When you own a small business, managing payroll is always going to be a hassle if you do it alone. The good news is that you don’t have to. There are two options for bringing in help: either you go in-house, or you outsource to a professional team. But which is right for you?
As providers of payroll services in Shoreham-by-Sea, we understand the pros and cons of both options, and have put together this handy guide to help you make the right decision for your business.
Pros and Cons of In-House Payroll
Hiring an in-house team gives you the dedicated, focused work of your professionals. They’re thinking about your payroll, and your payroll alone, which definitely has its perks. But it also comes with the usual headaches of hiring in-house, including:
- The cost of permanent staff
- On-boarding your team
- Providing training where necessary
- Paying for holidays, sick pay, maternity pay, etc.
- Creating space for the team in your office (or providing remote working equipment)
It’s expensive and, on the whole, your business doesn’t need a dedicated payroll team unless you’re hiring thousands of employees. For massive corporations, it can be a smart move, but for smaller businesses, it’s inefficient and often ends up costing you more money than it’s worth.
Pros and Cons of Outsourced Payroll
Outsourcing your payroll means that you can skip all of the unnecessary costs and responsibilities of hiring your own team. Instead, you’re working with payroll professionals who are already fully trained, know what they’re doing, and have their own business set-up. You don’t have to worry about the admin of sick pay and HR training, making it easy-breezy to find professionals for your payroll.
Other perks of outsourcing your payroll include:
- You gain access to a fleet of payroll software without the monthly subscription costs (our team uses Modulr, for instance, to streamline payroll for our clients).
- You can scale your payroll services at the drop of a hat, without needing to go through the laborious hiring and onboarding processes, for a financial system that grows with you.
- If your outsourced team isn’t a good fit for your business, just switch. Simple!
If you’re looking for small business payroll services in Shoreham-by-Sea, outsourcing is a no-brainer. It’s ideal for smaller teams, helping you focus your time and resources on growth rather than hiring, onboarding, and admin.
The one disadvantage is that you don’t have an internal team that’s solely focused on your payroll. As a small business, though, it’s likely that you don’t really need one. With a skilled team, payroll doesn’t need to be a full-time job, and we can get all of your tasks done while reducing your in-house responsibilities.
Trusted Payroll Services in Shoreham-by-Sea
At Angel Bookkeeping and Payroll Services, we’re trusted to deliver accurate payroll that takes the stress from your shoulders. Transferring your payroll tasks to our team is simple and stress-free, too, making it quick to get started. For small business payroll services in Shoreham-by-Sea, we’re the reliable choice.
Contact our team today for a free, no-obligation quote and let us take care of your payroll.