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Finance

Autumn Budget 2021: What does it mean for HR and payroll teams

By Business, Finance, HR News, HR Software, Natural HR, News

In the House of Commons, Chancellor Rishi Sunak has this afternoon delivered the second Budget of 2021. Taking to the dispatch box while the nation continues to deal with the fallout of the COVID-19 pandemic, Sunak outlined his plans to prepare the UK for a new economy post-Covid. This plan included lifting the economy and extending support for individuals, businesses and entire industries as we now work ourselves through an economy no longer supported by schemes like the Coronavirus Job Retention Scheme. While the cost of inflation was expected to rise to as much as 4% in 2022, Sunak’s Autumn…

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7 Ways that Natural HR’s Payroll module can support your business

By Finance, Natural HR, News, Payroll

The Government recently named and shamed almost 200 UK employers, including household names John Lewis, The Body Shop International, Enterprise Rent-a-Car UK and Pret A Manger, as among those who have failed to pay their employees the National Minimum Wage. Multiple investigations by HM Revenues and Customs (HMRC) found that a total of £2.1 million was owed to more than 34,000 workers due to National Minimum Wage (NMW) breaches taking place between 2011 and 2018. The employers have since been made to pay back what they owed and fined an additional £3.2 million; in a move, HMRC said showed that…

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The 3 most common types of Employee Payroll Fraud: How can you prevent them?

By Finance, Natural HR, News, Payroll

Employee payroll fraud is one of the most common types of workplace fraud you can encounter and will generally be committed by an employee attempting to receive any money they are not entitled to. If you were looking to define it, you would say that it’s the theft of funds from a business via its payroll processing system. In 2021 any type of fraud – but especially payroll fraud – can be costly to your business, with payroll fraud costing UK companies around £12 billion per year! This article will answer two questions. Firstly, what are the three most common…

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Preparing for the end of Furlough: The steps HR teams need to take

By COVID-19, Finance, HR News, Natural HR, Payroll

The Coronavirus Job Retention Scheme, better known to us as the furlough scheme, was announced at the start of the COVID-19 pandemic in March 2020 and was introduced to protect UK workers when they had to stop working and minimise the threat of mass redundancies due to the global pandemic. Now, after over a year of supporting the UK economy and saving an estimated 11.6 million jobs at the cost of £66bn, the scheme will officially be retired from September 30th 2021, 4 weeks from today. With that in mind, Natural HR has put together this article on preparing your…

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BLOG - 6 Payroll performance metrics you need to be tracking

6 payroll performance metrics you need to be tracking

By Finance, Payroll, Statutory Sick Pay

In a world where numbers and metrics determine success, it’s essential to develop and track key performance indicators (KPIs) to show that business objectives are being achieved efficiently. Organisations use high-level KPIs to focus on the overall performance of the business. Meanwhile, low-level KPIs are prominently used to target processes in different departments such as finance, payroll and HR. Whether you’re a standalone employee or part of a larger payroll team, these payroll performance metrics will provide you with the knowledge to track the success of key business objectives, ensure payroll resources are distributed correctly and help support your employees….

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