Payroll & Reward

The first part of our latest series of webinars discussed the gender pay gap, and looked at how your company can analyse and act on your data effectively.

It’s fair to say that the transition can be a little daunting in itself, without worrying about something going wrong. Before you hand over your payroll responsibilities to an outsourced provider, here’s a quick guide to getting it right.

If you’re thinking of moving your payroll responsibilities away from your in-house staff and to an external provider, one of the first things you’ll need to consider is how outsourcing payroll costs will stack-up against your current outlay. Of course financial costs are the main consideration, but it’s also worth thinking about time-savings too. After all, in business, time is money.

During May, we hosted a series of virtual roundtables with a range of Heads of HR and Payroll. Supporting the roundtables were two experts in the field of payroll management and automation; Stephen Knapman – Global Sales Manager of SD Worx, and Audrey Wilson – UK Head of Reward and Benefits at Capgemini. Whilst the conversations were wide ranging, in this article we will summarise a few of the key topics discussed and the conclusions reached.

The concept of outsourcing your payroll is highly appealing. Businesses effectively gain more expertise, experience and resources, and it costs them less.

Payroll is responsible for far more than the administration of salaries, time & attendance and tax. Modern payroll looks after your greatest asset - your people - and provides critical real-time data to the business for evidence-based decision-making.

Checking receipts and verifying compliance are time consuming tasks with very little direct return. And yet, they are essential to ensure that your business is running smoothly. 

In the era of automation and digitisation, expense management software is an important tool in your cost control arsenal. Find out how expense software can increase compliance within your company, and help ensure it going forwards.

Payroll & HR are the guardians of rich employee data. Successful organisations understand that access to this people data – presented as a single source of truth – facilitates evidence-based decision-making and stronger outcomes. It builds organisational resilience for the ‘never normal’ we are facing, optimising processes and managing risk whilst identifying viable initiatives. It also builds trust and transparency at all levels of seniority.

Traditional travel & expense management (T&E) is admin-heavy, time-consuming and vulnerable to errors, making it obsolete in the modern workplace. Forward-thinking companies are already automating the process in line with digital transformation goals. A leading software and technology solution not only empowers employees, including Payroll & HR teams, but can pay for itself in a matter of months through the insight and cost savings achieved.

Employers reward staff with pay and benefits, but if employees don’t understand the package, its motivational impact is lost.

If you’ve reviewed your current payroll supplier and think you’d be better off elsewhere, it may be time to switch to a new provider. After all, smooth, efficient payroll calculation and payment remains the top concern for HR and business leaders.

Efficient and reliable payroll is critical for every business. Yet with the increasing complexity of the workforce and the constant updates to payroll legislation and policy, you may be considering switching to a new provider that guarantees more value than your current one.