The COVID-19 pandemic has impacted us all on a global scale. As well as serious implications for people’s health, COVID-19 has and continues to significantly impact businesses and the economy. After seven months of responding and reacting to the pandemic, we are all learning how to adapt, provide solutions, and move forward with our ‘new normal’. The focus has now shifted to supporting staff with a complicated phased return to work whilst acknowledging the required changes that are ahead of us.
As businesses and staff start to settle in again, areas of required improvements have emerged because of the pandemic. Many organisations are now recognising that their payroll and processes need adapting at the very least. Reasons such as lack of understanding of legislation, increased workload, absences, reduced inherent experience and increase in human errors are all examples of why normally straightforward payrolls may have struggled through the pandemic.
Companies that still carry out payroll processes internally have been significantly affected, compared to those that have outsourced their payroll. Payroll is an area of the business which must function effectively and efficiently. It can be complex and time-consuming, it can also carry a huge risk of error. These few examples are why organisations historically chose to outsource their payroll.
In a recent survey of decision-makers, Zellis* found that nearly a third of organisations have lost capacity in their payroll function due to pressure caused by the COVID-19 outbreak. They cited a number of causes including the lack of confidence from payroll teams, lack of access to infrastructure and resources at home, managing short-term changes and worries of losing essential payroll to staff to illness or absence.
Businesses under normal circumstances choose to outsource their payroll, however with the new added pressure of the pandemic and the uncertainty of the long-term impact, developing a relationship with an outsourced partner can help besieged payroll departments overcome these challenges.
All of the above should now pose the question – could outsourcing for your payroll be the best solution for your Company?
The goal is to remove any challenges and to ensure that your payroll is run smoothly and efficiently.
Remember the benefits of outsourcing include:
• Save on time and cost
• Reduced stress
• Access the latest technology
• Guaranteed compliance
• Avoid mistakes
• Access to a team of experts
• Provides cash flow visibility
• Increase productivity
• Enhanced security
With over 40 years of experience in international payroll solutions, Resource Group is confident we can help advise struggling companies to make the most of the opportunities that are still available, even during this crisis. Now is the time to prepare for the new dawn ahead.
For further information on how our team can support you with outsourcing your payroll, contact us via email: email@example.com