Updated: Apr 13
I recently spoke to someone who advised that he was shocked at the cost of business support. He thought he would be better off hiring a member of staff. Now, most companies go through a period where they have work coming in, they are getting really busy, but they aren't quite ready to take on the responsibility of a member of staff.
So what are your options? Well, you could hire a new member of staff, maybe just part-time, surely that will help? Here is what do you need to look at if this is the route you decide to take:
Recruitment costs - If you use a recruitment agency, which can cost around 20-30% of the final salary – on an average salary this would be over £4,000
National Insurance - Every employer has to pay toward their full-time employees’ National Insurance (NI).
Pension - As part of the auto-enrolment scheme, employees are automatically signed up to a basic company pension scheme.
Training - The average UK company spends over £1,000 per employee.
Office space and equipment - Unless you’re replacing someone, you’ll need to provide a new employee with desk space, computer and more.
Employers Liability Insurance
Other costs - HR costs to deal with new starters, holiday cover, cover for maternity leave, sick days, company cars, software licences and more
(see Undercover Recruiter for costs)
To hire a new employed member of staff you must start with Recruitment, now someone with Customer Service and Admin experience will be commanding around £12 per hour as a salary, you could go for a school leaver at minimum wage, but you will have to train them from scratch, and didn't you say you were busy?!
On average to hire a new member of staff will cost you around double their final annual salary in their first year.
Your other option is to hire Lloyd Admin Services. What you need to know is that with the Support Team from Lloyd Admin Services is:
You only pay for the hours you use
They pay their staff National Insurance and Pensions
Their staff are already trained and ready to hit the ground running
They have their own equipment and software licences
They have their own Insurance and Policies
So that hourly rate that you think is too expensive actually provides you with a resource that is flexible and immediate.
Companies hire Lloyd Admin Services for a variety of reasons, from extra help in busy periods to a way to expand without needing larger premises or more staff.
So book your Discovery Call today and find out how Lloyd Admin Services can help you achieve more in 2021.