fbpx
Category

Payroll

payroll data

6 ways your payroll data can save you money

By | Payroll, Uncategorized | No Comments

For many businesses, paying your people is the single most expensive bill you’ll incur – representing up to 60% of overheads. Despite this, most overlook the value of the data that is available in your payroll system – and its ability to save you money in the long term. Undoubtedly, companywide initiatives that focus on interrogating HR data, talent metrics and performance analysis are crucial; but combine this with your payroll data, and you’ll have an entirely new view of your business. As a function, payroll is uniquely placed between your HR and finance departments. While many businesses have a…

Read More

6 tips for payroll success

By | Payroll, Uncategorized | No Comments

While processing payroll can be one of the biggest sources of frustration, it is unequivocally one of the most important parts of your business. Your employees are your most valuable asset, and as such, they deserve to be paid correctly and on time. While payroll is often the biggest expense for a company, it can get even pricier when mistakes are made. Making mistakes when running payroll can be costly not only to your employees, but to your business too – both financially and reputationally. Such mistakes might include overpaying or underpaying tax, paying employees late or incorrectly, making incorrect…

Read More

6 payroll performance metrics you need to be tracking

By | Finance, Payroll, Statutory Sick Pay | No Comments

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 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. What…

Read More
5 ways to better manage payroll in your business

5 ways to better manage payroll in your business

By | Payroll, Uncategorized | No Comments

No matter what industry you work in, managing payroll for an increasingly diverse workforce can prove difficult for even the most seasoned of payroll professionals. Staff costs are among the most expensive costs for businesses. As such, managing payroll effectively to ensure employees are paid correctly and on time is important in order to maintain morale and productivity. Payroll can be confusing. From different tax bands and rates of pay to commission payments, bonuses, sick pay and maternity pay; it’s clear that the life of a payroll manager can become increasingly stressful as a business grows and employees more staff….

Read More

4 ways payroll software will save you hours every month

By | HR Software, Payroll | No Comments

Processing payroll manually is an incredibly time-consuming process. From creating payslips and calculating deductions to answering employee queries; it’s no wonder so many businesses opt to use payroll software to help streamline processes and save hours every week. Whether you’re processing payroll manually or using a third-party payroll bureau to manage it, here are four ways payroll software will save you HOURS every month. No need for manual calculations Rather than spending hours poring over spreadsheets and manual calculations, payroll software can do in a few seconds what it would take you hours to do. This will free up your…

Read More