Many companies looking at reducing office space could save further and make their case for future proofing payroll by outsourcing...
Many expect that the past year’s restrictions on movement and physical presence at the workplace may have a lasting effect on our high street and offices. Expensive and desirable office and retail locations are increasingly being considered an unnecessary financial burden in light of the new ways of working. The risk is further increased as it is widely acknowledged that many companies are not planning to move fully back to the office. Many companies are investigating how to work post-Covid with the view to embrace flexible working in the future, to balance home and office life. HSBC, for example, expect to reduce their property footprint by 40% due to flexible office/homeworking requiring less office space (source FT). Online meetings are now second nature for many. For time-pressured industries, the recouped time spent previously commuting is now often reinvested into the business via working from home as working hours increased during the pandemic (source The Guardian).
As many companies presently investigate space options, cost savings and working practices, this is a perfect time to measure up for future-proofing your HR and payroll via outsourcing. By allowing an established HR and payroll services provider to manage your HR and payroll offsite, your company’s space requirements are reduced even further, making instant, quantifiable financial savings. Some established companies can also offer TUPE options so payroll teams’ financial burden can be alleviated quickly. TUPE staff often find advantages in being embedded within a large growing company with development and growth potential to benefit their chosen career.
As well as payroll, digital transformation of HR can also be introduced utilising online learning and development for everyone. This approach can notably include key front-facing staff. With almost 75% of retail workers now declaring a further interest and desire to learn this way (source Personnel Today), this allows investment into personnel who may well be your next-generation industry leaders.
The time is undoubtedly perfect for outsourcing HR and payroll. The last year has been undeniably hard on many in-house payroll teams. In a recent survey, over 90% of payroll managers made an error every month last year, with 37% claiming that payroll errors diverted them from critical tasks (Personnel Today).
The case for is clear from the previous year alone. Outsourcing brings efficiencies in data compliance and legal requirements, ensures timely accurate payroll and processing due to its near fully automated processing, taps into a wealth of expertise and talent, and produces valuable reports. It also relieves the in-house stress experienced by staff, freeing up time and even office space. This approach typically results in an overall saving for the business.
As cost savings of 20-30% can be realised by first generation outsourcing payroll compared to in-house, for many businesses, ‘future-proofing’ payroll is just a matter of time.
Zalaris are a comprehensive global HR & payroll technology and services company that, for more than 20 years, have provided a first-class, global, single cloud-based HR and payroll solution. A solution that seamlessly connects all aspects of a customer’s HR and Payroll processes into one turnkey solution. Zalaris further accompany their leading technology platform with outsourced business services to manage all aspects of their customers’ HR and transactional payroll needs.
For more information about us, go to zalaris.com.
