My husband and I are starting a new company in Ontario, Canada, and targeting to get about 25 employees. I am trying to gather as much info as I can about how to create a human resources and payroll system for a start up company. I am the HR Director, but I don’t have a lot of experience with startup. What would be the best way to establish the payroll structure?
As of right now, I looked for these options:
- using Electronic Fund Transfer offered by my bank and do the deduction by myself,
- using a payroll software offered for a monthly fee
I don’t know if someone have suggestion about it. I am not looking for the brand of a software, I am more looking to see if the option of doing myself makes sense? I want to learn, and of course save money to the company. That’s why the idea to hire an experienced contractor to help with it is not an option. We want to reduce the cost, and since I will oversee the HR department, we can’t justify to investors to spend more money on it. I am already taking some free online HR courses, and I look for any workshop in my area. However, so far, nothing is really related to HR for a startup.
I am open to any other suggestions; your help and advice would be highly appreciated. Thanks!