When you employee a lot of staff, or even a small team, it’s easy to assume that everyone understands all of the information included in their payslip. However, your employees can be from all sorts of different backgrounds or situations that might mean they won’t be entirely confident with their payslip; new graduates who have never worked before, older people coming back into the workforce, new arrivals to the UK etc.
It’s important for employees to understand their payslip, so they can check the tax and other deductions, notice if there are any problems or discrepancies and you can communicate the benefits of their employment package.
Going through the basic information that a payslip contains is a good starting-point for employees – elements such as gross pay, net pay, personal information, payroll number, tax code, National Insurance (NI) number should all be explained and pointed out.
Time to Explain
The perfect time to explain payslip information is when employees are starting at your company. If people are already going through onboarding processes, such as induction training then they will be taking on other information and in a learning frame of mind. This allows you to cover any benefits and additional pay information such as bonuses and commission too.
Depending what industry your business is in, you might have employees that have very different working patterns to each other, unpredictable shifts and the opportunity to work overtime. It’s important that your employees know how their pay is calculated, especially if they are paid at different rates according to the hours worked, which may frequently change.
Deductions should be broken down for employees, such as National Insurance payments, income tax, student loan repayments and pension contributions. The pension contributions allow you to explain what benefits your company offers to employees.
Working with a payroll solutions team or using payroll software can allow you to customise payroll slips so they cover the unique requirements of your business. This can be including specific payment periods, piece payments and additions or deductions. This means that your payslips for employees are easier for them to understand and simple to explain.
Access to Payslips
It’s useful for employees to be able to access their payslips and have an easy way to see them whenever they need to, archive old payslips and have a record of them going back to their starting date for mortgages, financial support etc, so digital payslips are a necessity in a modern workplace. They’re also great for your company’s sustainability work and employees don’t have to print them off each time they need them.
Here at APS Global we can help you with all of your payroll needs, which include your business’ unique requirements when it comes to payslips and ensuring we provide the most cost-effective payroll solutions. We know that every business is different which is why we build flexibility into our offering and can find the best solutions for your business.
Contact our team today to talk about the options open to your business and how we can help.