Are you ready to celebrate National Payroll Week 2020?
7th September 2020
Rarely a day now passes without the latest image on the Google homepage reminding us there’s a new cause to celebrate. However, one that may have slipped passed you is National Payroll Week which this year will be celebrated between the 7th and 11th September.
National Payroll Week was established by the Chartered Institute for Payroll and Pension Professionals (CIPP) in 1998. They wanted to recognise the vital contribution (in excess of £325.7bn during the 2020/21 tax year according to estimates) payroll makes to the UK’s economy by aiding the collection of income tax and National Insurance.
While 2020’s National Payroll Week has assumed a little more prominence as it tallies with the CIPP’s 40th anniversary, there is another reason it should be celebrated a little more widely this year. Like everyone else payroll professionals have had to work under unbelievably testing circumstances over the last 6 months but they have provided arguably the most tangible outcome for us all…
They made sure we all got paid!
It is heartening to see the efforts of our payroll professionals have been officially recognised by the UK Government who sent a letter of endorsement to support National Payroll Week and have publicly praised the work both the CIPP and our payroll professionals have done during the Pandemic.
Although we began this blog by saying National Payroll Week may have been a celebration that passed you by, I can assure you that was said with our tongues firmly in our cheeks. For us this now international celebration of the unbelievable work payroll professionals do – both operationally and strategically – is much deserved.
Employees have long been considered to be a business’ most important resource but while many businesses spend a great deal of time recruiting, training and retaining their staff, corners are still all too often cut when it comes to managing their payroll. This is despite the fact paying employees regularly and accurately is crucial to sustaining morale and preserving financial stability.
This is why having such a high profile reminder to think about the fantastic work our payroll teams do and the way their efforts impact on our businesses has to be a good thing. And, that impact isn’t limited to our morale and accounts; there is also a significant reputational aspect we can’t afford to forget.
A payroll has to adhere to all of UK’s tax and employment regulations. If a business stays compliant it will reinforce its position as a stable and reputable organisation, an organisation people want to work with and work for.
From a more practical point of view, the many manual tasks associated with payroll can take up a great deal of unnecessary time and resources each month if they aren’t managed in the most efficient way. More worryingly, if things are allowed to get stretched, important details can be missed and the precision of the payroll calculations can suffer. This can lead to additional problems both internally and externally and tracking back to identify and rectify any mistakes can place additional pressure on your staff.
If, like many companies, you are finding it increasingly tough to stay on top of your payroll, we may be able to help.
Our hugely experienced team are all trained to the highest standards and can manage all aspects of payroll. Outsourcing your payroll function offers to us would give you all the benefits of a payroll department without the overheads or compliance risks. We’ll make sure you continue to meet your statutory and contractual responsibilities and, more importantly, that your people are paid correctly and on time, every time.
If you’d like to find out more about our payroll services and about how we could seamlessly take over responsibility for your payroll please email email@example.com or call us on 0116 2827000