Type of business: Manufacturing company
Date onboarded: 1 March 2022
The company had operated a lean business model, relying on outsourced providers for tasks such as payroll and pension processing, but the costs seem to be ever-increasing. They had always outsourced their payroll and pension processing to an accountancy firm to unload the burden from the head office finance team. But the costs seemed to be getting steeper and the additional charges for administering one-off tasks such as furlough payments during the pandemic, or creating P60s, led them to look at their options.
With cost in mind, they turned to Growth Partners, who were able to take on their payroll and pension processing and their compliance while reducing their costs by a huge 80%.
“Growth Partners’ service fees are so reasonable – and even better, they’re set. So, no matter how many staff we take on or the one-off bonus payments we make, the monthly fee is the same. When we totalled up how much we were being charged every month and compared it to Growth Partners’ fees, it was a no-brainer.”
More than payroll and pensions…
What started as a cost-saving exercise for the medical manufacturer, led to greater things as Growth Partners were able to assist with their employee engagement services too.
The all-in-one solution for payroll, pension and employee engagement services means their employees have access to their payslips and pension pot via an app as well as a range of discounts, online GP services, counselling support and much more.
“The discounts have really boosted morale among the team – being able to give employees the opportunity to save on everyday things such as groceries and kids’ days out is effectively a tax-free pay rise, at a time when every bit helps.”
Now almost a year into their partnership with Growth Partners, the company and their employees have expressed their satisfaction with the switch. Their employees tell them how much easier it is to have 24/7 access to their pay documents via the app as opposed to email and the discounts have been a real hit.
Our CEO of Employee Services, Scott Read said:
“Our cost-effective proposition is something we’re proud of – we don’t want to bill our customers every time they ask for help, one fee covers everything. And the employee engagement support payment we give companies can make a big difference to their bottom line. We’re adding new services all the time to ensure our all-in-one solution for payroll, pension and employee engagement can really help businesses to grow.”