Payroll can be a time-consuming and tedious process. Using manual or outdated methods will just add to the frustration that you face! If you rely on inefficient processes, it will hinder your success and take your focus away from higher priority tasks. But payroll shouldn’t be complicated. Here are five steps to make your payroll simpler, more efficient, and ultimately a hero for your organization.
1. Adopting a self-service model
A self-service model, or a software that offers employee self-service, allows your workforce to manage their own personal information and history, like compensation. Implementing this model will streamline your payroll processes so you can focus on higher-priority tasks. For example, calculating vacation pay and handling employee requests manually require too much time and effort. Administration costs and time lost will unnecessarily increase as a result. But by automating the whole process with a payroll software, employees will be able to help themselves to the information they need in a single location!
2. Going paperless
Today’s organizations are looking for ways to cut costs, be more environmentally-friendly, and maintain the security of their data. By going paperless, you will achieve all of the above! As a bonus, you also have the convenience of allowing your employees to electronically access their paystubs and other information. Not only can going paperless significantly reduce your consumption of paper, but it will also reduce your costs in related purchases! Removing paper files from your premises also improves the security of your company and employee information as well, since it’ll only be accessible through granted permissions.
3. Managing payroll
Leaders have to manage several areas within the organization, like marketing, HR, accounting, and more. With all this going on, it’s likely that some areas won’t receive the attention it needs to be effectively benefit the organization. To spend less time on managing payroll and more time to focus on other important business tasks, payroll software will automate and simplify your payroll process to make it happen. But not all payroll solutions are created equal. Be sure to choose a solution that fits your business needs and is intuitive or easy to use. You want to make sure your team is able to easily use the tool to take full advantage of it and minimize their time unnecessarily spent on payroll tasks. For more help on choosing a solution that’s perfect for your organization, take a look at our blog, Six Key Areas to Consider When Choosing a Payroll Solution.
4. Tracking time
Going through a large amount of records and documents just to run payroll can be boring and dreadful. Implementing a payroll tool with time-tracking functionality or data import features takes that burden off your shoulders. It saves you time and effort, in addition to allowing your workforce to more accurately manage their schedules. It doesn’t have to be complicated!
5. Filing taxes
Filing taxes is an uneventful and tedious process. You have to be precise, as incorrect data or late submissions can result in penalties. Automating this process will save you lots of time and ensure everything is correctly completed. Let technology do the work for you. Your payroll software will help you stay compliant with both state/provincial and federal regulations.
By following these five steps, you can make your payroll simpler and more efficient for your organization. By automating your payroll process and additional features like time-tracking, you can sit back and relax. Let the software do it all for you. It will free up your time so you can focus on what’s more important.
Check out what key areas to consider when picking the perfect solution for your company by reading our blog, Six Key Areas to Consider When Choosing a Payroll Solution. Or, if you’re looking to streamline your HR processes, take a look at our last blog, How to Simplify Five Routine HR Tasks.
Ready to get started? Contact us today to see how Paymate’s solutions can help automate your payroll.