Tech Intelligence Bulletin (HG Insights) – Zellis has released new features for its award-winning payroll software, ResourceLink, to help UK businesses navigate payroll complexity, including a national minimum wage monitoring tool and CEO pay ratio reporting functionality.
Payroll teams using a new module within ResourceLink 23 are automatically notified of any employees that have fallen below the appropriate rate of minimum wage, allowing corrections to be made before the payroll is finalized and reducing the chances of breaching compliance. Last year, UK employers paid nearly £30 million in arrears and penalties due to non-compliance, according to the Department of Business, Energy & Industrial Strategy.
Companies in typically low-pay industries, such as retail, hospitality, childcare, and social care, are particularly at risk of non-compliance due to the complexity of the rules. Deductions are commonly made in order to cover mandatory items of uniform or different types of salary sacrifice scheme, but they can reduce a worker’s overall gross pay and inadvertently push their income below the national minimum wage threshold.
John Petter, CEO of Zellis commented: “The complexity of payroll legislation is not to be underestimated. With the government taking a firmer approach to enforcing rules such as those around minimum wage, and the introduction of further categories of pay reporting, organizations must have smart technology in place to meet their obligations as efficiently and accurately as possible.”
ResourceLink also now supports compliance with CEO pay ratio reporting regulations, which came into force for large UK listed companies with over 250 employees at the start of this year. A new module helps to calculate the required pay ratio and streamlines the creation of reports in the correct format.
“Keeps our customers legislatively compliant”
Marko Perisic, Chief Product and Technology Officer at Zellis, added: “One of the key value propositions of ResourceLink has always been that it keeps our customers legislatively compliant in an ever-changing world of payroll requirements. We’re always ready for what’s next, whether that’s exciting new legislation, new technology, or new patterns of working. We’re excited to deliver this latest set of ResourceLink enhancements to our customers and to help them create even better employment experiences.”