Why Outsourcing a Payroll makes Business Sense in 2022

Every business has risks and calculations that it must make to take unprecedented situations into account, but the past 2 years have posed more challenges than most for businesses. In 2022, there are several factors that businesses will inevitably have to consider when thinking about costs and processes – so it makes business sense to be as agile and lean as possible to be able to withstand exterior pressures.

Outsourcing your payroll is one of the most effective and intelligent ways to futureproof your business and ensure that it’s in the best position possible to take on the challenges of 2022.

Inflation

Rising costs due to inflation will clearly have a knock-on effect on the costs of running a business. Every part of running a business from the supply chain to the spend on energy will be impacted by this. There’s also the impact this has on your business’ staff and as the cost of living rises, they’ll want their wages to match the changes. 

Outsourcing your payroll will not immediately solve all of these exterior issues, but it can free up time, money and resources in your business. Processing errors can happen and prove costly when you’re doing your payroll in-house and staff that need to be spending time on other issues could be using up their schedule on payroll. Outsourcing is a swift way to guarantee security, professionalism and remove costs from your business.

Covid-19

It goes without saying that Covid has been one of the most unprecedented and difficult situations businesses have ever faced. And they will still be getting to grips with new ways of working now and incurring the costs of the past two years. When you’re operating payroll in-house, there might only be a couple of people that know the processes, so sickness can impact this. If you outsource your payroll then you’re not as vulnerable to situations, such as Covid which can limit staff numbers etc.

Staffing

Due to Covid and a combination of other factors, staffing levels in a lot of businesses are struggling because of a difficulty to recruit and retain staff. Your business might also be finding it tough to attract talent and if some of your staff are taking up precious time on your payroll instead of doing other more valuable tasks then this can impact your business. Outsourcing can help to ease the burden of low employment levels.

Home Working

As businesses start reintroducing more staff back into work, there will still be some members of staff working from home, obviously this isn’t possible in all sectors, but if members of staff that are responsible for payroll are at home, then this can pose practical and security issues. Outsourcing to a professional payroll solutions provider means that data and info is secure.

If your business is interested in saving time, money and resources then get in touch with our experienced team at APS Global and we’ll be more than happy to talk through your options and the next steps for outsourcing your payroll.