Outsourcing Payroll Services During A Recession

Outsourcing Payroll Services During A Recession

Outsourcing Payroll Services During A Recession

The ongoing Covid-19 pandemic has shaped the way businesses operate within the UK and will continue to have knock-on effects in the future.

A whole array of industries have been impacted, and the introduction of the Job Retention Scheme from HMRC has allowed many businesses to retain their staff during a difficult trading period. Having staff on furlough may financially aid the company, but it also puts an additional strain on the day-to-day running of the business. Even if the trade is minimal, there is still administrative work to be done, including payroll. The flexible furlough scheme also adds to this workload, as employees are no longer earning just a basic salary but different rates of pay for when they are working versus when they are furloughed.

Reduce The Burden On Your Staff And Improve Efficiency

Instructing outsourced payroll services in the UK is a great way to take some of this burden away from your business. It is almost always a more cost-effective way of processing your payroll by simply paying outsourced payroll service providers rather than the expense of bringing an in-house employee back from furlough. Staff who have returned to the workplace are likely to be incredibly busy picking up the workload of their furloughed colleagues. Outsourcing payroll is a brilliant way of relieving these staff, allowing them to focus their efforts on the important task of getting the business back to its pre-Covid level of trading.

Utilise Up-To-Date Technology

Outsourced payroll service providers also give you the peace of mind that your business will be adhering to the latest government regulations when it comes to payroll. With the Job Retention Scheme, the government has changed the stipulations surrounding furlough frequently. Using an external provider will ensure that you are always operating within this remit, as well as minimising the risk of keying errors. Providers who solely focus payroll will always be at the cutting edge of the industry, employing new technology and ways of thinking as soon as they are available.

Take Care Of Your Workforce

Whilst the nationwide vaccination programme is underway, we are still a fair distance from being able to safely return to the office working as we know it. Outsourcing your payroll requirements will allow you to continue to protect your staff, with no need to be physically present in the workplace. Employees will appreciate an employer who prioritises their health, boosting team morale when they are able to return from furlough. In return, a workforce who feel cared for will fulfil their potential and give your business the boost it needs as the country emerges from a tough year.

If you are looking to reduce your outgoings, seeking payroll outsourcing services in the UK would be a great place to start. Reach out to us to start your preparations for a successful return to business in 2021.

Image source: Unsplash

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