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Want to keep your best staff for the future? Better make sure you pay them correctly

Whether you’re a small business with only a couple of employees, or an established medium-sized firm with a staff count in the hundreds, payroll is a core operational component that you cannot afford to get wrong.
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While it may not be as exciting as raising growth finance or launching a new product range, ensuring employees are paid on time – with the right amount – is a given if that capital is going to be put to use or new product sold.

As such, we’ve decided to make payroll the subject of our latest focus. As done previously with subjects such as employment law, exiting your business and mobile technology, our analysis will bring you all the relevant information required on the subject – including upcoming and recent legislation changes, advice on automation and efficiency, and advice from your peer group.

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Payroll, as part of the larger back-office function associated with all things finance and admin, has not been missed by the touch of technology. From tools allowing for payroll to be managed on the move to digital payslips for staff, it can often be difficult to keep up with innovation as it comes thick and fast.

Along the way, we’ll be complementing content by leveraging the expertise of Sage – a FTSE 100 financial enterprise software business that has been helping customers with payroll for years.

Have a look at our previous focus topics:

The important nature of payroll was highlighted by the recent finding that over a third of workers would look for a new job if their employer messed up their monthly salary just once. In an era when staff retention has never been more competitive and workers are less likely to be that one company person, it can have a damaging effect.

On the productivity front, having countless staff dedicated to making sure payroll goes smoothly eradicates possible errors but then means they do not have the time to focus on other core back-office functions.

All of these issues and more will be covered in the upcoming payroll focus. However, if you find that a query you have either isn’t covered, or done so in not enough detail, then please get in contact with us and we’d be happy to pass it on to a suitable expert.

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About Author

Hunter Ruthven

Hunter Ruthven is the editor of Real Business. He is also the editor of Business Advice, a title focused solely on a section of the business community currently underserved – micro companies. Alongside this, he is part of the team that hosts the Growing Business Awards, First Women Awards and Future 50 initiative.

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