Is Outsourcing Payroll Right for Your Business? 5 Questions to Ask

According to recent research, outsourcing payroll is the fastest-growing sector in the global human resources outsourcing market. Could this be a cheaper option for your business in challenging times?

READ MORE: When to outsource payroll: 6 signs your business has outgrown in-house payroll

Would outsourcing payroll help your business?

The 5 questions you need to ask yourself before outsourcing payroll

These are the 5 questions you need to ask within your business before outsourcing payroll:

1. What is it costing your business to employ payroll staff, payroll systems and training?
2. Do you have staff cover for payroll processing during the holiday season or for sickness?
3. Payroll is becoming increasingly complex – are your staff keeping up to date with the changes?
4. If a HMRC inspector arrived in your office, would you be confident nothing would be found?
5. How much time is spent managing employee queries or re-running the payroll?

5 advantages of outsourcing payroll

Outsourcing provides a number of advantages.

1. Allows your people to focus on the business. The end-to-end payroll process can be very time-consuming. This time could be better invested in focusing on the core business.
2. The costs of maintaining payroll systems and having the correct IT structure can be costly – not to mention disaster recovery! By outsourcing payroll, you are relying on the experts who have the integrated systems and disaster recovery processes already in place.
3. Payroll is evolving and is becoming increasingly technical. Training can be time-consuming and expensive. Remove the risk from your business and put your payroll in the hands of technical payroll experts.
4. The penalties for getting payroll wrong can impact your business financially and have a detrimental effect on staff morale. Letting an external team handle your payroll can provide the reassurance that everything will be processed correctly and on time – reducing risk.
5. Using specialist payroll outsourcing services will provide you with the knowledge that you are working within the legislation set. You may react quickly to the needs of clients and staff, but are you doing it by the book? Technical specialists will provide guidance and support and will not think twice about challenging current processes to ensure you are acting in the best interests of the business and your employees.

How AAB can help WITH OUTSOURCED PAYROLL

Payroll outsourcing can feel like a big step outside your comfort zone. But it could also be one of the best decisions you make for your business.

From reducing the pressure on your team to helping you stay compliant and freeing up valuable time, our Outsourced Payroll Services can take the hassle out of payroll and give you greater peace of mind.

Want to find out how payroll outsourcing could work for your business? Get in touch with Adam Flight or your usual AAB contact. We’re here to help.