IRIS’ top tips for payroll professionals looking forward
As payroll is always changing due to new legislation being introduced and continuous technological innovations, it’s easy to feel overwhelmed when trying to keep up.
To support, we’ve used our 40 years of experience in the payroll sector to compile our top payroll tips for large organisations looking to improve their processes.
Tip 1) Don’t underestimate the value of payroll
We found that due to payroll being a long-serving business-critical function, the benefits it can provide are often overlooked as it’s simply expected to be there.
The impact this has on organisations is that the software and processes in place often become outdated and lack innovation as they’ve been forgotten in a sense.
This results in organisations failing to innovate and achieve potential payroll benefits.
Check out our blog here for more information on the value payroll brings UK businesses.
Tip 2) Define the criteria of a successful payroll department
Payroll is in most cases defined as successful if employees are paid accurately and on time.
While this is a crucial factor, a successful payroll department can offer so much more and should be defined by two separate criteria:
- Day-to-day delivery
- Future view capabilities
However, some payroll departments are unable to achieve future view capabilities due to outdated processes, prompting the need for a modern solution.
Check out our blog here for more information on defining payroll success.
Tip 3) Consider outsourcing your payroll
Payroll outsourcing is becoming an increasingly popular solution and as a result, service providers are striving to innovate and further differentiate their offering.
If payroll takes up too much of your time, or you’re looking to save time and resources, consider outsourcing.
Check out our blog here to find out what our predicted payroll outsourcing trends are.
Tip 4) Identify how modernising your payroll software can benefit your organisation
Organisations often are unknowingly damaging their payroll department and strategic decisions due to archaic technology.
By identifying the challenges a modern payroll solution can overcome and the benefits it can bring, you can create a much stronger business case for modernising your department.
Check out our blog here that details a few ways your organisation could be hindered by archaic technology.
Tip 5) Plan for business growth before it’s too late
When businesses rapidly grow either via mergers or organically, payroll is one of the key business functions that must be prepared for the huge wave of employees.
Otherwise, you run the risk of employees not being paid accurately and could even face data security issues.
Check out our blog here to find out how you can prepare your payroll for business expansion.
Hopefully, these tips and additional resources have helped you look forward with payroll certainty.
If you have any questions please give us a call on 0344 815 5656 and to view our payroll solutions, click here.