As your headcount rises, payroll obligations rapidly increase and managing them all can detract from running your business.
The risks for making mistakes with payroll are severe, so it is in many businesses’ best interests to outsource payroll obligations to prevent compliance issues.
If your team is growing, now is the time to find out how outsourced payroll can keep your business successful and compliant.
What are the advantages of outsourcing payroll?
Each new employee brings with them a host of payroll requirements that need to be carefully monitored.
Alongside salary considerations, you must also manage employer National Insurance (NIC), pension contributions, statutory payments, benefits-in-kind reporting and the changing rules that accompany each budget and new tax year.
Getting any of that wrong can lead to penalties, back-payments and unhappy staff.
For many SMEs, recruiting and training a payroll specialist in-house is inefficient and expensive, as it fills up a seat at the table to solve a problem that would be better addressed by an external expert.
Outsourcing payroll gives you access to an experienced professional who can offer their help and insight as and when you need it.
A specialist provider keeps pace with legislative change, applies tested processes and offers software-driven workflows that reduce manual error.
Their experience is something that would take years to cultivate within your own team and would detract from training up more vital members of your team and growing your business.
How do outsourced payroll services support businesses?
Outsourcing enables you to lean into the flexibility that is often required of businesses that engage with seasonal work.
Seasonal recruitment is a common headache as whether your business manages a summer surge or the festive rush, you need to be able to keep up with payroll requirements.
A third-party provider lets you scale capacity up or down without the cost and commitment of permanent hires.
Similarly, if you operate across multiple payrolls or jurisdictions, outsourcing simplifies multi-location compliance and consolidates reporting.
If payroll is diverting your leadership focus from growth, consider handing it to specialists so you can concentrate on sales, operations and your people.
You know your business best and we understand how to support successful businesses with their payroll.
Our team can handle the obligations of payroll so that you can continue growing and expanding the team.
For a practical review of how outsourced payroll could work for your business, speak to our team today!
