How many people are trained to manage your payroll-

How many people are trained to manage your payroll?

A small to medium sized enterprise (SME) can consist of up to 250 employees, with the vast majority falling into the ‘small’ category, which implies that there is just between one and forty nine people on their payroll. At this level, managing HR and payroll becomes a question of logistics – delivering an accurate, efficient service with a minimum outlay. Many businesses of this size will have just one or two employees in place to manage the regular payments to staff and deal with tax issues, personal problems and sicknesses.

This situation, however, can present a difficulty when the trained members of staff are themselves sick or on holiday. Research has shown that a high proportion of employees would experience financial difficulties should their pay arrive just a few days late mbt shoes clearance , and delayed or inaccurate tax submissions bring heavy penalties. Payroll is one sector of your business that absolutely must not be delayed, and as business owner, the responsibility will fall on you to ensure that the process continues as normal.

The difficulty arises from the level of training needed to maintain an efficient HR and payroll service. To be sufficiently prepared for the absence of your HR and payroll staff, you, or extra employees, will need to be continually up to date with complex tax and employment legislation, and the latest version of the payroll computer systems.

The alternative is to discuss your needs with a payroll company with every member of staff up to date with this specialist knowledge. Payroll solutions exist for enterprises of all sizes and here at Moorepay we specialise in helping SMEs meet their payroll needs so you can rely on us to provide a solution to fit your budget. And it is worth remembering that once you employ 10 or more people, the time saved by outsourcing your payroll is worth far more than the cost.