There are bosses who struggle to delegate. They even want to open the post in case they miss something. At one level it gives them a complete view of the business. At another it may be to the detriment of the business functioning effectively because there are only so many hours in the day for development and expansion. That is the current priority as the economy begins to grow for the first time in years. You are in a competitive environment.
Everyone needs help running a business. It may be a personal assistant and most certainly it will be financial expertise. If you find it hard to delegate it may be your accountant upon whom you rely the most. Even entrepreneurs who have developed their businesses on natural talent and instinct need to comply with the statutory responsibilities to Her Majesty’s Revenue and Customs (HMRC).
If you are in the recruitment business then one of the most important aspects of your business is your payroll. You can do it yourself but then the time taken for preparation and processing and for compliance with HMRC requirements is time that you cannot spend talking to your clients and seeking out new business. There is a window of opportunity at present as business optimism is rising and job vacancies increasing. You will not be alone in having had a few years of relative stagnation. Now is not the time for administrative work that can be done by real experts as long as they have the necessary basic information for processing. Payroll outsourcing creates the time for you to grasp that opportunity.
If you look on http://www.payrollsimply.co.uk/ you will get an idea of the services that you can engage and the expertise that will work for you. Any company that has built up a solid reputation with its clients can guarantee complete discretion and confidentiality. The service is complete. It involves ensuring that the payroll is run in line with current legislation and that every worker receives their money into their bank accounts on the due date. An email that is password protected will inform each employee of the details of their pay.
Create development time
At the same time paperwork will be raised for HMRC and the monies due sent at the appropriate time. The question is, whether the service is cost effective. It will certainly be far more cost effective than actually employing a wages clerk and it will operate 52 weeks a year with no holidays that staff require. If the service is simply creating more time for you, you should not just think about the time that you actually use processing but you should include the time you need keeping up to date with legislation and answering queries. That is time you could be putting to better use developing your business.