How Satisfied are SMBs with their Payroll Provider?

Small and midsized businesses (SMBs) are generally happy with their payroll provider, according to a recent Bredin survey of 500 U.S. and 100 U.K. SMB principals.

Payroll provider satisfaction is highest among U.S. small businesses (SBs, with 20-99 employees). 73% rate their payroll provider a nine or 10. U.S. very small businesses (VSBs, with 1-19 employees) are close behind, at 67%. Satisfaction is lower among U.S. midsized businesses (MBs, with 100-500 employees) and U.K. SMBs, at 54% and 52%, respectively. Net satisfaction tells a similar story; the percent of SBs rating their provider a nine or 10 minus those giving it a zero to six is 64, versus 59 for VSBs, 33 for MBs and 38 for U.K. SMBs.

SMB Satisfaction with Their Payroll Provider

Not surprisingly, MBs are most likely to switch payroll providers. Almost one in three (32%) are very or extremely likely to switch providers this year. It’s a bit more surprising that given their relatively high satisfaction, SBs are next most likely to defect; almost one in four (23%) are very or extremely likely to switch. VSBs (11%) and U.K. SMBs (7%) are the least likely to change payroll vendors.

SMB Likelihood to Switch Payroll Vendors

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