SSP - rising costs to an SME
Employers could save on SSP costs. Contact us to start saving now.
Employers need now more than ever to keep a tight grip on payroll costs. Are you using your full annual Employment Allowance of £3k? You can apply for a refund, or have any unused balance offset against any forthcoming PAYE debt. Keep open dialogue with your accountant to make sure expenditure and actual costs to your organisation are controlled. At Catherine Kane Associates, we have seen a growing number of clients move from monitoring absence from days to hours. Potentially saving £'000 each year in SSP
and related absence costs.
Appoint someone in-house to help manage SSP and the ongoing management of this expense. You can create the bandwidth in an administrator to manage holiday, sickness and EQNI by devolving holiday and sickness administration and approval to supervisors and line managers. There are affordable online tools to help you achieve this, from £10 per month. Think about whether accounting for sick pay in hours will help drive it down to the current national average of 5.5 days per employee. Make sure expenditure is tracked.