The benefits of self-service payroll far outweigh the risks.
One of the latest services touted by PEO’s is self-service payroll systems, particularly web-based time clocks employees control on their own. Skip the paper punch systems of the past you need to enter into a system. Don’t make your employees line up like sheep at the start of the day. Give them the freedom to log on from their personal terminals. You’ll save money, manpower and you’ll avoid mistakes.
1 Independence Leads to Success
A self-service payroll system can include several modules, and they can be customized to suit your specific needs. Updating W2 forms or changing your address, checking your remaining sick days and clocking in and out every day don’t require much training. On the other hand, giving your employees access to their own accounts, and giving them the ability to make minor changes on their own, gives them a sense of independence and capability.
Workers who feel more confident often show more initiative and tackle tasks they otherwise wouldn’t. When you give your entire workforce an ego boost, you wind up seeing higher rates of productivity, fewer mistakes and a positive impact on your bottom line. However, your company can have more than just one source of financial benefit.
2 Self-Serve Products Eliminate Time Waste
Having your entire staff clock in at a designated terminal wastes time. It forces them to come in early and start their shifts by standing around. They chit chat, they aren’t focused on getting to work and they might feel resentful they’re spending personal hours on something your company could avoid.
In contrast, workers who come in at shift’s start and sit down to log in at their computers, knowing that logging in starts their day, are focused only on work. They aren’t stuck at the water cooler. They aren’t bored from the very beginning. This action-based mindset will lead to higher productivity rates.
3 Web Based Time Clocks are More Accurate at Logging Work Hours
You can configure your employee workstations to track work hours very effectively. With a time clock station, you sometimes have to take the word of your employees when they say they arrived on time and were working. If you fail to adjust or honor their time cards, you may be liable for shorting their pay or for breeding animosity in the workplace.
When tracking hours through activity – clocking someone in when they log on, for instance – you cut down on the chance of employees fudging their time sheets. There’s less of a chance they’ll give coworkers the passcodes needed to log them in earlier than they arrive when those codes also link to their private information.
Employers may worry about self-service payroll options increasing work hour fraud. The truth is, they can easily fake hours now any method you have for logging in and out during the day. When you’re dealing with a web-based program, you have increased security options to help keep people honest. The small risk you take is more than made up for by the real benefits you’ll put in place by allowing employees the opportunity to handle certain payroll issues themselves. Take advantage of them today.
Contact a professional PEO agency to set up self-service payroll for your business.