All the latest Payroll, HR and Time management industry news, keeping you up to date with policy changes and all things PayEscape.
Organisations lose millions each year due to payroll fraud. It is not only difficult to detect but is perpetrated by employees within the company. Common types of payroll fraud include inflated wages, counterfeit or “ghost” employees, and falsified expense reimbursement. Most people think crime like fraud don’t hurt anyone, but companies suffer in the short and long term from fraudulent payroll practices. So how can you reduce the risk of payroll fraud in your organisation?
Human Resources is responsible for all phases of the employee lifecycle but is also keeping teams motivated, managing appraisals and handling the day-to-day business administration. Making improvements to processes and documentation may seem like an arduous task when your team is already busy but improving efficiencies can help simplify HR admin in the long run.
Payroll is one of the most time-intensive and largest operational expenses for companies. How can you tell if it’s running as efficiently and accurately as it could be? With so many enhancements to technology and integration, it might be time to evaluate your payroll software to enhance compliance features, reduce any manual processes, and simplify operations. So where should your team start?
In recent years, there’s been significant emphasis on how businesses can improve employee experience, satisfaction, and productivity. Thanks to COVID-19, there was even more focus on employee engagement and happiness, with several employees handing their resignations in and looking elsewhere.
As year-end approaches, there have been new changes to regulations that will make payroll more complicated. Making sure you stay ahead of changes and keep track of ongoing legislation is key to payroll compliance. Each year your team should review a compliance checklist to make sure you’re ready for what’s ahead.
Legislation has been approved to increase National Insurance contributions beginning in April 2022. Class 1, Class 1A, Class 1B and Class 4 will temporarily increase by 1.25% for the 2022-2023 tax year. Individuals who only pay Class 2 or Class 3 contributions will not be affected.
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