Category

Statutory Sick Pay

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…

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What is furlough

What is furlough and how does it work? A guide for employers

By | Employee Management, Statutory Sick Pay | No Comments

A word that very rarely graced our daily office chatter before March 2020, but the concept of ‘furlough’ is now one that is very present in the minds of the UK’s workforce. Announced by the Chancellor as part of the government’s response to the COVID-19 pandemic, the Coronavirus Job Retention Scheme was designed to minimise the threat of mass redundancies across the country and adversely affecting economic performance as business slows or comes to a grinding halt altogether. Employees may be furloughed due to a slowdown in operations or simply because there is no work for them to do due…

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Budget 2020: What does it mean for HR and payroll teams?

Budget 2020: What does it mean for HR and payroll teams?

By | Employment Law, News, Statutory Sick Pay | No Comments

Earlier this week, Chancellor Rishi Sunak announced a number of initiatives, funding and plans for the UK economy. Taking place against a backdrop of both the COVID-19 outbreak and Brexit; the government’s plans to ‘level up’ the British economy were outlined. This week’s Budget includes a number of ‘fiscal stimuli’ that include support for businesses throughout the coronavirus outbreak, increases to the National Living Wage and changes to the National Insurance Contribution thresholds. But there are significant announcements from this week’s Budget that will directly impact HR and payroll departments across the country. Statutory Sick Pay entitlement for self-isolating staff…

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How to calculate Statutory Sick Pay (SSP) entitlement

How to calculate Statutory Sick Pay (SSP) entitlement

By | Payroll, Statutory Sick Pay | No Comments

Also known by its acronym SSP, Statutory Sick Pay is the legal minimum that employees are entitled to when they are off sick from work. Paid by employers, Statutory Sick Pay kicks in when an employee is off sick for more than four days in a row. In order for an employee to qualify for SSP, an individual must be classed as an employee at your business, have been ill for four days in a row (including non-working days), earn an average of at least £118 per week and they must inform you as their employer that they’re sick before…

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