Payroll can consume a large proportion of your staff time, especially if they are not trained specifically to deal with it or have the payroll function as a small part of their overall responsibilities. By outsourcing your payroll frees up these resources and allows your staff to concentrate on more important tasks.
Most payroll bureaux have technologies that can spot and alert clients to various types of payroll fraud, such as payment manipulation and ‘phantom workers’.
If you calculate the hours your employees spend on payroll activities, plus software costs, training, printers, printing, distributing payslips, creating tax documents etc, you would be surprised how much you could save by outsourcing.
An outsourced payroll team can turn your payroll around quickly, they know when the pay run needs to be made and can work to deadlines.
Payroll mistakes can be stressful. An outsourced payroll provider is far less likely to make an error than in-house staff, as you are paying them for their expertise, knowledge and finely-tuned checking procedures.
Your payroll staff need to keep up to date with the latest tax and legislation changes. Paying for training and relying on your internal staff to get it right can prove costly.
Payroll structures or scenarios can be complicated. A payroll service provider will know all the ins and outs of payroll-related tax laws and latest legislation from HMRC.
By outsourcing your payroll, output, speed and quality won’t vary in accordance with holidays, sickness, or staff leaving.
Outsourcing your payroll brings peace of mind to a business owner. Leaving you to focus on running your business knowing your payroll obligations are dealt with correctly, efficiently and lawfully.