On the 8th day of Christmas, Moore and Smalley gave to me, payroll tips so that everybody gets paid timely!
1. Do all your staff know when they get paid?
For many staff ‘pay day’ is a much looked forward to event in their diary, so ensure that expectations are met and disappointments avoided – if you pay early due to the Christmas holidays this is great to communicate to staff, but likewise if your pay dates are moved backwards ensure that communication is done early (remember your staff have their own ‘suppliers’ to consider).
2. Have you got the ‘what if’s’ covered?
What with Bank Holidays, office closures and sickness have you covered your risk areas:
– who deals with your payroll, what happens if they call in sick
– what happens if at the last minute you have IT issues and cannot run the payroll
– if you’re paying wages early how does this affect your own cashflow. What’s your backup plan?
3. How does the glut of Bank Holidays and Annual Leave affect your timetable?
In recent years the payroll function has needed to become much more disciplined in terms of Real Time Information and more recently Auto Enrolment. This has led to more regimental timetables in the payroll process and inevitably the higher risk of missing and deadline (and incurring penalties). Have you checked how your payroll timetable if affected over the Christmas season and have you got your deadlines covered?
4. Is your staff handbook up to date with policies and procedures
Christmas is a time of happiness and joy, but can also be a period of sickness and absence. When was the last time you checked your staff handbook covered all possibilities, policies, and procedures?
5. New Year – time for a fresh look
As we mentioned, payroll has gone through a high level of change in recent years, is 2017 a time to look again at your payroll process, assess risk, look for efficiencies, streamline:
– is the payroll process well documented in the event of ‘disaster’
– does the payroll process work for the employer and employee, what could be done better
– has technology moved on but your payroll process hasn’t, ie spreadsheets vs manual records, email vs fax, e-payslips vs hard copies
– is outsourcing an option to reduce risk, create efficiency and give you valuable time back into your business
If you would like support with any of the above please contact Tracey Simpson, on 01772 821021.