16 Jul 2019
Outsource your payroll
Is it time to look at outsourcing your Payroll?
At MHA Monahans we believe Payroll is an integral part of all organisations, as it affects every aspect of your organisation, from company reputation through to the moral of your employees. Your Payroll Manager/Officer is not only responsible for prompt and accurate payment of employee salaries, but safeguarding the company’s reputation by ensuring compliance with necessary legislation.
Unfortunately, payroll errors are more common than you might think. Many businesses, particularly smaller ones, find it challenging to keep on top of the frequent and complicated changes surrounding payroll legislation.
If you can answer Yes to any of the questions below, it’s time to take a close look at outsourcing your payroll function, to allow you to concentrate on what you do best - grow your business:
• Does it take longer than necessary to process the payroll?
• Are you concerned you may not be complying to all relevant legislation surrounding payroll, such as GDPR and auto-enrolment?
• Do you or your colleagues spend too much time working on payroll?
• Do you get complaints from your employees about Payroll mistakes?
Outsourcing can mean a reduced spend in the long term, ability to free up resources and improve turnaround times, allowing you and your employees to focus on the other important things that matter. If payroll is costing you too much time and money, you are making too many mistakes and you are finding compliance difficult, now might be the time to consider outsourcing.
Why should I switch to MHA Monahans Payroll Bureau?
• Rapid turnaround of processing
• Safe and secure environment for GDPR sensitive information, including a secure portal for payroll documents
• Full reporting and up to date information including direct reporting to all major pension scheme providers
• Importing Payroll information directly into our payroll software, if required
• Access to skilled personnel who can support the business in setting up new elements and schemes as required.
• Seamless management of joiners and leavers
• Self-service access to payslip information via a GDPR secure portal or app
• Payslips are designed to provide full and clear detail about the amount paid, including performance related or bonus payments and hence reduce employee queries.
In a fast-changing world, organisations should be looking for a partner who can:
• Support business change that affects payroll
• Understand schemes such as Auto Enrolment and Give as You Earn
• Respond rapidly to support your organisation’s needs
• React quickly – Bonus and other payments are often finalised with little time to notify payroll teams. A payroll services provider needs to be geared up to respond flexibly to change
• Foster an environment of on-going improvement.
If you would like a confidential conversation to assess how this could benefit your business, please contact Neil Manuel.