In 2013, we first asked whether organizations believed a single provider could meet their payroll needs globally. At the time, only 15% of companies agreed with this statement. In 2017, this number grew to 52%, signaling a key shift within the marketplace.
However, despite the strides global providers have made, only 55% of organizations state that it is easy to conduct business with their vendor. This shows that while from a payroll service perspective, providers are improving, there is still an opportunity to increase their customer service and improve client interactions.
In terms of cost, while we expect some level of frustration, the troubling aspect of this measure is that only 57% of organizations believe that their payroll provider provides value for its cost. This may stem from the growing cost of services, but it is likely to be more the result of a broader simplification of payroll operations which reduce the perceived value of outsourcing as costs stay relatively stable.
Ultimately, 44% of organizations would not be likely to recommend their payroll vendor.