5 ways outsourcing payroll can help you

Blog Author:

Graeme

Post Date:

26 July 2022

When you start a business, you’re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more employees. Before you know it, what was once a very straightforward task becomes a giant undertaking that’s sucking up most of your time.

This is when it makes sense to outsource your payroll. While this is yet another cost to consider, it’s actually a great idea that easily pays for itself. Here are the ways outsourcing your payroll can help you:

1. Free up your time

In any small business, there is a lot of legwork that comes with running payroll. The percentage of time spent on it is quite large compared to the other aspects of your business. This is because it’s a complex task that needs to be done every single week – forever. You may feel that payroll is never done and that’s because it truly never is.

Outsourcing your payroll is one of the easiest ways to free up more of your time, which can then be put into other tasks that actually help your business thrive. Once you reclaim this huge chunk of time, you’ll wish you made the switch sooner.

2. Reduce errors

Yes, there are the actual hours worked that you need to account for. That’s complicated enough. But add in sick days, holiday pay, other types of leave, employees leaving early or arriving late, and other complications, and suddenly your payroll has become a daunting task that you would probably rather just ignore.

This is where the beauty of outsourced payroll comes in. Because you are paying a professional to worry about all of these little things, you no longer have to worry about all of the potential areas where you could make a mistake.

And the thing about a payroll mistake is that it typically takes even more time and energy to fix. Not to mention, you likely now have to assuage a disgruntled employee.

With outsourced payroll, this mammoth task is simply done for you, and done correctly. Every single time. And that’s good for you and good for your employees.

3. Reduce costs

While you may initially balk at the cost of outsourcing your payroll, it’s actually a money-saver. When you put a dollar amount on all of the time you spend struggling through, this is often enough in itself to pay for a pro to take it off your hands.

Not to mention, the cost of fines and penalties that can arise from mistakes. If you find yourself having to cough up money in these circumstances, you’ll wish you outsourced your payroll sooner.

4. Maintain compliance

We can’t all be tax or finance professionals. Chances are, if you’re running a business, you have an entirely different industry on your mind most of the time. So, it makes sense to hire someone who’s in the business of payroll to look after this for you.

Maintaining compliance with your region’s tax authorities is a challenge that has to be met every year. And tax laws and codes are always changing. The average person can’t be expected to stay on top of all of this information, so why not get someone who knows the ropes to take care of it for you? It could save you a lot of money come tax time.

5. Eliminate headaches

There is nothing more valuable than the feeling of being stress-free. When you hire a payroll professional, you can relax knowing that your business is in good hands, that your employees are getting paid correctly and on time, and that you’re doing everything right.

Final Thoughts

There are a lot of reasons why outsourcing your payroll just makes sense. By letting go of this time-consuming, finicky task, you will likely find that you’re enjoying your business more. Not only that, but you’ll be able to put your energies into other things, meaning your business is likely to grow.

Interested to find out more?

Call us on 01617 985789

Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb

Other News

10 June 2024

How to build your business (not your workload)

You all want your firms to thrive, don’t you? It can be a right handful sometimes, you know the feeling. You want to see it grow, not leave you feeling like you’ve been chasing your tail all day.

The key is taking control of your time, use it like a bag of gold. Here’s a few tips on how to do that…

  • Invest in the right practice management tools

Let’s talk about simplifying your operations to get things running a bit smoother. We’re looking to identify any problems in your current processes, there’s always room for improvement.

On that note, one of the best ways to increase productivity is to invest in some decent practice management tools. We’re talking software that’ll make dealing with clients, working as a team, keeping track of jobs, and the day-to-day grind a whole lot easier.

  • Prioritise high-value work

To stop spending so much time faffing about, start prioritising effectively. Use the Urgent Important Matrix to do this.

