Midsize employer case study.
We were recently commissioned by a company employing 200 individuals to manage their payroll from start to finish. After three months their payroll is settled and they are starting to reap the rewards in terms of cost savings and employee experience.
Previously this company employed a full time Payroll Processor who was supported by HR team member to process the payroll each month. As the Payroll Processor was due to retire they considered the benefits of hiring someone new compared to outsourcing their payroll. In order to replace the Payroll Processor one off recruitment and training costs were estimated to be around 5K with an ongoing annual salary and benefits expense of between 28-35K.
We were selected for the outsourced option shortlist and submitted a tender with costs as follows:
Implementation 200 employees one off cost £1800 includes:
- Employee data load
- Payroll configuration
- HMRC registration
- Two parallel runs
Ongoing monthly costs 200 employees @ £4 per payslip = £800.00 per month includes:
- Payroll processing start to finish
- HMRC liaison
- PAYE processing
- Online payslips/P60s
- HR system interface
- Accounting system interface
- Pension Auto Enrolment assessment and upload to the pension provider
- Create Bacs payment file
After a rigorous tendering process we were selected as the preferred supplier and the client now not only enjoys a saving of over 50% on their payroll costs but overall employee and employer satisfaction with the payroll process has improved. The client has stated that they are extremely happy with the outcome with their decision to outsource completely vindicated.
If your company is in a similar situation or you have simply not considered outsourcing your payroll for fear of not being able to find a reliable and trustworthy provider then please call our sales team on 020 3802 1534 or email email@example.com and let us help you make the right choice.