4 ways to get compliance visibility when your payroll is outsourced
While you might trust that your supplier is keeping you complaint, as a business you should be paying attention to the finer details when it comes to payroll compliance with your outsourced supplier.
Your supplier might talk the talk, but can they walk the walk too? Here are our top tips for getting greater compliance visibility from your supplier.
Look for the badges
From the Chartered Institute of Payroll Professional’s PAS, (Payroll Assurance Scheme) to relationships with the HMRC, accredited by the Bacs Approved Bureau Scheme and ISO accreditations. When looking into your supplier it’s important to not only look for these badges, but also search for how long your provider has been affiliated with these institutes.
Check data security measures
When it comes to payroll data, security should always be at the top of the agenda. There are accreditation such as ISO 27001, and cyber essentials that are a real tick of approval when it comes to managing data appropriately. However, it’s recommended that businesses take a deeper dive into provider policy and data handling to ensure a deeper level of compliance.
Keep tabs on the application of latest legislation
As we know, in the payroll world legislation has a habit of changing at the drop of a hat. While you should be able to trust your outsource provider to accurately apply this legislation to your payroll to maintain compliance…it’s always worth doing internal due diligence. Think the name and shamed list when it comes to Minimum Wage Reporting, or Gender Pay Gap Reporting. If your provider isn’t mentioning the latest legislation on a regular basis, you should be flagging it to them as a priority.
Check internal staff qualifications
Anyone can claim to be experienced and qualified in the industry. However, backing it up with qualifications is another matter. In the world of payroll there a few ticks of approval you might want to look out for such as CIPP certified and experienced experts, internal legislation experts.