We have an employee reward debit card called the SmartaCard. It’s linked to all major retailers and it generates discounts and cash-backs for users. It also pays us commissions for everything that is spent across all its users.
The opportunity simply put, is that we will give your staff, or those that want it, a free SmartaCard that they can load with part or all of their wages.
We take over the employment on paper of your staff, they still work for you as normal, but we administer their employment under our employer company and pay them. We need to make this small administrative change in the way your staff are employed and move them into our employment platform, so they count as part of our employment group for the purposes of calculating the fees and commissions that we receive from the benefits suppliers and pass on to you.
In practice there is no change in the way the staff work for you, we simply administer the payroll as what’s termed the ‘Employer of Record’ and you remain in day to day control as the ‘Employer of Fact’. Your staff continuity of employment rights are fully protected and remain with you.
Your staff get the benefits of using the SmartaCard worth to them on average £1,200 per year over above what you pay them now and they don’t see any significant change in way they are employed.
We will give you a letter for staff explaining how the payroll is being administered for theirs and the business’ benefit and if appropriate meet with them the explain the benefits of using the card.
The transition is seamless and our implementation team will hold your hand all the way through the process.
There is no effect on your staff pension contributions and all their HMRC contributions are paid in full under our PAYE reference, as we become their employer of record for employment administration purposes. You will remain in day-to-day control of the staff as before and you will manage them, we take no part in that process whatsoever unless there are any HR issues which you can refer to us for help at any time.
The payroll process is very simple. All you need to do is provide us with the payroll data before we make the weekly or monthly payments and we’ll send you an invoice in advance near the payment date so we’re in cleared funds and staff will be paid. We’ll send out secured or encrypted hard copy or email payslips and we’re online 24/7 to deal with any queries from staff.
Getting started is straightforward you’ll speak to your designated Account Manager and they’ll organise the implementation, you don’t have to do anything.
We will run a dummy payroll before we go ‘live’ to make sure everything matches and is compliant. That is all there is to it.