Mar 2015
13
Auto Enrolment – Are you covered?
Every employer in the UK will have to enrol their employees into a pension scheme and they must contribute towards that pension. This process is called Auto Enrolment. Employers will need to prepare for their new Auto Enrolment duties and responsibilities or face hefty fines. There is a lot of uncertainty, ambiguity and doubt surrounding Auto Enrolment for employers.
However, there is a clear opportunity for bookkeepers, accountants and payroll bureaus to capitalise on these new obligations for their clients. Contrary to popular belief, confusion isn't a bad thing. In fact, confusion can work to your advantage. It can be a platform for payroll providers to demonstrate their automatic enrolment expertise and knowledge to their clients. This knowledge will position you as a credible and reliable authority on employer responsibilities.
Opportunity Knocking
Pension schemes will become a part of day to day life for each and every employer in the UK. Thousands of employers will begin to look to auto enrolment experts for advice, counsel and an easy solution. Employers that previously did their payroll in house may look to outsource this role to a payroll and auto enrolment expert. Payroll providers will be able to help them grasp the implications for their business and prepare them for their automatic enrolment responsibilities.
Payroll providers who offer auto enrolment services will naturally gain a competitive advantage, win new business and ultimately increase profits. According to The Pensions Regulator research 78% of small businesses will rely on their advisors for help, advice and support.
Win New Clients
Presumably you have worked hard to win and gain new clients. But now you've got those customers, how do you keep them? The downfall for many bureaus is that they don't know how to keep customers. Time and money goes into acquiring new customers and the last thing you want is to see them sneaking out the back door.
Keeping customers makes good business sense but it's not always easy. Being open for Auto enrolment business will play an important role in customer retention over the next few years. This will give payroll providers an edge over other bureaus who are shying away from AE and will provide the capacity to generate greater value for their clients.
There is a clear opportunity to financially benefit from AE by offering to handle all auto enrolment duties for your clients. Your services can lighten the load for employers. There is a pot of gold at the end of the rainbow and it’s up to you to grab it with both hands.
BrightPay has you covered!
To take advantage of this business opportunity, bureaus need to have a payroll solution that can automate the AE tasks. BrightPay is a payroll solution that has automatic enrolment process driven automation included for free. This simple solution handles the complex process of auto enrolment with ease. It's easy with BrightPay, simply enter your staging date and BrightPay will automatically let you know what you need to do to enrol the employees.
BrightPay automates the employee assessment for you by accessing each employees PAYE information and informing you what your duties are for each employee. It further can produce personalised employee communication based on the employee's work status which can be printed or emailed. Additionally, postponement, refunds, opt-out, opt-ins and required reporting come as standard. BrightPay is integrated with a number of AE pension providers.
What’s more is there are no additional costs for automatic enrolment functionality and support is completely free. Our 60 day trial will prove how easy it really is.
To arrange a demo click here
