Payroll has changed drastically with the advent of new technology and changes to the rules surrounding the national minimum wage and workplace pensions – it can sometimes feel like too much.
That’s why it makes sense to outsource your payroll function, so that you don’t have to worry about falling foul of the law.
The dangers of non-compliance
Failing to stay up to date with the latest changes to statutory pay rates or workplace pension contributions could lead to a fine or see your business named and shamed publicly.
The Government takes a far stricter view of non-compliance than it ever has done before and holds employers to the highest standards.
Failing to comply risks you losing the trust of your employees and could have a significant effect on the profitability and reputation of your business.
On the horizon
One of the key issues of the moment is the Government’s proposed Good Work Plan. This proposal aims to improve the working conditions for hundreds of workers and employees in England and Wales and is likely to have an impact on the way many people are paid.
While the formal introduction of the Good Work Plan has been delayed and is yet to be legislated for, employers need to be ready for its implementation. To give you an idea of what this will entail, we have provided a link to the Government’s guidance.
How we can help
National Payroll Week is taking place on 2-6 September, bringing with it a nationwide focus to this vital process, now is the perfect time to review how you manage your payroll.
Lamont Pridmore works with businesses of all sizes to provide a complete and reliable outsourced payroll solution, so you can focus on running and growing your business.
To find out how we can help you, contact us today.