A guide to managing your payroll in-house

As your business continues to grow, one of the key areas you need to focus on is payroll. And with that comes a decision – do you look at managing your payroll in-house or consider outsourcing it? Each option has its pros and cons, so it’s worth looking at your business objectives before making a decision on how you will deal with your payroll processing. If you’re looking at the in-house option, there are a number of things you need to consider. When it comes to data and being compliant with the General Data Protection Regulation (GDPR), for example, if you’re dealing with your payroll in-house, you won’t need to worry about sharing confidential employee information with a third party. Meanwhile, doing your payroll in-house means you can quickly and easily make last-minute changes if required. It’s worth realising that you may need to have a dedicated payroll employee (or team) to deal with processing. Again, this comes back to your company’s goals and where payroll fits within them. To help you with this, read our guide – Managing your payroll in-house – it features details on the benefits of running payroll within your company rather than outsourcing it. There is also information on the steps you need to take to implement in-house payroll and how using the right payroll software can help you deal with payslips, automatic enrolment, RTI (Real Time Information) submissions and more. In this guide, you will find the following topics:

• The perks and challenges of business growth
• Making payroll digital
• The benefits of payroll software
• Choosing your solution

Here’s an excerpt from the guide:

The impact of growth on the payroll function

For the payroll function, putting in place structures and processes can save an enormous amount of effort later as growth increases. Before executing a plan to either keep the payroll function in-house or outsource it, it’s important that the goal of the business is at the core of the decision. This will help you to isolate how to best organise the payroll function to support the main business goals. Do you need more hands on deck in other areas of the business, including the person wearing multiple hats to manage the payroll function? Does your organisation have a dedicated staff resource for payroll management who needs more efficient tools to keep up with your growing requirements? After reading this, you will understand how these factors play into your decision and the options available for managing payroll while simultaneously growing a business. We’ll explain the benefits of managing your payroll in-house, and provide advice on how to implement. This will get you processing your payroll smarter, faster and more efficiently. For more useful advice, download your free guide – Managing your payroll in-house.