3 Must-Haves for Payroll Processing in Today’s Businesses
Payroll processing has never been so easy, and so complex at the same time. With tax and benefits deductions, overtime, FSA allocations, and the collection of data for reporting, payroll has evolved from an employee stipend to an HR nightmare.
For companies running manual payroll using the antiquated spreadsheets and hand-written timecards, processing is nothing short of a headache each pay period. Plagued by errors and missing information, there’s no place for labor-intensive payroll in today’s HR. Thanks to HCM technology however, these challenges have been solved through the implementation of simple, yet powerful platforms with multiple capabilities.
3 Must-Haves for Payroll Processing
If you’re still running payroll “by hand” it’s time for a change. The set it and forget mantra is appealing, but more importantly, your payroll should be automated with the flexibility to modify whenever necessary. If you’re inputting hours and correcting miscalculations, you’re wasting valuable time, resources, and budget on something that can be easily achieved with payroll technology. Implementing the right system will provide accurate timely results, help you simplify W2 distribution, and offer historical data that can be referenced for easier reporting.
Today’s mobile workforce expects access to HR through connected devices. With companies turning to virtual offices, and continuing to employ remote and geographically dispersed colleagues, they rely on these capabilities to keep them in the loop. Online self-service features including payroll history, PTO allocations, and a transparent view of all state, federal, and benefits deductions are an essential part of employee engagement. Eliminating the need to contact HR each time using these intuitive online payroll systems helps employees get the answers they need anytime, anywhere. Plus, accessibility leads to greater employee satisfaction and helps to ensure the longevity of cohesive teams.
Want a more collaborative workplace? This requires your technology to work well with others too – other systems that is. A siloed approach to HR solutions is little more than manual processes gone awry. What you need is a payroll system that can pass information from time and attendance tracking, benefits management, compliance services, and even recruitment and onboarding platforms. Implement this, and you’ll never need another. From day one, if your payroll system can pre-populate information from new hire data, that’s one less duplicate entry and a swift transition into your next payroll period. Do away with paper timesheets and integrated payroll will absorb hours directly from online, biometric, and timeclock solutions to process checks and deposits without fail. Complete integration provides the HR reporting and compliance capabilities needed to reduce workloads, and streamlines deductions for easier benefits and 401K management.
Payroll Data Services (PDS) transforms HCM for companies. Our payroll processing solution offers customized integration, ease of use, and the flexibility to adapt to your individualized needs (all without breaking the bank). We provide the tools, resources, and personalized service clients to help you run more efficient payroll. Find out how to put Payroll Data to work for you, and learn more about our complete suite of HCM solutions in a single platform.