Auto-Enrolment: Building a compelling proposition
Auto-enrolment duties have been a typical part of the payroll package being offered by accountants and bureaus for some time now. However, it is worth taking stock of what auto-enrolment services you offer, how you package this service, and if you’re getting the most out of it.
Revising your AE proposition model will require you to take a look at your customers’ needs and understand their problems. Ask yourself, “How does auto-enrolment cause problems for my clients?” and “How does it get in the way of their actual work?”
While there is a limited number of auto-enrolment duties you can perform, the way you communicate their value is extensive and entirely up to you. A good proposition model should provide solutions to your customers’ needs and should deliver certain benefits.
When revising your proposition model, first consider your:
The payroll software you use is critical to not only deciding on what services you can offer but also the time you spend carrying out auto-enrolment duties and thus, the load of work you can take on. By choosing wisely, you can use a payroll software that includes batch processing and will also automate and streamline many of the auto-enrolment duties.
With BrightPay payroll software, you can offer an auto-enrolment management service that includes employee assessment, enrolment, management of opt-in and opt-out requests, personalised and TPR approved assessment letters for employees, and of course, deductions of contributions through payroll.
Access to various pension schemes:
Your auto-enrolment value proposition will likely include registering your client’s company with a workplace pension scheme provider and reporting to them regularly in relation to which employees have been enrolled and what contributions you have made on their behalf. Depending on the payroll software you use, this communication process can be made even more seamless and automated.
BrightPay offers direct API integration with NEST, The People’s Pension, Smart Pension, and Aviva, allowing you to seamlessly send enrolment and contribution details to the pension provider. Along with the direct API integrations, BrightPay is also compatible with many other pension schemes through the use of CSV files.
As auto-enrolment is a continuous responsibility for employers, you can also provide your clients with ongoing employee monitoring and re-enrolment. This is a valuable service for your clients and it shouldn’t be too much of an added burden for you. This is particularly the case if the software you use automatically monitors any changes to the employee’s work status and will automatically notify you when re-enrolment is due.
BrightPay payroll assesses employees for re-enrolment, and if they meet the criteria, on-screen flags and alerts will appear to notify you that you now have re-enrolment duties to perform.
Communicating the value of your proposition:
Deciding on your proposition model is one thing, but communicating it is another. It is essential that you not only communicate the various aspects of your auto-enrolment management service, but more importantly, communicate their benefits.
By using your auto-enrolment services, your client can:
Save time, allowing them to focus on their own work rather than spending time trying to understand complicated pension schemes. Auto-enrolment is a continuous duty, putting continuous demands on employers. Emphasise this.
Reduce errors by allowing knowledgeable professionals to carry out the duties. You can provide experience and expert advice when making decisions, such as knowing which employees need to be re-enrolled into a pension scheme.
Avoid possible penalties by handing the responsibility over to you. The employer faces the risk of non-compliance by doing auto-enrolment themselves. By outsourcing their auto-enrolment duties to you, the employer will reduce the risk of failing to meet these duties and avoid escalating fines or legal action.
If you’re interested in learning how BrightPay can improve how you carry out your auto-enrolment services and how this will impact your clients, schedule a personal demo with a member of our team today.