Payroll Outsourcing – How Much Does it Cost? - Just Global Payroll Payroll Outsourcing – How Much Does it Cost? - Just Global Payroll

Payroll Outsourcing – How Much Does it Cost?

Apr 2720

Posted in Outsourcing

Let’s cut to the chase: how much does it cost to outsource your payroll to Just Payroll? And how does that compare to the cost of keeping things in-house?

How much does outsourcing payroll cost?

With Just Payroll you can outsource your payroll from just £2.50 per person, with a minimum monthly charge of £25 for very small companies.

From £2.50 per month?

Yes. That’s the price you’ll pay for our standard managed monthly payroll service for a large payroll. For a weekly payroll up to 3 employees you will pay our lowest fees of £25 per period.

The per person cost will be a little higher for other payrolls.

You can add other services to your package too for a small additional per person fee. These include electronic payslips, HR services, international payroll management, time and attendance systems and more.

If you’re unsure what you need, talk to us about building a tailored package.

Will you set my system up for me?

Yes. We know that for lots of people even the thought of switching systems gives them a headache. But we’ve done this hundreds of times with businesses of all shapes and sizes. No matter how ‘quirky’ your current payroll processes, and no matter how legacy your IT system, we’ll be able to make outsourcing simple.

Is it cheaper to outsource my payroll?

Outsourcing is almost always cheaper than keeping your payroll in-house. That can be true with even a simple cost comparison. But it’s even more emphatically the case when you factor in some of the other costs hidden in processing your payroll in-house.

Basic costs: There’s a simple calculation to make here. Who’s currently processing your payroll and how much are you paying them? Even using that most simple of comparisons, you may find the cost of outsourcing is less than the cost of paying a person (or a team) to do it in-house.

Software costs: Run your payroll in house and you’ll need software to help. That will mean paying for the cost of a licence. Outsource, and the software cost is included.

Accuracy: There’s a £ value to accuracy. Every error costs time and money to put right. So the better the accuracy, the lower the cost. That low cost is factored into the price you pay in an outsourced arrangement.

It’s based on the fact that, by making payroll our speciality, our dedicated training, processing and checking systems weed out more errors than in-house systems. And if we do make a mistake, we bear the cost.

Risk: Legislation changes continually. From simple annual tax codes, minimum wage and benefit in kind amendments, to big sweeping overhauls such as pensions auto-enrolment and off-payroll working, it’s essential to stay on top of it all.

That’s not always easy for small in-house teams because invariably there are other duties on their plates, making it easier for changes to be missed. When these errors come to light it can cost time and money to investigate and put them right. Worse still, you may face stiff penalties for missing deadlines or making errors.

Outsourcing payroll removes virtually all risk of facing fines for non-compliance. And in the extremely rare event that we do miss something, you’ll be covered.

Business continuity: In our experience, in house payroll people have a wealth of knowledge, but great parts of it are stored in their head. Even nominated deputies often aren’t updated on every change. If a key member of the payroll team goes sick, or if there’s a payroll problem whilst they’re on holiday, the business faces an often costly panic to put things right.

Outsourcing removes that source of risk  and cost.

Robust IT: IT outages can prove costly in a variety of ways. We wouldn’t claim to be immune from potential power or internet issues, but we do have multiple backups in place to ensure we can maintain business as usual in most scenarios. In our experience, few in-house systems are as robust.

Cost savings through technology: If you’ve been managing your payroll in-house for some years, the chances are there are major efficiencies to be found by outsourcing. From harnessing the latest technology to ditching paper payslips, we can often find savings across the process.

Add them all up, and the costs of outsourcing your payroll can be a fraction of the direct and indirect costs of keeping things on site. And cost is far from the only benefit.

To find out how much you could save – and the many other ways we could help make life easier, talk to us.