Payroll winner? – Applying the Leicester City effect

3rd May 2016

The Leicester City effect in payrollSize isn’t everything. As Leicester City Football Club have shown this year you don’t need to be the biggest club, with either a Russian oliogarch, sheikh, or rich Americans throwing obscene amounts of money to buy, on paper, the best players to win.

And the same is true with payroll. Small and mid size payroll outsourcing companies regularly compete with the big players in the market, often winning the business with UK companies. So how does payroll apply the Leicester touch?

  • Making possession count – Just like in football it’s not how much possession you have it’s what you do with it. Leicester used limited possession of the ball to the best advantage. In payroll, and what makes the difference at a good payroll company, its what the company does with clients once they are on board. A good payroll company will have a true client account manager, not someone who bolts the role onto an existing job, who truly looks after the client post sale. The Account Manager will ensure that time is valuably spent with the each client to understand where they are now and where they are going, and take action appropriately. This ensures there are no own goals.
  • No tinkering – Ranieri was known as the Tinkerman before joining Leicester but he found that using an established format and the same people week in week out paid dividends. This is true of good payroll companies. Having an assigned payroll manager, team and Account manager looking after your payroll each month clearly gives stability and understanding of your business. Avoiding regular changes of personnel is a must if you want your payroll properly looked after.
  • Keeping a check on costs – Leicester’s most-used starting XI this season cost them just £23m to assemble. That’s almost 10 times less than Chelsea’s 2014/15 winners. A good payroll company will always offer good value for money. They may not always be the cheapest but they will deliver the results. And let’s not get too carried away. Leicester did invest in their squad, as do good payroll companies, who will support their team through CIPP qualification and training.
  • A charismatic leader – Leicester have Claudio Ranieri at the helm, IRIS FMP have Neil Lagden. Any good football or payroll team has to have a good person at the helm, leading the team, and helping people enjoy the ride.
  • Discipline – the Leicester team gave a disciplined performance week in week out. The same is true with a good payroll provider. A good payroll provider will give a disciplined performance that will ensure your people are paid on time, every time.
  • Belief makes you a winner – the team at Leicester believed they could win and that belief got them to the top. The same is true of any good payroll company. If a payroll team is passionate about the work it does with clients then great things are possible.  Mid sized IRIS FMP Payroll Services won the Payroll Team Award at the Payroll World Awards in December 2015.
  • Great Fans- Leicester had die hard fans that believed their team could win. A great payroll provider has great fans who can provide testimonials and references if you’re looking to change. If they struggle to do this then they should be relegated.
  • Taking the 5001-1 bet – Payroll is a risky business, and for all the fairy tale charm of the Leicester win this year you really do need to be more certain when choosing a payroll provider. However, the supporters who took that bet believed their team could win. In payroll, ensure you fully understand the payroll team you’re outsourcing to. Check their credentials, understand and meet their key players, and ensure they will work for your team as a team.

Should your payroll have the Leicester touch? Absolutely.