There are many recruitment businesses who choose to outsource their payroll, but why?
For temporary recruitment agencies managing their payroll and keeping up to date with legislation is becoming more complex and problematic. Payroll is no longer a simple process and with the introduction of auto enrolment and intermediaries reporting the weekly task has become very time consuming, complicated and often puzzling.
Benefits of outsourcing your payroll
1) Reduce costs
Hiring a payroll expert is expensive, and keeping them fully trained and up to date on changing legislation will take time and money. By outsourcing your payroll this cost is reduced by over 70%, a saving which goes straight on your bottom line.
2) Free up your time
You can remove this administrative and time consuming process by outsourcing to the experts. This enables you to focus on value-added tasks within your business that generate revenue.
3) Peace of mind
Comfort that your payroll is dealt with by knowledgeable experts that work for you, to protect your business, deliver an accurate payroll every week and strengthen your client relationships.
Costs are agreed up front - that way you know what profit you are generating each week and can easily work out your margins.
Use the tried and tested systems of the payroll and back office provider. They will give you access to detailed and easy to understand reports for every element they manage. This way you don’t need to upgrade your current systems or buy a new one and can overview the whole process and track your success.
"Outsourcing our payroll has given me and my staff more time to focus on selling and looking after our clients, which has been great for business. Now I don’t have to spend time raising invoices, preparing payroll or chasing payments.” M Stanmore
Our payroll team have over 100 years’ combined experience managing recruitment payroll and dealing with tax calculations, benefit allowances, holiday accruals, expense reimbursements…and the list goes on!
We appreciate that Recruitment agencies typically need more than just outsourcing of their payroll, they also need to finance it which is why we developed PayFactory, our full back office and payroll finance service.
If you are already using another payroll provider and are interested in comparing the service and costs, contact us today and we will happily discuss your needs so you can choose which service works best for you and your business.
For more information about payroll finance please get in touch; you might be surprised at how affordable this excellent option is for your business.