What's your Payroll Maturity?

With the number of UK workers on a payroll reaching a record high in 2022 and the cost of living crisis continuing, managing payroll securely and cost effectively should be a primary focus for all organisations this year.

With that in mind, we’ve pulled together six quick questions in our short quiz to help you discover whether your current payroll solution is working for your business - and tips for what you can do if it isn’t. If you'd like to discuss your payroll solution, why not book a payroll consultation with one of our in-house specialists?

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* What's your name?

Name

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* 1. Who currently manages your payroll process?

We outsource payroll to a third party supplier.

Our HR or Finance team looks after payroll as part of their wider responsibilities.

We have a fully staffed internal payroll team.

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* 2. Has your business considered whether it could potentially save costs on payroll?

We don't really have time to review business functions like payroll.

It's on our list of things to do but we haven't got around to it yet.

We regularly audit our payroll processes to see where they can be optimised.

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* 3. Have you experienced any issues with payroll in the past?

Sometimes, though most of the time it seems fine.

Our entire payroll process runs like clockwork and we've never had any issues.

Yes, there are often inaccuracies and errors that lead to employee queries and complaints.

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* 4. How comfortable do you feel with the compliance side of payroll?

We have audit processes in place to ensure we’re always up to date on the latest HMRC and GDPR guidelines and payroll legislation.

I have no idea whether we are fully compliant or not.

We know compliance is important but our team is usually too busy running pay cycles to stay on the pulse of new regulations.

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* 5. Are you aware of how much it would cost to outsource payroll versus keeping it in-house?

No idea, it’s not something we’ve ever looked into.

We have a ballpark idea but not 100% sure about today’s cost comparison.

Yes, we’ve previously taken both approaches so we know which works best for our business.

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* 6. Is there a chance that outsourcing payroll to a more reliable service would save time and/or make your payroll more efficient?

Maybe, though we’d have to look into it.

No, our current approach to payroll works well for us right now.

Probably, we’ve just learned to live with our current approach because it’s what we’ve always done.