Wasting time, energy, and money streamlining your payroll process? Here are 6 payroll improvement ideas to put into action.
If you’re a payroll specialist or HR professional, you’re always looking to make your organization’s systems and processes better. Whether it’s the latest and greatest software or efficient people management strategies, there’s always room for improvement. If you’re looking to streamline your payroll process and provide a better experience for your employees, check out these 6 payroll improvement ideas.
1. Make Your System Transparent
Is your system easy to use for all employees? The best payroll improvement ideas start with transparency. Make an effort to hold periodic meetings to educate staff on all company policies that affect payroll. Beyond training, develop written resources outlining the information for easy reference. It’s also a great idea to display the materials around the workplace.
2. Offer 24/7 Online Access
Do your employees have 24/7 online access to their payroll information? They should. When it comes to payroll improvement ideas, more accessibility is one of the easiest changes to make. Give your team members access to digital paystubs for past pay periods, current hours worked, vacation days used, and available sick time. 24/7 access helps staff feel like they’re in control of their paycheck and they’ll thank you for it, too.
Integrating your accounting system with an employee access software will also help you run payroll reports, view wage lists, expense trends, and more.
3. Integrate Your Systems and Processes
One of the best payroll improvement ideas for organizations large and small can be a software integration. Do your benefits processes, timekeeping records, and overtime logs all sync together in one platform? Payroll and HR specialists can cut down the administrative time required to manage the payroll process when each component seamlessly integrates into one software solution. If your software doesn’t currently support all of your tools, find one that does.
4. Synchronize All Pay Schedules
Some companies have different pay schedules for employees. For example, part-time employees might receive paychecks once a month whereas full-time workers get paid bi-weekly. Several pay cycles create more administrative work for payroll staff. By synchronizing all pay schedules, staff can spend less time processing paystubs and sending out checks.
5. Go Paperless
Even today many employers still cut paper checks and mail them out to employees once or twice a month. Or in some cases, each week. Printing and mailing checks is a large time burden for payroll staff. Encourage your employees to switch to direct deposit to eliminate paper checks. Beyond saving time on administrative duties, this step is also a great way for your organization to “go green.” Waste less time and paper with paperless checks and billing.
6. Keep Up with Tax Requirements
It’s common for state and federal tax requirements to change as the IRS and government agencies update compliance rules and regulations. Create a process for staying on top of the latest requirements for your organization. Failing to do so could be a costly headache for your team if you find out you need to make changes to your records right before tax time. Or find a payroll solution that will deal with compliance for you!