Should I outsource my payroll? Is payroll outsourcing right for you?
Outsourcing your payroll can have a massive impact on your business and it takes more than price comparisons to make sure you have chosen the right provider before you switch. Before you sign on the dotted line, perhaps you should consider the following salient points.
How will I be looked after?
Many larger providers offshore their service delivery to reduce overheads. This leaves customers having their payroll processed by teams who they have little or no direct contact with. Ask your provider if all work is handled in-house and not sub-contracted out. Ensure you are provided with a dedicated account manager, who will be your contact point who understands your unique payroll inside out.
What if my business changes?
Changes to staffing levels or employment terms can frequently alter payroll data or cycles. Your payroll provider should understand that businesses going through change do not want to incur additional costs in the process, so ask for a breakdown of your fees before signing the contract. Make sure hidden extras will not come as a shock throughout the year such as setting up starters/leavers, issuing P45s, RTI, year end, P60s and ePayslips.
How do you ensure accuracy and remain compliant?
Organisations who choose to outsource should not spend their time inputting data, checking for errors or querying calculations. Understandably, any bottlenecks in the payroll process could result in delayed payments to employees. Make sure your provider fully understands your organisation’s structure and that your payroll process is documented and organised in a systematic approach. Your provider should take a very active role in identifying and resolving errors and misnomers before they become a problem. Ensuring all aspects of your payroll is accurate, compliant and dealt with efficiently on your behalf.
What experience do you have with payrolls similar to mine?
An organisations’ payroll can manifest in a myriad of guises due to legacy systems, takeovers and complicated cost centers which requires experience to manage. Demand a provider that has longevity and experience in your sector and deal with payrolls of a similar nature to your own. References and site visits to existing clients should be encouraged to ensure their full understanding of your payroll is determined and your questions of their ability and suitability is answered.
How do you rate your customer service levels?
Here at Cox & Co. we pride ourselves on our client focused approach. The proof of the pudding is in the eating and our clients understand references are key in making long term strategic decisions – that is why they are happy to discuss their experiences with organisations who are interested in outsourcing their payroll to us. However, not all payroll providers can demonstrate their commitment to client satisfaction and retention. So go beyond generic website testimonials and ask to speak to their clients directly.
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Can we help you further call us on 0117 9328145 or contact us.