Paying your employees is a lot of admin. By hiring staff to handle it, you lose vast amounts of money each month. But between meeting tax requirements and managing your reports, there’s a lot you need to get right.
In this article, we explore how outsourcing your payroll to a third party provider can save you time, money, and a whole lot of stress. We also look at how you can get started and exactly what payroll services involve.
You’ll avoid errors
Payroll providers such as EWS automate the labor-intensive parts of managing payroll, reducing the chance of human error. Then oir experts work at speed, with years of experience avoiding mistakes and double-checking entries. With this technology and processes in place, you can also ensure complete security. Your data will be encrypted and protected
Pro-tip: You can save time by integrating your payroll with other HR tasks such as employment services and outsourcing this too. Click here to learn more.
You won’t need to keep up with the latest legislation
Government tax regulations can change, and if you’re handling payroll yourself, you’ll need to stay on top of these amendments so as to avoid fines. HMRC also requires that you submit information in a very specific way every time you make a payment.
You’ll have access to experts year-round
Hiring a member of staff to handle payroll means that there will be days in the year where there is no one to manage the process. If they are on holiday or sick, your employers may not get paid and admin may piling up.
By outsourcing, you’ll have access to experts whenever you need. And you’ll avoid those all too frequent cases where something unusual happens, and your team doesn’t know how to handle it.
You’ll cut costs with no need to hire in-house staff
Payroll can eat into your staffing resources. If you handle it internally, you’ll have to train and pay people to manage this function each month. You’ll also need to budget for payroll software, printers, and more. And this is far more expensive than paying a provider.
By outsourcing to a partner like EWS, you can take all accountability away from your team, and save money with a highly experienced, highly efficient service. Read on to discover what exactly our payroll service encompasses.
What areas of payroll can you outsource?
A payroll provider such as EWS handles all of the following tasks:
– Benefits and expenses administration
– Coordination with your HR and finance
– Employment and service agreements
– Local tax administration
– Legal representation and assistance
– Monthly payslips and reconciliation
– Multi-currency payments
– Payroll processing and audit services
– Pension funds administration
– Regulatory compliance
– Social security administration
– Translation services
We can save you time and money straight away.