It's time to act. The results from the survey clearly demonstrate that there is no time to be lost.
The results from the survey clearly demonstrate that there is no time to be lost.
To be in good shape for the rollout of auto-enrolment, Ireland’s organisations now need to take concrete, clear-sighted action, coordinating the key business functions and leveraging the support and knowhow of their partners and providers.
As the UK experience proves, those who take the bull by the horns and embark on the journey sooner rather than later, will reduce their risks and keep costly disruption to a minimum.
Awareness and understanding of auto-enrolment is low, even among HR and payroll professionals (50% have ‘no’ to ‘very little understanding’ of the rollout)
Organisations are largely unprepared. Less than a third have carried out complete forecasting of costs, checked their payroll solution can handle the change, or updated contracts appropriately.
Most companies (70%) expect to make additional investment, whether looking to modernise their payroll systems or source new talent. One in five are considering outsourced payroll services.
The UK rollout offers relevant insights for Ireland:
Pension uptake was high and currently runs close to 80%
Organisations often underestimated the time and effort required to prepare
Workforce education and communication is crucial
Compliance headaches can arise without a careful and thorough approach
Effective preparation for auto-enrolment will require strong collaboration between the payroll, HR, and finance departments – along with the support of experienced external partners like the payroll solution provider.
Let Zellis Ireland handle the auto-enrolment work for you
plus Drive cost efficiency
Improve payroll accuracy
Build resilience against business uncertainty
Manage risk and compliance
Unlock strategic insights from your data
