10 Benefits Of Outsourcing Your Payroll
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“10 great reasons to outsource your payroll to us.”
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Cost Of Payroll
Large businesses can afford to maintain big payroll departments. For small businesses however, having someone in-house to focus on payroll can be expensive especially if there is not enough work to fulfil a full time employee. If you calculate the hours your employees spend on payroll related activities, plus payroll software, training costs and ensuring compliance with the most current payroll legislation, you could outsource this role from as little as £1.90 and save on hours, holiday entitlement and software costs but still receive a professional, reliable and friendly payroll service.
It can be expensive to employ staff with the necessary training to operate a payroll system. For smaller companies where the payroll role is not quite enough to warrant a full-time employee, you may have to use your current staff to train in payroll as an additional responsibility to their current role. This can divert much needed resources especially with the changing legislation they would need to keep up to date with.
The payroll function can consume a large proportion of your staff resources, especially if the staff in charge of the payroll and not trained specifically to deal with it. The benefits of outsourcing your payroll include freeing up these resources allowing your staff to concentrate on more essential tasks. You may even be able to reduce your staff’s size. Outsourced payroll functions also gives you better scope for expansion with a scaleable payroll service to match your growth.
Certain types of employment can give rise to complicated pay run which involve complex calculations. It pays to have a wealth of experience at your disposal. A good payroll service provider will know all the ins and outs of payroll related tax law and latest government legislation.
As with any small company, if a member of staff becomes ill then covering that persons duties can be difficult. Now add into the mix that they are the only ones able to run the payroll and report the figures to HMRC. By outsourcing your payroll you don’t have to worry about this. We will always ensure your payroll is run on time so you don’t miss any deadlines due to illness.
As payroll service providers are specialists, they can process even the most complex payrolls at a great speed, providing a quick turnaround time on your payroll when required.
Payroll mistakes can be painful, upsetting and stressful. A good payroll service provider is far less likely to make a serious error than your in-house staff, as you are paying them for their expertise, knowledge and finely-tuned checking procedures they have in place.
Many payroll bureaux can offer small and medium sized business total payroll packages in which all your payroll requirements can be met. With outsourced solutions, these packages are often flexible to meet your specific business model so you don’t end up paying for something that includes services you don’t need or misses key features that you do need.
Do you have the time and energy to closely supervise your business’s payroll for time and rate abuses and other shady activities? As an independent party we have no hidden agendas and so you payroll will be processed in an impartial way ensuring that no fraud is being undertaken or manipulation of the payroll.
Peace Of Mind
There’s a lot to be said for the peace of mind that outsourcing payroll services can bring to a business owner or manager. No headaches, no hassles, no stress, no worries: You’re left to focus on running your business knowing you payroll obligations are dealt with correctly, efficiently and lawfully.