Please update your browser.

We don't support this browser anymore. Using another one will help protect your accounts and provide a better experience. 

Update your browser

Please update your browser.

We don't support this browser anymore. Using another one will help protect your accounts and provide a better experience.

Update your browser


We’ve signed you out of your account.

You’ve successfully signed out

We’ve enhanced our platform for For a better experience, download the Chase app for your iPhone or Android. Or, go to System Requirements from your laptop or desktop.

Transcript Turn on audio description

Managing payroll is one of your most important responsibilities.

Payroll alone can account for 70% of total business spending.

First, evaluate what needs to be done and when, and who is responsible for making it happen.

Next, evaluate your options. What can be automated? Done less often? Outsourced? What are you doing that can be delegated so you have time to grow the business?

Consider hiring independent contractors for fractional roles.

Or student interns from local colleges. Maybe use seasonal staff for busy times.

Implement a plan, but stay open-minded. Understand your plan’s impact on employees and keep them informed, active and engaged.

Monitor progress and change tactics if necessary. And finally, know your industry’s pay scale and be competitive. Reward your top people. Provide training and room for growth. Most of all, let your employees know they are appreciated. Together, your business can go further.

What You'll Learn

This video offers considerations on how to manage labor costs more efficiently. Assess your labor picture, discover ways to streamline costs and attract the best talent.

time 1
Minute Watch
Decrease Cash Out

Managing Payroll Costs

Managing the cost of employees and other resources you have aligned for your business can be daunting at times. This video provides ideas for deploying them correctly and aligning them with common goals and clear parameters. This can not only help to maintain your business but also place it on the right path for growth.

Be flexible in how you delegate and adjust as your business evolves. This can help ensure that employees are satisfied and productive while maximizing their contribution.

For Informational/Educational Purposes Only: The author’s views may differ from other employees and departments of JPMorgan Chase & Co. Views and strategies described may not be appropriate for everyone, and are not intended as specific advice/recommendation for any individual. You should carefully consider your needs and objectives before making any decisions, and consult the appropriate professional(s). Outlooks and past performance are not guarantees of future results.

Explore checking options designed for your business.

Continue to Chase for Business Banking