How do YOU deliver payroll and benefits to YOUR employees so that life is good for YOU and THEM??
YOU are no longer stuck babysitting disconnected spreadsheets. You’re using software that is easy for you to input and manage. YOU now provide on-sight or remote access to anyone—without having to spend all YOUR time replying to e-mails or on the phone.
YOU can whip out reports in seconds, automatically, from anywhere send out e-mail alerts so nobody misses deadlines, updates dozen of records at once, all while remaining under budget.
With todays’ technology, now YOU can have all that ‘ extra ’time to work on strategic initiatives like training, hiring and saving the company money—and then YOU can go home. Maybe on time! Life would be good!!
An HR management system should provide a suite of tools designed to make benefits administration more efficient. while helping employers effectively communicate the value of the benefits they offer to employees. The benefits management tools simplifies tasks such as: Open enrollment, employee communications and benefits administration and most importantly-payroll. The system should also provide details and summaries of employee demographics and utilization data.
Additionally, all of the employee personal information ¬should be accessible by mobile device. Employees should offer their employers the ability to instantly retrieve pertinent details about their coverage. Employees should be able to interact with the program to get answers and make decisions on coverage and other benefits. This also includes access to their own payroll, history etc.
According to many, HR software is becoming more employee-centric. The availability of employee portals is growing. Look for more functionality that’s targeted towards employees; for example, access to personal pay history, personal
benefits, bank account details, attendance and timesheet data, and absence planning and reporting.
A good system should make shopping for healthcare and benefits like shopping for any other product online – informative and intuitive. As employees shop for benefits, a virtual shopping cart tracks their benefit elections and displays the distribution of costs.
User-friendly plan comparison tools and engaging decision support features are incorporated within the enrollment workflow to help employees understand the true value of their coverage beyond the price of the premium.
Benefits of Payroll Software
If your company is tracking employee information and processing payments manually, payroll solutions could save you time, money and a lot of headaches by mitigating compliance risks.
The biggest and most obvious benefit of payroll management system is that it saves time, which, in turn, saves money. These solutions are designed to be highly intuitive, so the learning curve to set up and operate basic paycheck software is very low.
These time savings add up. For instance, when a manufacturing firm [name left unsaid] implemented a payroll solution after having run payroll manually for years, the company’s HR manager said, “What used to take almost an hour takes 10 minutes”
Increase Accuracy and Decrease Risk
Additionally, these systems help companies ensure they remit the correct amount of paycheck-related taxes and file applicable reports on time. When running payroll manually, even an honest mistake, such as a multiplication or rounding error, can have significant effects. In fact, a 2012 study, ADP found that one third of mid-sized companies incur penalties for noncompliance. These solutions will complete tax filings and reports for you, and remind you when they’re due.
And simply keeping up with the changes to the tax code is a daunting task. These systems track these changes so you don’t have to.
Paycheck processing solutions allow you to track information over time and quickly produce useful reports for internal decision makers, accountants and auditors. Examples include summaries of quarterly costs, annual tax remittances, and historical employee participation in 401k programs, etc.
Lastly, Look for all electronic (paperless) solutions for delivering payroll and benefits information. This will be much more cost effective and appreciated in the long run.
If you can put this all together for YOU and YOUR employees-Life will certainly be good!