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I’m sure I am not surprising anyone if I say that recruitment, particularly contract and temp, can be a pretty ‘interesting’ space to be in at times because it’s a fast-moving business that sometimes feels like it changes with the weather. It is legislation heavy, compliance-driven, and you need to have an attention to detail and process that is second to none. The work is hard, often frustrating and, here’s the best part, you get to do it all on thin profit margins. Since a significant commitment to your processes revolves around payroll and compliance, efficiency is vital to a strong recruitment business.
At the risk of stating the obvious, some of the advantages of efficiency-driven payroll technology solutions are quite clear. As a minimum, you would expect payroll technology to:
Regardless of whether a system is cloud or server-driven, it is reasonable to expect that these core functions are performed. Where we often find server-based systems are outdated is the efficiency with which they perform these functions. It goes without saying, of course, that in other areas, such as updating and security, a cloud-based payroll system scores over the older, more pedestrian server setups.
A good payroll solution should meet the basic needs in the list above and go a step further. It should also:
In recruitment, your payroll is part of your brand. It only takes a few payroll errors and a few disgruntled reviews or comments on the internet to devalue a business’s reputation. As a result, in a competitive market like recruitment, the importance of brand visibility cannot be underestimated. When you are confident in your payroll and compliance, you can rest easy knowing it is supporting your brand reputation. More than that, though, it will be supporting your profitability.
We have ways of describing things that sort of drift out of use over time. One of these is the term labour-saving device. It’s a shame because labour-saving perfectly describes the actual purpose of most technology. When you choose a payroll solution, you should be looking for it to service your business in a way that saves labour. Less labour to run means less demand on your team’s time.
In the recruitment space, your payroll and compliance are not something that you can look at as a ‘necessary function’. They are far more than just an electronic way of duplicating the payroll process. A good, cloud-based back office will do far more than that. It will be secure, constantly up to date, part of your brand, integrated with the necessary HMRC and other external systems, and, of course, incredibly reliable – but backed up, ready to restore in the unlikely event of something going wrong. On top of that, it needs to be all these things as efficiently as possible – because that impacts directly on your finances.
The bottom line is that efficiency in your payroll technology translates directly to more profit and less expenditure.
Call us for more information, and we will be happy to chat through what you need and see how we can help.