Staying Ahead of New Payroll Regulations
As of 1 August, employers will be required to begin contributing to National Insurance and pension contributions for furloughed employees. This will increase expenses for employers but will also make payroll more complicated from an administrative perspective. Helping your payroll and HR teams stay ahead of new regulations is now more important than ever.
With the increase in expenses, employers are going to have to balance getting employees back to work, while also providing a safe work environment. Depending on the business, this creates additional challenges for employers and employees. Using automated processes to manage certain aspects of the business will be the key to getting vital business functions back up and running.
Payroll and HR admin are 2 key areas of the business that can thrive and be more successful using technology. Advancements in integration allow teams to share employee payroll and HR data in one system and provide self-service platforms so employees can manage their own personal information and make updates if necessary. Self-service portals also help payroll and HR teams reduce manual entry errors and additional work.
Using technology to stay ahead of payroll changes helps your business ensure compliance with evolving regulations, reduce time spent on manual processes, and allows you to focus on your business instead of the paperwork. Talk to us about simplifying payroll and HR with our easy-to-use technology and CIPP-certified team.