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A Time For Change

The Payroll Umbrella sector has been great at exposing ‘salary skimming’ arrangements but has failed to address potentially the biggest deception of all, Artifical Wage Inflation.

Artificail wage inflation is the process of inflating a workers pay rate to accomodate weekly fees, sometimes £25+ per week. Then a portion of that is paid back to the payroll companies client.

There are a number of potential issues with this;

  1. Workers are being paid more but then have a chunk of that money paid back to their employer, thus making the real pay rate artificially inflated.
  2. That incentive structure from the umbrella is not disclosed in the KID documents.
  3. Many Umbrella companies only offer basic processing and employment support.
  4. The agency owners profit from the incentives in the short term however when they go to sell their business any ‘incentives’ are typically excluded from the valuation process. This can have a major impact on the businesses perceived value.

By contrast HIVE360 Umbrella Plus

  1. Fees limited to a flat £5 process fee.
  2. Fee structures that are fully disclosed.
  3. No pay incentives.
  4. By not paying incentives to clients and limiting process fees to £5, the minimum charge rate to the agency is lower than HIVE360’s competitors, in turn adding a genuinely improved margin to the agency that is unaffected in any valuation process.
  5. Workers’ take-home pay is unaffected and their perception of value for money is based on £5 per week (plus the benefits) and not £25+ per week.
  6. Provides real worker support, welfare provision and discount opportunities through the HIVE360 Engage app.

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