Outsourcing Your Payroll Why Should Your Business Use an Outsourced Payroll Service?
An increased number of companies are now using outsourced payroll services, including the
payroll service we offer, as a cost effective, practical and simplified payroll solution. This is especially true amongst SME’s where the cost of using an outsourced payroll service can work out significantly cheaper than hiring someone to handle their payroll on a full or part time basis. Many businesses also prefer the ease of having an agency or service handle their payroll as it frees them up to do what they do best, run their business, but how do you know if using an outsourced payroll service would be of benefit to your business? We asked our team of payroll experts why they would recommend using ELAS’s payroll service and this is what they said: Staff Numbers and Resources
Let’s be honest, by using an outsourced payroll service you no longer need to maintain a payroll team which means a reduction in staff saving you money on salaries. Using our payroll service allows your staff to concentrate on other pressing and important tasks within your business. It also means you can ensure your staff are trained to do their job to the best of their ability, rather than having to dedicate their time and energy to being proficiently trained to handle your business payroll requirements. Outsourcing payroll also gives your business a greater scope for growth as you can relax in the knowledge that no matter how fast your business grows, you have a professional payroll service capable of handling all of your requirements and these services will always be scalable with your business.
Every business wants the best candidate for each position within their business but, when it comes to the payroll department, most SME’s aren’t able to offer the kind of salary that attracts the highly experienced professionals. Whilst hiring newly graduated staff will get you a professional who is looking to prove themselves they won’t have the full wealth of experience required for the role. An outsourced payroll service, however, will be full of experienced staff who are aware of all the ins and outs of payroll-related tax laws and up to date with the latest government legislation.
No Need for Training
If you’re not handling your payroll internally it stands to reason that your
training costs will be reduced as you wouldn’t need to train staff to handle payroll systems. By extension, you will reduce the pressures on your staff who would otherwise be required to incorporate your payroll requirements into their day to day role within your company and remove the pressure on your staff to keep up to date with ever-changing legislation. Speed
Outsourced payroll services like ours are expert at what they do. The experience they bring means that they are able to handle even the most complex payrolls in a quick and efficient manner allowing your staff to get paid on time, every time.
Correct Processing Every Time
Payroll mistakes have a knock on effect to your staff, causing them to miss payment dates on household bills which can be stressful and annoying. These mistakes can also be extremely embarrassing for you as a business owner and could even cause staff to lose faith in your abilities as a business owner. Repeated payroll mistakes can cost you valuable employees, suppliers or even customers. A good outsourced payroll service will ensure that your requirements are met on time, every time allowing your staff to get on with their day to day business without the stress of worrying if they’ll get paid on time next month.
The Overall Cost
We’ve already touched upon the fact that national and international business can quite easily handle their own large payroll departments, however a garage owner with only 4 employees may not have the knowledge required to effectively handle theirs. In fact a large number of SME’s learn very quickly that having an in-house payroll team means business overheads can start to spiral out of control. In addition to the salary for full/part-time staff the costs of payroll software, training, printers, printing, distributing payroll slips and maintaining tax records can very quickly add up. SME’s could also find that their payroll requirements wouldn’t warrant having a full time accounts team so, logically, the ideal solution would be a low cost, professional service such as ELAS Payroll which provides the service that their business requires.
A Service You Can Rely On
Staff holidays and sicknesses can cause problems for any SME after all your business is only as reliable as the people working within it. An outsourced payroll service isn’t affected by staff sickness or holidays meaning that even when you have a disproportionately high number of staff absent from work e.g. during school holidays or the summer months, your payroll output won’t suffer. Using an external payroll service means that you don’t have to worry about your staff getting paid on time when you’re working with a skeleton staff. Imagine having an internal payroll department and one of them announces they’ve found another job. Suddenly your remaining staff are left playing catch up whilst a new member of staff is interviewed, hired and fully trained. Using a service like ours means you have one less department to worry about!
Flexible Packages Tailored to Your Business
This should be self explanatory but at ELAS our payroll service is a tailored package to suit any business from the smallest to the largest and anywhere in between. These flexible packages are tailored to meet your business’s exact requirements meaning you’re only paying for what you need. As your business grows, the scope of your payroll package can grow alongside you.
A Totally Secure Service
Have you got the time required to constantly monitor your business’s payroll to see if any members of staff may be taking advantage of you? Would you even know if one of your team was embellishing your payroll for their own gain? With an outsourced payroll service you don’t have to worry about any of this, saving you the time that would be spent ensuring nothing untoward was happening within your business. Trust us when we say it happens more often than you’d think!
A Completely Worry Free Service
How much is your time and peace of mind worth? Would you like to not have to worry about whether your payroll will be completed on time every month? With a payroll service you can rest assured that everything will be delivered on time, every time.
Still not sure if an outsourced payroll service is right for your business? Call our payroll services team today on 0161 785 2000 to find out how we can help your business