Restaurant Owners Look to Create Efficiencies
Payroll and tax processing can be a burdensome human resource responsibility for any business. Restaurant payroll, in particular, can be very time-consuming due to the payment of different types of wages with varying tax requirements, making legal compliance a big challenge. Missing a quarterly tax form submission or other required reporting can prove to be extremely costly.
Oasis, a Paychex® Company, recently surveyed 130 U.S. small business owners and managers who operate in the restaurant industry and learned that many use third-party software systems to improve operational efficiencies for routine tasks such as payroll. Eighty-four percent of respondents said they use some type of software to help generate employee wages, with 31% using software with a direct deposit option, and 32% generating payroll with software that includes direct deposit and paperless pay stub options.
Fifty-seven percent of respondents said their payroll system meets their needs and is “robust and captures companywide data and financial reporting.” In addition, 56% said they use a time and labor management system to record hours worked.
Does your payroll system currently meet your reporting needs?
- Yes, it is robust and captures companywide data and financial reporting – 57%
- Reports are available, but they do not provide an integrated view of company performance – 23%
- My system doesn’t provide reports or only limited reporting is available – 18%
How do you record your non-exempt employees’ hours worked?
- Time and labor management system – 56%
- Paper timecard – 16%
- I have all salaried-exempt employees, so this doesn’t apply – 12%
- Honor-based employee self-reporting – 9%
- I do not formally track – 7%
As a small business owner, consider the following questions:
- How efficient is your payroll administration? 57%
- Is payroll accurate? 57%
- Would you benefit from outsourcing payroll and tax administration? 57%
Perhaps it’s time to work with a Professional Employer Organization (PEO) like Oasis. Working with a PEO can simplify your payroll and tax administration services, resulting in significant cost savings, reduced errors, and increased productivity, as well as provide access to technological platforms for just-in-time reporting and dashboard metrics.
The new Oasis® Client Services Website streamlines payroll processing like never before. Whether you select the time sheet entry option, or support for multiple time systems, we can import and post your employee data for review and submittal and help make the process painless. Our simple entry sheet allows you to access key pay data quickly and correctly the first time with running totals, alerts, and a payroll preview option. And, if you do need to restart a payroll, we offer a quick restart option giving you full control over your batches. Once everything is ready, we offer a one-click approval process to submit and process.
Businesses that work with companies like Oasis:
- Have reported growth of 7% to 9% faster than those who do not use a PEO
- Have employee turnover that is 10% to 14% lower
- Are 50% less likely to go out of business.
Visit www.OasisAdvantage.com or call (866) 314-8333.
Download a complimentary copy of the complete survey results here.
About the Study
This survey was conducted with 130 U.S. small business owners and managers who operate in the restaurant industry and who employ between 10 and 99 employees. Fifty-two percent of the respondents were male and 48% were female. Eighty-nine percent of the businesses were privately owned, and 58% operated from one location. Most companies were well-established with 36% operating for over 20 years and a further 25% of respondents said they had been in operation for 11 to 20 years. Interviewing took place online, between March 26 and April 9, 2019, using a National Web Panel by SSRS, an independent market research company located in Glen Mills, PA.
Professional employer organization (PEO) services provided by Oasis Outsourcing, Inc. (Florida employee leasing license GL42) and its affiliates, which are licensed or registered to provide PEO services where required by law.