19 May Taking on your first employee? It’s time to outsource your payroll
Many businesses think that payroll is something they only need to consider outsourcing when they have a team of employees.
The reality is, however, that you don’t need to wait until you have a whole department before considering the benefits of outsourcing payroll. Whether you have one employee or 100, it’s a worthwhile investment.
Here are a few simple reasons why.
Freeing up your time
Payroll takes time, even when you’re just handling the payment of yourself and one other employee. When your business is first starting, your time is at a particular premium. Outsourcing your payroll to a professional and properly accredited accountancy firm can take the work off your to-do list and allow you to better focus on building your business. Those time savings will only continue to increase, the more your business grows.
Preventing payroll mistakes
Payroll is one aspect of your business you desperately don’t want to start making mistakes on. Making errors with an employee’s pay is the easiest path to seeding bad feelings in the working environment, and when your business is growing, you need a cohesive working culture more than ever. When you’ve had a hard day building your business and you handle your own payroll at the end of it, it’s easy for those little mistakes to start happening.
Implementing scalable payroll systems
A payroll system should be efficient and dependable, whether you have one employee registered in it or one thousand. There’s never a bad time to lay the foundation of a payroll system that will work efficiently for your business. It means that as your business grows and you begin to expand and take on more employees, you can simply implement them into your existing payroll model. It’s easier and more efficient than trying to build one around them.
Outsourcing is an accessible investment
Outsourcing payroll is not beyond your financial reach as a small business. For a small investment, you will be able to get all of these benefits, in a package that’s tailored to your needs. Contact the professionals at SQK Accountancy today to learn more about our payroll services and how they can help you.