Outsourcing is a popular option for businesses’ non-core functions.
All services that you do not charge for or work towards bringing in more profit can be described as non-core functions.
There are many tasks within the day to day working of any businesses that, while necessary, do not make profit.
Payroll services are one of the most commonly outsourced business tasks and with good reason. The benefits of outsourcing payroll are numerous and if you want to free up staff time, while maximising profits, then your business should seriously consider payroll back office support.
Top 5 Benefits of outsourcing payroll
- Increase productivity – By outsourcing your payroll you will free up time for your staff to focus on making your business a success. Without the distractions of necessary admin, staff can spend more time on providing a great service to your clients.
- Increase profits – Hiring in-house payroll staff can be very costly and you also need to trust they will stay on top of the latest payroll regulations. You might even need to spend money and time on training your current staff to carry out these duties. Specialist payroll software can also be an additional cost to your business whereas you could save considerable money by outsourcing this service to experienced professionals.
- Reduce risks – By using back office support services like outsourced payroll you reduce the risks to your company. Trusting in compliant companies with a firm reputation takes the burden of worrying about payroll regulations out of your hands and offers a greater level of security. Specialists in back office support will always be on the ball when it comes to legal changes that could affect payroll.
- Latest technology – Professional back office support and payroll companies will have access to the latest technology which can maximise accuracy and efficiency when it comes to payroll tasks.
- Budgeting – When you sign up with a payroll company all costs will be agreed up front making it easy to budget. This will make planning for the year ahead and focusing on your business goals much easier.
Outsourcing payroll is particularly relevant for recruitment agencies who may find the world of payroll increasingly difficult to navigate due to factors such as pension auto enrolment and intermediaries reporting.
Zodeq’s back office support for recruitment agencies offers high-quality payroll services so you can have peace of mind that everything is taken care of.
If you are considering outsourcing your payroll, call us today to discuss the options 01244 617 087.