5 top tips for preparing for auto enrolment
As more and more companies start preparing for auto enrolment, pension provider NEST has put together a list of top tips to give employers an idea of what steps they need to take to ensure they are ready for the change.
To put the top tips together, NEST surveyed a number of companies who are already complying with auto enrolment in the hope that their experience could be of use to smaller companies which are yet to stage.
The 5 top tips for preparing are:
Examine your existing payroll systems
Plan as early as possible
Assess your workforce
Develop a clear communication plan
Consider bringing in external support
These top tips confirm what many other industry experts have been saying for some time now; that businesses need to start preparing at least 18 months prior to their staging date. Some of the tasks involved such as assessing your workforce, examining your existing systems and developing a communication plan can be quite time consuming.
The Pensions Regulator provides a free tool on their site which helps businesses create a plan for auto enrolment according to their staging date. You can create your own free plan on The Pensions Regulator website.
One of the most important steps in preparing for any legislative change is to educate yourself and your team on the change, as well as how best to prepare for it. If you want to know what you need to do and when, why not book a place on one of our three hour auto enrolment training seminars?