Payroll can often be stressful and time consuming. Lots of businesses see things such as administration and payroll activities as low priority – but here is where they are wrong. Payroll plays a crucial part in any business, and failure to correctly implement these procedures and follow legislation can land your company in a tricky situation. This is why outsourcing payroll can help give you peace of mind.
A lot of work, stress and time can come with payroll, and you may not have the capacity to fulfil the responsibilities it comes with. This is when you know it is time to outsource your payroll. Outsourcing payroll can come with many positives, here are a couple of reasons why it will be the best option for you.
Outsourcing payroll – and outsourcing generally – reduces stress. It will mean you have one less thing to worry about on your ‘to do’ list, putting your mind at ease knowing your payroll is in safe hands. A weight will surely be lifted off of your shoulders. With resources limited and multiple employees usually carrying many responsibilities, doesn’t it make sense to hand something as important as payroll over to the experts? Also, relying on specific employees to manage these procedures can be a dangerous game. In the event of holidays/sickness or even employees leaving, what are you going to do about payroll?
To free up your time
Payroll can be a very lengthy process. If you are operating a small business, you know that time is something that you simply do not have. Outsourcing payroll will show how much free time you can regain, which is crucial for any business. By handing over payroll to an outsourced company, you can use your time to focus on important and pressing tasks.
To cut costs
Outsourcing payroll is cheaper (if you choose the right company), and more cost effective than hiring and paying an employee to run the payroll for you. You could use the money on something to help grow the business instead. Training dedicated personnel can also be very costly as well, as the saying goes: time is money.
To give you reassurance
We all know the hard work that comes with running a business, and the effect that can have on the mind and body. Say goodbye to long, sleepless nights of worry and trying to make everything work, and allow us to take care of the payroll side so you can focus on the business.
By outsourcing your payroll services to us, you can stay confident in the fact that your payroll is completely covered and dealt with in a compliant and efficient manner by a skilled professional with valuable experience.
To keep compliant
Tax rates and legislation are always changing – can you confidently say you are fully up to date with the latest regulations?
Keeping up to date is so important and can be a full-time job in itself and not a lot of companies have the spare resources to have dedicated people to do this task.
Mistakes in payroll can be serious, costly and time consuming by leading to audits, possible fines by HMRC and, in the worst case, employment tribunals with employees who have lodged a complaint for companies not following legislation and/or paying incorrectly. With so many other things to look after, it is simply unrealistic to expect small businesses to stay aware of these regular updates.
This is where outsourcing this work will come in handy.
If you would like to learn more about Wurkplace’s payroll services or want to speak to an expert about how we can help take the risk out of your business, get in touch today. Contact us via our online form, or by calling us on: 0330 400 5490.
A valued member of the Wurkplace team providing administrative and coordinating skills for the HR department and also overseeing the accounts department of the business whilst carrying out key bookkeeping tasks and conducting payroll.
Georgia holds a level 3 in Business Administration and AAT level 2 whilst continuing to work towards gaining a diploma in AAT.