Taking The Weight Off With Payroll Outsourcing

I've run my own business for several years now and the company seems to be defying the current economic trend by growing at an exponential rate

. The work's coming in faster than we can get on top of it and consequently, we've had to take a lot more staff on and there's been a lot of overtime being worked as well. Times are good for my company, but this has also highlighted one of my weaknesses as a manager and owner.

I like to think I'm pretty good with people; my staff all seem happy with the way I treat them, there's a good social feel to the office but the work still gets done. Basically, I think I'm a good manager in most respects, but I'm not a mathematician by any stretch of the imagination. With the rise in work, we've had more money to go around in the company, but with the increasing workload, I've had to spend that budget on the new staff to actually do the work, and there wasn't really enough left to hire an in-house accountant, leaving me to do the wages myself. As I said, I'm no mathematician, so I decided to look into payroll outsourcing.

I'm glad I did - the few weeks I was handling the wages for all the new employees as well as my old staff who were doing lots of overtime was responsible for a fair few extra grey hairs on my head and plenty of sleepless nights. I just wasn't sure I was doing it right, the basic maths skills are there but they're not really ready to be applied to my company anymore, the way it's grown. Thankfully, the suggestion of payroll outsourcing has saved me from that, enabling me to actually concentrate on running the business.

For far less than I would have paid an in house accountant, I pay a payroll outsourcing company to handle all the aspects of my company wages, including setting up all the accounts for new starters, working out overtime costs and everything else that goes with wages, and it's taken care of without me needing to do anything.

Although these trying economic times have many people trying to cut back where possible, I think that it's better to make the right investments where you can, whether that is on hiring the right people or on payroll outsourcing or other similar aspect of your business to make things run smoother.

by: Anna Stenning

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