The Changing Landscape of Payroll Management Post-Coronavirus: Choosing the Right Solution

How important is payroll to you? Such a simple question I ask potential clients when I meet them, but I learn so much from asking this one question!

Let’s get one thing straight: without effective, compliant payroll, your business will at worst fail or at best, result in an unhappy workforce plus penalties and fines being issued by HMRC or The Pension Regulator!

The pitfalls of the payroll function failing are many:

·???????disgruntled employees

·???????reputation for future hires

·???????security breaches

·???????client reputation (have you seen how they treat their staff?)

·???????fees and penalties

·???????and what if this got out into the media?

Since the onset of the Coronavirus pandemic, almost every business has had to adapt and make changes to their processes, be it HR, technology/IT, marketing or sales, and payroll management is undoubtedly one of them. Many organisations have realised the potential risks they may face by running their payroll in-house. They see the costs that could be saved by outsourcing and streamlining this process to ensure employee satisfaction, compliance and overall business continuity. There are many different companies in the market all offering to do payroll. However, buyers be warned…the old adage of “you get what you pay for” is very relevant in the world of payroll processing. Going cheap does have significant risks and we are seeing increasing changes in legislation regarding payroll, tax and pensions to name a few. From clients I have spoken to in the past, issues such as compliance, accuracy, fines/penalties and delayed payment can lead to significant unrest within their workforce as a result of some of the issues listed previously.

What’s my advice? As with most things when choosing a supplier – DO YOUR RESEARCH!

Speak to others within your industry or even your clients or suppliers for their testimonials about their own payroll provider. Before partnering with a payroll service provider, it is crucial to conduct thorough research and gather testimonials from their current or past clients. Consider their experiences, reputation and track record. Testimonials can provide valuable insights into the provider's reliability, accuracy, responsiveness and overall client satisfaction. It goes without saying that a reputable payroll service should be able to demonstrate a history of delivering excellent service and support.

When I speak with potential clients, I’m conscious that they know who they are speaking to and I believe I have the knowledge, experience and passion required to support them in all their payroll requirements. Does your supplier offer a dedicated member of their team for you to contact directly or do they operate through a call centre style environment? Working with one point of contact can enhance communication with a personalised touch and quicker response time. Understanding the service level agreements (SLAs) of a payroll service provider is crucial. SLAs define the expected response times, issue resolution processes and overall responsiveness of the provider. Ensure that the payroll service you choose aligns with your business needs, offering timely support and issue resolution to minimise disruptions and maintain smooth payroll operations. What may appear low-cost from the outset could become more costly and expensive when you start getting charged for things that you didn’t realise fell outside of the initial scope of works.

If you want to discuss your payroll requirements directly, please reach out to me at:

?

ADAM?FLIGHT?(HE/HIM)

Director?of?Payroll

For?and?on?behalf?of?Moore?Kingston?Smith?LLP

Main:?+442045821000

DDI:???+442045821015