Business auto enrolment survey [Free Infographic]
IRIS conducted a survey of over 300 SMEs between April and July 2015, looking into how prepared they are for auto enrolment.
IRIS have now put together a quick infographic for you to see a snapshot of the key findings from the survey. This includes a worrying proportion of businesses expecting to manage their auto enrolment manually and there also being a large amount of businesses that are still unsure of their responsibilities around auto enrolment communications.
Downloading the infographic will allow you to see where your business is at in comparison with other small businesses that are yet to reach their staging date. The main message that was found however was in regards to businesses not preparing for auto enrolment early enough.
The Pensions Regulator (TPR) recommend that you begin preparing for auto enrolment 12 months before your staging date. This is because the demand for services and help is likely to increase as around 1.8 million businesses are set to stage between now and 2018.
Our survey found that a large number of businesses are going to start planning less than 12 months before they stage meaning that they are at an increased risk of being non-compliant by the time their staging date arrives.
Another interesting finding that you can see in the auto enrolment survey infographic is that there are a worrying number of businesses that are planning to run their auto enrolment via a costly, illogical middleware solution. Running your auto enrolment within your payroll is the most logical solution because this is where the majority of the information needed to assess your employees resides.
You can view our free online seminar “10 reasons to choose payroll for auto enrolment (over third party systems)“. Joining the web seminar will allow you to see 10 reasons why running your auto enrolment within your payroll can help to streamline the process, meaning you have more time to spend on other business critical activities.