Hi Friends, I have many friends who are currently working on third party payroll system and they shared their experiences with me. Most of my friends who are currently working for third party payroll companies shared the consequences they are dealing with now.
But, firstly let me take you to the pros of working in third party payroll companies and what is third party payroll system:
What is Third Party Payroll System?
Third party payroll system is basically working for a company and getting the salary from some other company. For example, working for an MNC like TCS while getting paid by a consultancy for the same (P.S. it is different from freelancers work). Also, you are not considered an employee of TCS for this. Most of the time, you will be working at client site. Now let’s see some pros of working in Third party payroll system and the companies up for it.
Pros of Working in Third Party Payroll System
- Benefits of Client Company
Since you will be working at client site, so there must be some occasions like festivals when the client company is providing some facilities and goods to its employees. That time, you are also benefited with those goods and services.
2. Learning Opportunities and Challenges
Working on-site, provides ample learning opportunities and challenges. It gives happy experiences to meet new people and work on different kind of tools.
3. Recognition for Good Work
If you do something very good while being on third party payroll system, this can give you a two sided rewards and recognition for it. One from the client side and the other one from the company that is paying you.
Cons of Working in Third Party Payroll System
Phew…I could only found the two pros of working on third party payroll system reviews from my friends but the list of cons is too big..
- Salary is low compared to Market Standards
- Not Getting Salary on Time
- Rewards are delayed
- Small mistakes are considered Big
- Confusion about Point of Contact
- HR is the only God
- Growth is very slow
- Difficulty in Job Switch
- Get used to words like Vendors
- Job Security
- False Promises
- Working on Internal Tools
Let’s discuss all these cons in my next post.