Group your tasks into 4 quadrants:

  • Q1: Urgent and important – these are emergencies that arise (e.g. missed deadlines, client complaints, technical failures, pressing problems etc).
  • Q2: Important but not urgent – these are the tasks you need to do to grow your business (e.g. goal setting, growth planning, networking, self-development, business development etc).
  • Q3: Urgent but not important – these tend to be interruptions that take up the majority of your time (e.g. phones, texts, emails, unproductive meetings and reports etc).
  • Q4: Not urgent and not important – these are distractions that cause you to procrastinate and have no value to your business (e.g. personal phone calls, social media, excessive or irrelevant emails etc).

Once you’ve grouped your tasks, you’ll know what you need to focus on and what you need to avoid.

  • Delegate low-value work

Now you have identified tasks that need to be done, delegate the low-value work to your team so that you can focus on the ones that require your level of skill.

If you delegate effectively (i.e. delegating authority as well as tasks), you can take a step back knowing the day-to-day stuff is running smoothly. This frees you up to focus on the real game-changers, the things that’ll make the firm grow.

  • Schedule time in the diary for business development activities

You need to invest more time in quadrant 2, doing the planning and budgeting and development activities that will grow your firm. It’s easy to forget things in the daily grind, chaps. Schedule those important jobs – it’s the best way to ensure they get done.

If you prioritise these tasks and appoint the rest, you’ll have time tosit down with a cuppa, and focus on them. You just need to find the days and times where you can work productively and without any interruptions.

Build your business

It really is as simple as that. To build your business, not your workload, you need to follow these 4 steps. When you do these consistently, you’ll find that each day follows a more chilled approach:

  1. DO – those important tasks that need to be done today.
  2. SCHEDULE – the important but not so urgent tasks, so that they will get done.
  3. DELEGATE – the urgent but not so important tasks.
  4. AVOID – the non-urgent, non-important tasks.

Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb

24 May 2024

How to recover from career burnout

Alright, career burnout. It’s no mystery, is it? It’s when you’ve worked yourself into the ground at your job. You graft away until there’s nothing left in the tank. Like a faulty kettle, you can’t even manage a flick of the switch to make a cuppa, never mind a whole day’s work. All you’re left with is a strong feeling of “can’t be bothered” and the desire to throw in the towel.

The dreaded burnout looks a bit like this…

  • Feeling constantly tired and drained.
  • A lack of enthusiasm and motivation for anything.
  • Anxiety and worrying about everything.
  • Insomnia, loss of appetite, and depression
  • A loss of confidence in yourself.
  • Getting sick more often and for longer.

Why does it happen?

Career burnout can happen for several reasons. Here’s the long and short of why you might be feeling like you’re going through the motions at work:

  • It’s not the job for you anymore: You’re stuck in a role that’s about as exciting as watching paint dry. No sense of purpose, just going through the motions.
  • Lost your mojo: Remember when you first started? Buzzing with ideas and raring to go? Now, all you feel is a big fat “meh”.
  • Stuck in a rut: Same old job, same old people, same old problems. You feel like a hamster on a wheel, going nowhere fast.
  • Company culture makes you want to stuck your head in the sand: You don’t fit with the people you work fit? It really makes coming to work a proper nightmare.
  • The pandemic played havoc: Let’s be honest, the whole thing was a right mess! Made a lot of us re-evaluate our lives and jobs. And if not us, our families have and push these beliefs our way. No wonder some of us are feeling a bit worse for wear.

How to recover from burnout

If you suspect you’re experiencing burnout, don’t just grin and bear it. See it as a chance to get to the bottom of things. Once you figure out why, you can make some proper changes that will get you back on your feet. Here’s a few things to get you started:

  1. Identify the cause of your burnout – what’s the culprit? Does the job itself feel like a waste of time, or maybe it’s the people you work with? Does the job give you that buzz? Fit in with your life? Take a look at potential external factors too.
  2. Start making changes – Get a pen and paper, make a list, or use a fancy online tool like these youngsters do these days. Is an entirely new career on the cards? Is there potential to work flexibly to enable a balance in your priorities?
  3. Look after yourself – It’s just looking after yourself so you don’t fall apart at the seams. Like a trusty van, you need regular maintenance, you see. That means getting some decent kip, proper grub, and a good dose of fresh air (with the furry fella, in my case!).

3 magic steps

Right, that’s that sorted.

