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When is it time to use payroll software in my recruiting agency?

When you start your new recruitment agency and there’s only two of you banging the phones in your mates spare bedroom, you probably don’t need to worry about a payroll software system. But get any bigger than that, and in recruitment we all know growth happens fast, and a payroll system will be the thing that saves your life, saves you time and ultimately, saves you from hefty HMRC fines.

But in case you’ve started to grow and you’re still unsure if you should be using a pay and bill system, here’s some things that will indicate it’s time to implement new software:

  • If you’re spending hours every month on payroll, then it’s definitely time to start looking for someone else to do it. This might be outsourcing it to another company or buying payroll software that can do it for you. Some agencies often think the answer is to hire another person to help do it, but in the long run it will cost more money and leave more room for human error. Your time is the one thing you’ll never get back and is precious, especially when you could be spending that time growing your business.

  • If you’re hiring contractors, then your payroll obligations will go up massively, and your workload double. Some contractors are even paid weekly, depending on industry, which means you might be spending up to a day a week ensuring payroll is done, and no one has that kind of spare time.

Posted 19/03/2018

  • If you find yourself making mistakes, definitely ditch the manual labour and trust in some software that won’t make errors. Billions of pounds are paid out every year in fines and penalties for mistakes with employment taxes, as well as the time spent fixing mistakes, not to mention the stress. It also leads to unhappy staff and contractors that will affect your business relationships. Payroll software can help you avoid these things by automating tasks as well as updating you on legislation, and sending you notifications for upcoming deadlines.

  • If your finance team are overworked, the answer isn’t always to hire another person, and nor is that necessarily the most cost-effective solution. Choosing the right pay and bill software will dramatically change your finance department, giving them more time and energy back. It will also allow them to collaborate across the system at the same time, instead of single staff members working on spreadsheets that become locked and unusable.

  • If you’re worrying about security, it’s time to look at payroll software. Most providers have increased security checks and measures to keep confidential information protected and secure from hacks or data breeches. The added stress of security is not something your teams should be worrying about.

  • If you’re dealing with constant changes, it can get difficult to keep track and the software you choose should do this for you. Employee rates are subject to change and it can cause hiccups in your monthly payroll, as well as be difficult to keep track of. Not to mention changing legislation and new laws that can creep in without your notice. Letting a system do this for you to keep you updated is one less worry of your mind.

Your payroll software is essentially another arm of your business that will handle the stress, worry, and potential fines that can creep up with the dreaded monthly payroll. Payroll is never an easy task, but with the right software it’s not something you should ever be worrying about.

Find out more about our pay and bill software or if you have any questions contact [email protected] about your business needs.