Three great infographics for payroll and auto enrolment knowledge
Carrying on the National Payroll Week theme of educating the nation, today we take a look back at our payroll and auto enrolment infographics as quick snapshots of information.
The first of the infographics takes a look at the key facts behind auto enrolment. The headline figure being that between now and 2018 there are going to be around 1.8 million businesses reaching their staging date. This is an increase by 500,000 after the government re-evaluated their estimates following an increase in business start-ups and a decrease in business closures.
The main problem that this causes is the much talked about "capacity crunch". This is the situation where the inflated amount of businesses staging means that the demand for help, goods and services for auto enrolment is greater than the supply available to meet the industry's requirements.
There are many large pension providers that are unlikely to accept auto enrolment schemes for business because the contributions are too low for it to be a profitable business venture. Some pension providers have even set a minimum contribution level.
Find out more of the facts about auto enrolment in: "Auto Enrolment: The Key Facts"
The next infographic that is on the list is about electronic payslips. A payslip is something that has, for many years, been a standard veteran of the payroll department. With every pay period comes a payslip but the days of printing, sorting, sealing and sending are now very much behind us. This infographic looks into "What makes electronic payslips the future?" and information on how much money you could save by going electronic.
Not only is the money saving part a big aspect but it reduces your carbon footprint and ensures you have a green company.
Take a look at the infographic "What makes electronic payslips the future?"
Recently we have undertaken a business and accountancy auto enrolment survey. 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.
Download the free infographic for the main findings of the business survey:
All of these infographics are centred around education for auto enrolment. At IRIS we advocate learning as much as possible in as much depth as you can in order to ensure that you are properly prepared for when you have to undertake your auto enrolment responsibilities.
With National Payroll Week we want to take this opportunity to further promote the importance of payroll in the auto enrolment process because it is the logical place to run assessment.
You can find out about IRIS auto enrolment solution; the IRIS AE Suite™ by booking yourself on a completely free demonstration. See how it streamlines your auto enrolment processing adding almost no extra time to your payroll.