourcing service market increased 5.2 percent in 2011 and is forecast to grow 1.4 percent in 2013. This comes to an estimated five-year compound annual growth rate of 3.3 percent through 2015. NelsonHall reports top payroll drivers include reduction and control of costs; compliance and risk management; better technology; improved quality; and process improvement. Plus the need for a streamlined global and multicountry payroll process will continue to push the market forward. We've compiled a list of providers to help you in your request for proposal process. [16] HRO TODAY MAGAZINE | MAY 2013

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