What is Payroll Outsourcing and Will it Work for Your Company?

What is Payroll Outsourcing and Will it Work for Your Company?

When you allow a third party outside of your organisation to perform payroll duties for your company it’s called payroll outsourcing. Partnering with a team of payroll professionals in this way allows you to focus on your own business instead of keeping up with current legislation that governs your payroll, taxes, and other documentation that has to be filed in a timely manner to avoid penalties. Will outsourcing payroll work for your company? This is a major decision that must be carefully thought out before you decide to enter into a contractual agreement with any outsourced payroll service provider. Ask yourself some of the following questions as you search for the right company for your outsourced payroll needs.

What is Payroll Outsourcing and Will it Work for Your Company?

  1. Are you or your payroll employees stressed over auto enrolment? This reform, enacted in 2012, has impacted the pensions of employees in every niche and sector in the UK. To alleviate the stress of having to learn about and keep up with this complex system you can use expert payroll services in UK locations that help to minimise the time and effort needed to keep your employees and their pension plans up to date.
  2. Do you need to spend more time growing your organisation instead of working feverishly each pay period on details regarding employee sick days, days absent, and other facts related to payslips for your staff? Outsourcing payroll tasks can bring additional time and money to your business. You won’t have to dedicate a team of your own employees to handling such accounting tasks when an efficient and well-trained payroll company can handle them for you. When it comes to hiring outsourced payroll services, be sure to check their experience, the services that they provide, and how well they understand the business niche in which your company operates.
  3. Here in the UK, the average salary for a payroll manager is £32,500. If you add in costs related to printing payslips, payroll software, sealing machines, and training for staff to keep up-to-date on legislative changes, the amount of money invested in processing payroll can be considerable. The experts at www.berkeleyhamilton.co.uk believe that you can save money no matter the size of your company if you outsource your payroll tasks.
  4. Do your employees expect accurate payslips delivered to them, on time, each pay period? Outsourcing payroll duties takes advantage of the expertise of payroll professionals with extensive experience and knowledge. If you choose your payroll agency carefully, you won’t have to worry about all of the machinations of doing and delivering payslips each pay period.
  5. Is efficiency a must for your business? If all other areas of your company are geared for optimal operation, your payroll should also be prepared and delivered with the same level of efficiency. Ask any payroll service provider you consider hiring about customising the services offered to better accommodate your needs exactly.