5 great reasons to outsource your payroll!
With all the recent changes to legislation affecting payroll – Real Time Information, Automatic Enrolment and holiday pay – it can be pretty hard to keep up! That’s why many small businesses take the decision to outsource this function to a payroll service provider, relieving themselves of the burden and stress.
Here are five great reasons why you should consider outsourcing:
Operating an in-house payroll system can be costly. When you factor in the staff hours, the investment needed in payroll software, staff training and even equipment for printing payslips, it’s amazing how the costs stack up. If you do some honest calculations and compare your in-house costs with those of an external payroll provider, you may be pleasantly surprised!
In many small businesses the responsibility for administering payroll is given to an existing member of staff, on top of their ‘day job’. That person needs to be trained in payroll procedures and to keep up to speed with complexities of tax legislation. A payroll service will know the ins and outs of payroll law and ensure that all your statutory obligations are met in an efficient and timely manner.
An individual who specialises in a particular business function like payroll is able to achieve speedy and accurate turnaround times. They also develop an eye for detail enabling them to identify at any early stage any potential errors in the information they are given. Payroll mistakes can be stressful and upsetting for both staff and employer, so accuracy is key!
Placing responsibility for payroll in the hands of one employee can be a risky strategy. What happens to your payroll when that person goes on holiday, is sick, or they decide to leave the business? An outsourced provider offers a consistency of service that won’t vary during staff absences.
With a trustworthy provider taking care of your payroll, you’re less stressed and you have more time to focus on what you do best – running your business. Your legal obligations are taken care of and your employees are happy because they’re being paid accurately and on time.
BVSC has been operating a professional Payroll service for more than 20 years, and specialises in providing support for small businesses, social enterprises and voluntary sector organisations.
Contact us for more information, or visit our website www.bvsc.org/payroll.
Tel: 0121 678 8815
“Birmingham LGBT is a rapidly growing community based charity. From the start, we chose BVSC to provide our monthly payroll service, initially with four staff which now has risen to approximately 20 staff. They have always been very efficient and cost effective and we would be happy to recommend them.”