Four ways your business will benefit from outsourced payroll
2020 will undoubtedly go down in history as one of the toughest years for businesses in living memory. Chances are, the unpredictable and rapid changes of the past six months have left your team struggling to cope, with fewer people trying to do the same amount of work and increasing pressures on internal resources.
Your payroll team – those dedicated humans who ensure everyone gets paid accurately and on time – are not immune to the pressures of Covid-19. In fact, everything from navigating JobKeeper to reinstating employees who have been stood down adds a new layer of complexity to payroll practices. With businesses more under-resourced than ever, it’s completely understandable if you need to seek help from outside your business.
After all, now is not the time to overlook the importance of accurate payroll processing. Payroll requires specialist knowledge, can be quite intricate work, and businesses who get it wrong risk hefty fines or even criminal charges. Many businesses are turning to outsourced payroll services to take the pressure off their in-house team and lend a helping hand when it comes to payroll processing.
Business functions like marketing, customer service and logistics are increasingly outsourced, so why shouldn’t your payroll also be outsourced to experts? Let’s take a look at four ways your business will benefit from Roubler’s managed payroll services.
Navigate the payroll labyrinth
It’s all too easy to take a wrong turn in the labyrinth that is payroll. The complexities of tax, JobKeeper, overtime, superannuation, PAYG withholding and penalty rates, intertwine to create an incredibly complex system. What’s more, if your business operates across several states or countries, the amount of knowledge you need in-house to undertake payroll increases exponentially.
Navigating through this maze is something that is best left to the experts. Highly-trained professionals have the knowledge your business needs to avoid the pitfalls of payroll, ensuring your staff are paid accurately and on time, every time.
Stay on top of award compliance
Staying compliant with payroll legislation and modern awards can be difficult, with misinterpretations causing serious miscalculations. With changes to awards and legislation happening fairly regularly, even the most well-meaning businesses can be left wide open to wage theft.
The complexity built into modern awards doesn’t help either – with 122 awards across various industries, all with detailed rules and clauses that businesses need to understand and abide by to avoid financial consequences. This alone is reason to leave it to the experts, who are regularly notified of all these changes and stay on top of the compliance interpretations.
All too often, businesses are fined (up to millions of dollars) for processing payroll inaccurately, even if they have done so accidentally. The last thing your business needs, especially during an already tumultuous year, is an unnecessary, costly fine. Don’t risk it.
Save time and money
Another well-appreciated benefit of outsourcing your payroll is that you’ll almost immediately save your business time and money. Hiring, training, and onboarding an in-house team is costly, not to mention all the additional overheads involved.
With outsourced experts, you can rest assured that your payroll is in capable hands. Roubler’s payroll team works fast, knows all the tricks of the trade, and will process your payroll with a high degree of accuracy. You can then redirect cost savings into focusing on your Covid-19 recovery strategy.
Enjoy peace of mind
Finding the right outsourced specialists can be difficult. Rest assured that Roubler’s outsourced payroll team has the expertise to keep your payroll processes running smoothly on time, every time.
Our team is based in Australia, and understands your unique business needs, ensuring the transition is seamless and secure as you take the pressure off your in-house team. Backed by the best in payroll and workforce technology, you’ll have access to powerful reporting and analytics of all your payroll data to gain insightful productivity metrics.