Payroll is often the largest expense for any organisation and the highest risk for compliance and financial burden. With a dedicated payroll consultant on hand, you don’t have to be an expert! We cover the end-to-end processes – but also the extra payroll processes which often cause you trouble.
No matter what industry you’re in, outsourcing your payroll management to a third-party can be very beneficial for your business. Working with a payroll consultancy lets you take advantage of their expertise and technology. Putting your payroll services in the hands of payroll professionals also frees up your internal team so they can work on HR projects that can save you time, money and improve employee satisfaction.
Payroll occupies an interesting place in business. It’s an essential part of any company yet doesn’t directly help with sales or scale. This means many business owners see it as a money and resources black hole. A task that should be done as quickly and cheaply as possible to minimise the cost on the business.
But payroll is a vital part of any businesses success, and done correctly it can help create a happier workforce that adds zeros to your bottom line.
Managing a company’s payroll comes with several security risks. Handling the confidential payroll data in-house means it can be open to cyber attacks or employee mis-management.
Whether it’s from staff oversight or phishing scams, having your payroll data fall into the wrong hands is something no business owner wants. Creating a security culture in your office and undertaking regular training sessions are a good way to minimise this risk.
But the single most impactful thing you could do is outsource your payroll functions to a dedicated consultancy. They’ll protect your data with state-of-the-art software and make sure all your documentation is GDPR compliant.
To process the payroll for one person requires 14 pieces of personal data. If any piece of that information is wrong it will lead to a payroll error. Mistakes and payroll errors are more common than many people think. They can upset your staff and cost you money. Incorrect submission of employee tax can lead to fines from the government.
Tax code changes are another thorn in the side of businesses. This often confusing and ever changing legislation can be a nightmare to keep up with. Especially if you’re a small company.
Hiring a payroll consultancy removes this headache. A professional payroll consultancy, like Phase 3, will employ payroll experts and use specialised technology to guarantee your payroll is completed on time and is compliant with government regulations.
Outsourcing your payroll services gives you access to the best payroll technology and a team of payroll experts without having to hire a dedicated person or team internally.
Outsourcing your payroll could save you a considerable amount of money in the long run as you’ll save on people and infrastructure. Managing payroll personally is a drain on your time, errors and omissions can lead to expensive fines. By using a third party consultancy service you avoid all this hassle.
Outsourcing the transactional task of sorting out your company’s payroll gives your in-house team more time to spend on HR projects that improve employee satisfaction. Working with a payroll consultancy gives your team and yourself more time to work on projects that’ll grow your business
We can take on as much or as little of your payroll services as suits you. When our payroll consultants talk to you, they’ll put together a package that is unique to your organisation with the confidence you’d expect from a team of professionals. Whether you need to outsource your payroll team and use a fully managed payroll specialist, or if you just require payroll management consultancy, we can prove a cost-effective solution to help.
Expert payroll professionalism at small-business cost
Added value with a payroll software implementation consultant with additional HR expertise
Strategic thinking on payroll, forward planning and cost
Options to offer a product with service (including self-service)
Fixed Price rather than transactional costs allow for fluctuations in business growth
Flexible payment options (including the use of Credit Cards)
Safeguarding and watching for you the legislation
Same day payments to reflect business needs
A one-stop shop for all payroll needs, such as auto-enrolment and flexible benefits
Your payroll commitments to your employees, your organisation and to HMRC are crucial. Working with Phase 3 will save you time and effort, allowing you as the business owner to focus full time on other key areas, with all of your payroll concerns in safe hands.
We can help you decide which services you need and explain them clearly.
You may wish for assurance that month-end processes are entirely accurate, audited and compliant but have a team in house who can handle the more transactional aspects of Payroll. This service is also appreciated by those who have long term absences of the key payroll professional/manager whether that be planned or unexpected.
If your organisation does not have the time or the team to complete payroll input our team can take away the pain. Our consultants work with your payroll team to determine the most accurate and efficient way of entering payroll data.
Your option for an end-to-end UK payroll process, making sure of the safest stewardship with Phase 3 expertise.
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