Wave doesn’t offer benefits administration, a major drawback, but its recent purchases of companies across the financial sector and its 2019 acquisition by H&R Block promise more capabilities and features to come. It takes care of payroll tax payment and filing in 14 states (and growing), and offers a self-service employee portal for easy access to tax documents and banking and contact updates. Through Wave Payroll, you can pay employees and contractors via direct deposit and automatically generate W- forms for tax season. It comes to the platform along with accounting, invoicing and payment processing for small businesses-replacing a laundry list of tools for many entrepreneurs. Toronto-based Wave is a relatively new player in small business financial services, and it’s making its name by building a user-friendly and affordable platform that addresses the unique needs of freelancers, contractors and small business owners. PEOs like Justworks are a good fit for small businesses with complex hiring and potential business liability-for example, if you hire international employees or have a lot of turnover. Its monthly per-employee fee looks high at first glance, but it could be well below the cost of an HR hire and goes lower the more employees you have. The PEO model also means that Justworks handles all of your HR and payroll duties, so you don’t have to hire or manage HR in-house.
In exchange, you hand over control of some things like the employee handbook and workplace policies. The co-employment relationship means Justworks takes on some legal liability as an employer that you don’t have to bear, which isn’t the case for software-based payroll services. The company engages yours in a co-employment relationship-i.e., it’s an employer of record for your employees-so it can handle HR and payroll on your behalf. Justworks is a professional employer organization (PEO) that appeals to remote teams. It’s designed for companies with fewer than 50 employees, but is a good fit if you expect to grow beyond that, because you could easily migrate to the ADP enterprise platform. More advanced plans include a robust HR platform, including an employee handbook, document management, training programs and employee toolkits.ĪDP RUN is a fit for businesses that need a customizable platform for payroll and benefits. ADP RUN is a simple payroll and benefits administration platform with room to grow into enterprise plans with the main ADP platform.ĪDP RUN offers tiered plans with payroll by direct deposit, a self-service employee platform, new hire onboarding and optional benefits administration for additional fees.
RUN is its small business solution and a good place to start if you’re a small business expecting to grow into a large enterprise. ADP is the largest and one of the most trusted payroll providers in the world.
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