What is a payroll bureau? It's a simple, effective solution to the monthly and annual work load involved in paying staff that takes all the strain off the business in question. It does not matter what size the business is: payroll issues take up roughly the same amount of time, in comparison to the rest of a company's work, across the board – which means a pretty much identical (and very important percentage) of one's effort is made easier and much cheaper by using the services of an outsourced payroll concern.
Although a small business spells less time, theoretically, on payroll every month, it devotes the same percentage of time to payroll because it has fewer employees. A payroll bureau does that work better and quicker, leaving the employee who is responsible for it used to be free to dedicate their working hours to jobs that directly benefit a company's actual business. A larger company may have more staff seconded to payroll – but they've also got more actual payroll to do. Which means, as a percentage of overall income lost through payroll, the small and large business are in the same boat. A boat that can be steered far more efficiently by a company what whole reason for being is to do the work for them.
The payroll bureau takes care of everything: time sheets, hours worked, sick pay, holiday pay, bonuses, year end – the lot. Immediate benefits do not just start and stop with time and money saved, either. A payroll company is staffed exclusively by expert payroll employees, who have been trained and accredited in all forms of accounting. The payroll company has special relations with the Inland Revenue, allowing it to account for tax and national insurance without any of the headmasters normally associated with so doing: and, further, removing one of the most significant time consuming tasks from the HR or payroll department of an existing company.
Because a payroll bureau is staffed by people who are all qualified to do the job, companies that use them never get into a situation where expert knowledge is lost through sickness, maternity or paternity leave, or employees leaving the company. One of the most common causes of financial loss associated with doing one's own payroll is the leaving or absence of the employees who do that work: no-one else in the company knows how to do it, which means money has to be spent getting other staff trained; new staff have to be employed to fill the gaps left by the training employees – and costly mistakes are often made over the transitional months. With a payroll bureau, pay goes in and out smoothly every month and all the complex end of year stuff is sorted without anyone having to worry about it.
In an age where business is fiercely competitive, and every employee minute, let alone every person hour, is of vital concern to the successful running of the show, doing one's own payroll is counter productively and needlessly costly. One can avoid all that losing working time by simply outsourcing to people whose entire working day is concerned with running pay – leaving all company employees free to get on with making money for the business.