The best way to make payroll management simple for everyone
Regardless of the size of your company, you’re probably tasked with payroll management at some point. This can be overwhelming if you haven’t done it before, but don’t worry—we have some great tips on how to make it easy on yourself! From calculating taxes to distributing paychecks, here are the best ways to make payroll management simple for everyone involved in your company.
1) Use automated tools
Make life easier on yourself by using automated tools that walk you through what your employees need and help you set up a system that works well. Most of these tools have templates that can help you save time and effort. Then, don’t forget to keep up with changes in legislation so you can continue to run an efficient business. In addition, consider partnering with a third-party payroll provider who will provide resources and documentation for employees. This will help prevent mistakes from being made or complicated processes from being initiated within your company’s HR division, making it possible for you to spend more time running other aspects of your business without worrying about how much money should be taken out of each paycheck or which forms need to be signed at what point in time.
2) Go paperless
Payroll software has changed dramatically in recent years. Companies can now more easily go paperless with fewer hiccups than ever before. Going paperless is one of those rare things that can save money and improve efficiency, which makes it a no-brainer for businesses of all sizes. From an accounting perspective, it’s also less expensive to process checks digitally than physically write them out (not to mention speedier!). If you aren’t yet using payroll software, talk with your accountant about how you can start implementing some of these features sooner rather than later.
3) Streamline your processes
Now that you have an idea of what your business can do, it’s time to nail down your organizational structure. Do you want employees or just independent contractors? What kind of staff do you need? Do you want one leader or a team of them? Asking these questions will give you a solid framework on which to build. You don’t have to answer them all right away—in fact, it might be better if you don’t—but taking some time upfront can save trouble later on.
4) Automate tasks
Automation is a great way to save time and simplify processes that take up a lot of your time. In most cases, it’s also easy to automate small tasks using tools available within your organization or you can always outsource smaller tasks. When automating small tasks, don’t forget about customer service. It’s important that people have a way of reaching you if they have questions or concerns, whether it’s via email or telephone. Although automation saves employees a good deal of time and energy, it still needs proper monitoring so errors don’t happen, so it’s essential to be able to monitor automatic processes efficiently as well as manually when needed.
Integrate HR with payroll
Payroll is one of those back-office functions that tend to fall through the cracks. Whether you’re an HR professional or run your own business, there are plenty of reasons you should be keeping up with it. From tax laws to worker eligibility, there are a number of factors that go into making sure your staff is being paid correctly—and in a timely manner. By integrating your HR and payroll functions, you can ensure they’re both being handled correctly, so you can focus on other tasks. A strong integration will also help ensure all staff members have access to benefits and online portals that let them view important information about their paystubs and health care plan options—like a 401(k) rollover calculator or HSA contribution estimator.
It’s easy to understand why HR departments are so overwhelmed. If you’re not careful, it’s possible that any of these steps could get overlooked, resulting in costly mistakes and legal issues. Keep your organization out of hot water by putting systems in place so your team doesn’t have to worry about process mishaps. This helps keep them focused on their jobs—and reduces employee turnover because they don’t feel unappreciated or overwhelmed with thankless tasks. To help increase employee morale and engagement, provide constant communication about their contributions and career growth opportunities within your organization.