Are you Getting Ready for the New School Year?
With September just round the corner, this means a brand new academic year is also on the horizon. One thing that many schools battle with every September is their payroll & their payroll provider. The decision to hand over the payroll to an expert managed payroll provider can be a hard pill to swallow but can have far reaching and unexpected benefits for a school.
Many schools have always outsourced their payroll, although typically this was outsourced to their Local Education Authorities (LEA). However, in more recent years there has been a shift, and many are now taking advantage of outsourcing this service to expert advisers. This is because of the many benefits that come with outsourcing, such as reduction in costs, reduction in payroll workload & more time to focus on their students and the curriculum.
1) Increase operating efficiencies
Did you know that 75% of a school’s budget is spent on staff salaries? Therefore payroll errors can lead to wasted funds, wasted time and damage staff morale. With such a large proportion of schools budget being taken up by staff salaries, it’s important to get it right. Choosing to outsource to a reputable provider will reduce your payroll errors & ultimately increase your operating efficiencies within your school.
2) Reduce costs
Many schools choose to outsource their payroll as they realise they cannot afford to keep staff members up to date with legislative & compliance challenges. Keeping payroll inhouse means recruitment costs and paying an annual salary. Therefore, it’s no surprise schools choose to outsource where they can pay a monthly or yearly fixed fee depending on the number of staff on the payroll.
3) Peace of mind
With increasing regulatory compliance needed in payroll, making sure you have an efficient reputable and robust process is essential. When outsourcing, you can have peace of mind as your chosen provider will stay up to date with the latest legislation and compliance checks. Knowing that this is taken care of enables staff to prioritise curriculum changes and keep up to date with other educational regulations.
4) Reduce risk
Many schools may be stuck in their ways and still have an over reliance on paper & manual systems. If your payroll system isn’t up to date, there can be too much time spent on basic tasks and ultimately leaving room for a risk to human error. Choosing a trusted provider, ensures these risks are reduced as you receive a team of dedicated experts.
These are just a few of the reasons why Schools choose to outsource their payroll to an external provider. When working with an outsourcing provider like Seamless, you can be assured your payroll will be taken care of, leaving you with one less thing to worry about.