Payroll management is one of the most important aspects of a successful business. However, instead of being simple, it can be a problematic HR practice. Oftentimes, complicated payroll management arises from manual processes – think Excel spreadsheets and overflowing file cabinets. These issues often arise in large companies that employ a large staff competent. That’s an overwhelming amount of paperwork!
For any business, big or small, the best way in which to combat the obstacle of payroll management is to invest in an integrated software solution. Here are our top tips for a better payroll management process:
1. There is power in alignment
The first step towards achieving a better payroll management process is to align your various payment schedules. Instead of paying various employees and service providers in different payment cycles, combine them into one cycle that can be paid at once. Not only will this eliminate the back-and-forward of following up on various payments, but it will also prevent any duplicate payments or errors.
2. Streamline all payroll systems
Simplifying and streamlining your payroll systems is imperative if you’re looking to improve on your overall execution. It is impossible to manage various systems in the payroll process which is why streamlining it all to one process is an important step in eliminating any pain points that your HR practitioners may have. The best way in which to streamline these processes is through a reliable payroll solution that can be tailored to your specific business needs.
3. Invest in modern payroll software
In order to simplify your processes and align your payment cycles, you will need a high-quality, reliable and fully-integrative payroll software solution that can eliminate hours of administration tasks. Not only will you be sure to improve the overall productivity of your HR team, but it will also ensure accuracy when it comes to confidential records and employee information.
4. Go paperless
The chances are high that, if you’re still handing out hardcopy payslips, they’re ending up in trashcans and wedged between car seats. The same can be said for piles of hardcopy records and employee files – overflowing cabinets and yellow-stained records are no longer the professional way to go. Instead, go paperless with a payroll software solution that automates payslips on a monthly basis, and generates employee reports and records that are stored in the cloud or on a server.
5. Invest in training
A better payroll process comes from HR practitioners and staff members that are educated and able. Investing in regular training will ensure that your staff members contribute to the efficiency of a streamlined payroll management process. It will also ensure that your staff members are able to problem solve in times of crises or when audits are being conducted.
If you’re looking to improve your payroll management process but are unsure of your existing software, perhaps it’s time to upgrade. For more information on our services, contact us.