How are payroll management services changing?
Payroll management services have changed significantly over the past five years. When was the last time you checked out the options currently available? You may be surprised to find the stressful, tedious tasks you’re still dealing with have been phased out by modern technology. Consider the following trends and decide whether you should revise your practices.
Payroll Administration Has Gone Mobile
Did you know programs today allow users to access data, make changes and run reports while they’re away from the office? When data is stored on the cloud instead of on-site, it opens up endless accessibility features. You can even handle these tasks from your cell phone. In addition, cloud storage allows for seamless scalability, easy updating and affordable data storage.
When finding a reliable cloud-based service provider, keep an eye on security and on support. Take a look at their payment terms, too. Make sure you work with someone who will be able to answer your questions without overcharging you.
End-to-End Platforms are Increasingly Popular
Instead of using one program for payroll, another for CRM and so on, companies are looking for solutions capable of doing it all. At the very least, they should be able to work together. Instantly swapping data from one program to another helps cut down on busy work, labor hours and it helps prevent human error.
The best programs will be compatible with all major business and accounting software. They’ll be easy (and affordable) to update. Finally, they’ll be capable of growing with your company.
Employee Self-Service Aids in Employee Engagement
Today’s payroll programs allow employees more control over their information. Most are relieved when this happens, because they don’t want to bother—or wait for—HR every time they have a question or need to make a small change. Study show ESS lends itself to improved job satisfaction, and the value of happy employees can’t be understated.
Smart setups balance access with control. For instance, employees may be able to check their enrollment in benefits programs and even make certain changes to address or social media accounts, but they would need to go through HR to get a loan on 401(k) savings.
As Technology Advances, Regulations Follow
Do your tools help you comply with current payroll regulations? Are you even sure? There were some big changes made for 2015 that could change how your bookkeeping works. Ensure you’re using updated software that makes fulfilling your obligations easy. There are products on the market now that greatly reduce your payroll risks, and most of them integrate with major business software programs.
Outsourcing is Easier, More Reliable and Has Bigger Benefits
Hiring out payroll work has changed too. Reliable companies exist that are servicing some of your biggest competitors. They give them access to affordable, upgraded tools. Their professionals know the new rules and are prepared for changes in withholding and deadlines. You can find a quality company with service plans to fit your budget, so get started today.
To take advantage of new payroll management services, contact our professional team at Einstein HR by calling 770-962-1700.