All payroll tasks may appear boring to an HR specialist. The simple stuff, on the other hand, is where payroll personnel requires assistance. Data entry, leave requests and going through overtime filings all take time away from the critical task of managing each employee’s earnings.
Payroll personnel will also no longer be necessary to manually calculate taxes and deductions because the payroll system will do so for them. Your system can also send automated emails to managers reminding them to approve employees’ time so that your Finance team does not have to chase them down.
Reduce the number of inquiries about salary.
Any payroll professional will tell you that the inquiries start pouring in as soon as employees receive their paychecks. People are curious as to why numbers have changed and where their money is going if it isn’t going to them directly.
Self-service capabilities are available in most payroll solutions, which are critical for reducing the number of simple questions your Finance department receives. Employees should have easy access to their payment records, such as pay stubs and W-2 forms. Another advantage? Workers can check if any information is wrong and contact Payroll or HR to have it corrected.
Streamline the onboarding process.
An automated payroll system can help new hires have a better experience, which has a direct influence on HR. Self-service alternatives allow new workers to upload required forms directly to the system, eliminating the need for HR to process them or store multiple copies.
Instead, the forms are already in the system, ready to be amended if necessary and used for payroll right away.
Ensure that people are paid correctly.
Your employees want to be paid accurately and on time, no matter how much they like working for you. Most payroll solutions have direct deposit features, which allow people to receive their checks immediately rather than having to go to the bank to deposit a check.
Workers can also use self-service portals to acquire up-to-date information on when their money will be accessible. When employees have access to payroll information, you should remind them to check it on a frequent basis, especially if they relocate or experience other important life changes.
It’s a huge task to keep track of every municipal, state, and federal tax rule that regulates how you deduct money from employees’ paychecks. You must remain compliant, yet rapidly changing rules can make this difficult at times. Newer payroll and billing software solution keeps track of those rules and other regulations so you’re never caught off guard and can verify all of your deductions are accurate and legal.