Don’t mess about with burnout any longer, you’ll end up feeling rotten. Figure out what’s nicked your joy at work, don’t be scared about changing things up, and always take care of yourself. Change might seem like a right palaver, but in this case, it’s for the best. You’ll be feeling as good as new again in no time!

Interested to find out more?

Call us on 01617 985789

Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb

25 March 2024

How Encouraging Employee Self-Care Can Boost Your Business

Look, I’m a bloke who’s been in and around construction for the last 30+ years. We blokes don’t talk about this ‘feelings’ stuff. This is why the biggest killer of men under 50 is suicide – sobering thought that. I’m not saying we need to become all snowflaky and wet behind the ears, but as the saying goes, it’s good to talk. You’ve got a duty of care to the lads (I’m guessing it’s nearly all lads) on your sites and your employees in the office. Banter can cover up for many a troubled soul.

What is Self-Care?

Let’s first go to the dictionary and ask the experts. Self-care encompasses everything related to maintaining physical health, including hygiene, nutrition, and seeking medical care when needed. It’s a decision-making process empowering individuals to look after their health efficiently and conveniently, often in collaboration with health professionals.

Got that?

At a simple level, this is about helping your staff come to work and be happy, safe and healthy. But also to recognise they may bring their woes from home to work.

Sure, you see your business as your baby, but as the saying goes ‘it takes a village’. And to keep your business booming, you need to make sure your employees are healthy and happy, so they can stay on their A game.

Types of Self-Care

Let’s break this down into the different types of self-care.

Emotional Self-Care: Involves practices like positive self-talk, taking regular breaks, and maintaining social connections. As business owners, you’re sure to have experienced your fair share of burnout. It’s all about not letting your employees head down the same road. A simple ‘you alright, mate?’ may be enough to spot someone struggling.

Physical Self-Care: Such as, prioritising sleep, regular exercise, and choosing nutritious foods. Don’t look at me like I’m a fine one to talk. My body has been defined by some of the best food that Manchester can offer! Just ignore my office’s favourite bowl of special chocolate… that’s all about helping our clients’ emotional health when they visit.

Spiritual Self-Care: Work with me on this one. This may sound a little woo-hoo to you. But what works for others may not be your thing. Such as attending religious services, taking religious holidays off, spending time in nature, meditation, and keeping a gratitude journal.

Self-care involves making healthy lifestyle choices, responsibly using medicines – including the caffeine-laden and energy-type drinks, recognising symptoms, self-monitoring, and self-management of health conditions. But sometimes it’s not so easy to spot these dips in mental health by yourself. Believe me, my business coach is the first to tell me if I’m trying to overcommit. So, you need to open up the conversation with your employees as well.

Why Self-Care is Important

Stress and burnout are rampant. Average ratings of personal well-being in the UK have declined across all measures in the year ending March 2023. I’m sure we have personal stories to tell of how our mental health or people around us suffered during and after the COVID-19 years.

Similarly, older research commissioned by Mind found that 57% of the people surveyed drank alcohol after work to cope with stress. In addition to this, 28% said they smoked cigarettes, 16% took prescribed sleeping aids, and 15% took antidepressants. And yes, as a regular vaper, I know I am part of those statistics, but don’t judge me!

Self-care mitigates these issues, enhancing mental and physical health, reducing illness risks, and boosting energy.

We need to look after ourselves first! Without that, our work is sure to suffer.

How Improving Your Employee’s Self-Care Can Boost Your Business

Investing in your employees’ self-care isn’t just beneficial for them; it’s a strategic move that can significantly boost your business in various ways:

Enhanced Productivity

Employees practising self-care are more likely to be mentally and physically rejuvenated, leading to higher productivity. After all, your on-site employees are often doing a hard physical job for you. They need all the energy and strength they can get. Regular self-care reduces fatigue, enhances concentration, and fosters a more energetic and efficient workforce.

Better Retention and Recruitment

A culture that prioritises self-care attracts top talent and retains them. Employees are likelier to stay with a company that values their well-being, reducing turnover costs and enhancing its reputation as a desirable workplace.

