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A Payroll Solution For Pesky Perks

A Payroll Solution For Pesky Perks
Alison Clynes
Written by
Tuesday, 06 July 2010 23:00

Staff 'perks' are in the news. The 'bonus culture' of the financial sector is castigated for hastening the world economic crisis, MP's expenses claims have resulted in public outrage and criminal proceedings, and arguments over travel perks for cabin crew have brought about strikes and wrecked travel plans for thousands.

But 'perks of the job' have traditionally been part of Britain's work environment. Whether it is subsidised meals in the staff canteen, travel passes, and 10% discount at the checkout, or free gym membership, childcare, company car, housing and massive bonus payments, perks are willingly offered by employers and eagerly accepted - even relied upon - by employees. Organisations use perks to attract high-calibre workers and maintain employee morale and loyalty. Perks are seen as integral to the total staff care package, and are often administered by the in-house payroll services.

However, most perks are actually non-contractual. They can be changed, suspended, or withdrawn entirely (sometimes with grim consequences for workforce relations and productivity). In our harsh economic climate many businesses and public organisations need to slash costs, with perks an obvious target. Additionally, perks are heavily taxed, whether a designated part of employee remuneration or not. Getting the tax right is vital to avoid costly consequences for employer and employee alike.

The days of hidden perks are gone. Everything must be open to scrutiny, and properly accounted for. This requires expert administrators, well-versed in the complex and constantly-changing regulations. Increasingly, businesses find it simpler and more cost-effective to use payroll outsourcing services, such as Dataplan Payroll. We provide payroll solutions to deal with all this efficiently.

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