5 Reasons to Engage an Automated Payroll Service
How does an automated payroll service deliver both savings and convenience?
There’s no question that an automated payroll services offers companies big benefits. Figuring out how the service will best serve you is the first step in putting this easy-to-access resource to use. Consider the ways other businesses have saved by putting your accounting tasks on autopilot.
1. Cut back on man hours.
Using a trustworthy computer program to take care of your more time-intensive payroll tasks frees up your employees’ time to tackle other assignments. You may even find it possible to cut back on staff once you’ve established an automated payroll system. Audit your department to see where they’re spending most of their time, and then search for software or HR outsourcing services capable of handling those jobs for less.
2. Fulfill regulations.
Taxes, deductions, garnishments and benefits programs can become a discombobulated mess in no time. Set up government and industry standards and run them like clockwork. Work with a service or system you can count on to stay up-to-date. Few things will waste your company’s budget like fines and lawsuits due to missed obligations.
3. Automate pre-audits.
Checking that payroll has been processed correctly before cutting checks or finalizing reports is absolutely necessary to avoid costly mistakes, wasted time, increased frustration and a loss of faith in your company. Find a system where pre-audits are also automated and easy to run. The easier and faster it is to accomplish these steps, and the more accurate they are, the bigger the benefit you’ll get from your investment.
4. Protect people’s privacy.
Automated payroll services, especially those established offsite, help your employees avoid becoming the talk of the office. Salaries, benefits, paid sick days and garnishments can raise eyebrows and lead to juicy gossip. Prevent bad politics from affecting your productivity by ensuring these issues aren’t a regular focus.
5. Give employees more control.
An automated payroll service can often be adjusted to allow workers to check or change certain information on their own. Whether someone needs to change where their direct deposit goes or check how many hours of vacation time they have left, employees who have the option to handle their own financial issues usually feel more confident in their roles. This also frees up people in payroll, HR or accounting from having to handle those trivial requests, and let them focus on important tasks where they make the biggest difference.
Overall, making the move to an automated system takes a chunk out of your expenses. It also ensures the money you are spending returns more value than it did previously. When you focus your employees where they’re most needed, you raise satisfaction and productivity. You prevent petty disagreements from disrupting your employees and avoid costly – and common – mistakes. You’ll also, hopefully, see a drop in the number of hours people are working, allowing them to dedicate more time to their personal lives and increase their overall quality of life.
Simple changes like these make the difference between good bosses and great ones. Make sure you’re making the most of your budget and your staff by looking for areas you can automate payroll and other HR services.
Download a free copy of our whitepaper on PEO opportunities, like hiring an automated payroll service.