Reduced Burnout

Burnout is a major cause of reduced productivity and increased absenteeism. Encouraging self-care reduces the risk of burnout, ensuring that your team remains motivated and engaged.

Positive Work Culture

A workplace that promotes self-care is often characterised by positivity and higher morale. This environment fosters collaboration, creativity, and community, enhancing the work atmosphere.

Increased Employee Engagement

When employees feel cared for, their loyalty and engagement increase. This heightened engagement leads to better customer service, enhanced team collaboration, and a stronger commitment to the company’s goals.

Decreased Turnover Rates

Replacing employees is expensive. Fostering an environment of self-care can significantly reduce turnover, saving the company substantial recruitment and training costs.

Innovation and Creativity

Well-rested and mentally healthy employees are more likely to think creatively and propose innovative solutions, driving the business forward.

Better Decision Making

Employees who engage in self-care have clearer minds and are better equipped to make sound, strategic decisions, which is crucial for the growth and success of any business.

Enhanced Company Image

A company that promotes self-care and employee well-being enhances its brand image, making it more attractive to potential clients and partners who value corporate responsibility.

Resilience in Challenging Times

Employees who regularly practice self-care are more resilient during stressful periods, such as economic downturns or organisational changes, ensuring business continuity and stability.

Fostering a Sense of Belonging

Employees feel valued and important when a company takes active steps to encourage self-care. This sense of belonging can foster a strong, united workforce aligned with the company’s mission and values.

By integrating self-care into your business culture, you not only enhance the well-being of your employees but also set up your business for long-term success. In today’s fast-paced and stressful business environment, a strategy that includes employee self-care is not just beneficial; it’s essential.

How to Encourage Employee Self-Care

We’ve all been there, haven’t we? Burnt the midnight oil, pushed like a donkey up a hill, and forgotten to fill our own tank in the process. Well, that’s where self-care comes in. Fostering a culture of self-care in the workplace is crucial for both employee well-being and organisational success.

  1. Educate Employees on Self-Care

Teach all employees about self-care practices and their significance. By organising workshops and distributing informative materials, the staff gains essential knowledge. This approach means a well-informed workforce is better equipped to manage their health, enhancing overall productivity and morale.

  1. Make Flexible Working an Option

Introduce flexible working schedules to help balance professional and personal life. Allowing employees to adjust their work hours fosters an environment where stress is minimised and optimises work-life balance, resulting in a more engaged and efficient team.

  1. Provide Mental Health Resources

Offer mental health resources, such as counselling services and app subscriptions. This commitment to mental health support signifies that the organisation values its employees’ well-being. Staff members feel supported and valued, increasing job satisfaction and engagement.

  1. Offer Stress and Time Management Learning Opportunities

Providing training for effective stress and time management equips employees with critical skills. This initiative ensures that staff can better manage workplace pressures, contributing positively to the organisation’s efficiency and reducing burnout.

  1. Establish Work Hours

Clearly defining work hours helps employees distinguish between work and personal time. This means that employees can fully disengage from work after hours, leading to increased focus and productivity during working hours.

  1. Prioritise Mentoring

Implement mentoring programs for personalised guidance in self-care. This approach supports individual development and strengthens the team dynamic, leading to a more cohesive and supportive work environment.

  1. Lead by Example

When leaders practice self-care, they set a positive example within the organisation. This leadership style fosters a culture where self-care is valued and practised, ensuring employees feel encouraged to prioritise their well-being.

Don’t Forget About Your Self-Care

Don’t forget about yourself in all this! You can’t pour from an empty cut, can you? So, taking care of yourself isn’t a luxury, it’s essential. This means ditching the all-nighters, fuelling yourself with proper grub, and finding ways to unwind. Burnout is a nasty bugger, and it’ll sink your ship faster than a leaky bucket.

Here’s the bottom line: A happy boss makes for a happy crew, and a happy crew makes for a successful business. It’s all connected. Look after your lot, and they’ll look after the business. It’s a win-win, see?

Interested to find out more?

Call us on 01617 985789

Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb

 

Share