There’s no doubt payroll management is an important part of your business operations. Payroll often forms a large portion of HR’s activities, and it may even draw in individuals from accounting as well. It can be a time-consuming task, and it may not always be as straightforward as it seems at first glance.
A good process is the key to remaining compliant, ensuring payroll is completed correctly and on time, and more. Simplifying the payroll management process can free up your HR team’s time and save money, all while boosting compliance and reducing payroll errors. If you’ve been searching for ways to make payroll even just a little easier, try one of these innovative methods.
1. Integrate with Your HRIS
You likely already adopted a human resource information system (HRIS). This technology has almost endless possibilities for busy HR teams. It can help you manage most of your core HR activities, from onboarding to leave management and more.
If you haven’t yet implemented an HRIS in your business, be sure to consider one that can integrate with your payroll management system. Whether you’re using QuickBooks or another program, you want your HRIS to connect with it. If you already have an HRIS but it doesn’t integrate with payroll, it may be time to consider upgrading.
Why should your HRIS integrate with your payroll management program? It makes it easier to manage and streamline your payroll management process. It can help reduce errors in data entry and make getting information about salaries, raises, and even new hires into the payroll program much faster.
2. Use a Visual Workflow
How do you know you’ve completed each step in the payroll process? A checklist is a good start, but have you ever sat down and mapped out your workflow?
Visualizing your workflow can help you not only complete it but also identify its shortcomings. Most payroll management processes are time-consuming, but they may also include redundancies and repeated steps. Sometimes this is necessary, but you might be duplicating steps without really needing to.
The visual workflow can help you refine your payroll management processes and see where you can improve.
Automation is a key word in payroll management processes and HR departments more generally. Today’s technology allows you to both streamline and automate different processes. Want to move data from one program to another? Use an automated process instead of moving it by hand. You’ll increase accuracy and save time. You can get back strategic work instead.
The same can be done with payroll compliance. Monitoring the different legislative frameworks can be time-consuming. Allow technology to help you keep better tabs on it. Automated reminders and more allow you to focus more energy on revising policies to ensure compliance instead.
4. Go Paperless
One thing you can do to simplify the payroll management process in your business is to go paperless. If you’re still paying employees by cheque, switch to direct deposit or e-transfers. These methods cost less because you don’t need paper and ink to print them. They also arrive sooner, so employees love them too.
You should also file your taxes electronically and encourage employees to use an online self-service portal for payroll. Pay stubs can also be electronic, either posted through this portal or emailed to employees. This can reduce, if not outright eliminate, paperwork from much of the payroll process.
5. Use Specialized Payroll Software
If you’re still using generic accounting software, it may be time to make the switch and select a specialized payroll processing program for your business instead. Specialized software offers more power to streamline your payroll management process.
Just make sure the software you pick can integrate with your HRIS. Managing your payroll more effectively and efficiently is possible. These tips can help you get there.