Benefits Of Outsourcing Payroll
You can manage your firm’s payroll in two ways. The first, more traditional method is to employ an in-house clerk and purchase dedicated payroll software. The challenges of this self-management route are:-
- It’s expensive: employee recruitment, salary and training fees can run into tens of thousands of pounds; not to mention the cost to purchase software and hardware for staff to use
- It consumes valuable desk space: with office rates at a premium, accommodating another employee is costly
- It’s a specialised role: your clerk must be up-to-date with all the latest payroll and pensions-related legislation; likewise your software should be RTI-ready, auto enrolment-compliant, HMRC-integrated, PAYE-recognised and Bacs-authorised
- It’s heavily regulated: there are, rightly, strict rules and regulations surrounding your employees’ salaries and auto enrolment pensions; getting it wrong could land you a hefty fine and damage your business’s reputation
- It’s highly confidential: there’s nothing more sensitive than your payroll data; your employees won’t thank you if their confidential salary details are leaked so information security’s paramount
- It’s subject to constant change: keeping on top of ever-changing legislation – such as shared parental leave, abolition of National Insurance for under 21s, real time information PAYE reporting and auto enrolment – takes some doing
- It’s time bound: not only do you have HMRC and The Pensions Regulator submission and staging dates to meet, you’ve also got to pay your workforce on time!
The more cost-effective, hassle-free alternative is to appoint our outsourced payroll bureau to do the work for you. Our payroll outsourcing service, with optional auto enrolment pension management, allows you to completely offload your entire payroll function to us, the experts. With our support, you’ve got peace of mind that your payroll’s in safe hands.
Why? We’ve been operating for over 45 years and many of our payroll clerks are Chartered Institute of Payroll Professionals-qualified. In other words, we’re knowledgeable on all things payroll, pensions and rewards. We use our own regulatory-compliant software with data stored in ISO 27001-standard UK data centres. We process your staff’s salaries and pension contribution payments accurately on time, every time.
To top it all, our outsourced payroll service is a mere fraction of the cost so you save money too.
What are you waiting for? Get in touch and enlist our outsourcing support today.