Payroll pain points, and how you can solve them
Many HR pros who are in charge of payroll report they haven't taken a proper vacation in more than five years. Why? Because they fear payroll won't get processed correctly while they're away. It's a big problem that can seriously erode work/life balance. The fact is, payroll processing has long been a challenge for HR.
Let's look at some common payroll pain points and consider some solutions to make your life easier.
Common payroll pain points
Manual processing. This is the mother of all HR headaches. Paying your people for their hard work, calculating their earnings, withholding all of their various deductions, and filing accurate payroll taxes is an enormous undertaking. And there's a lot that can go wrong. Even small mistakes can result in big tax penalties. Larger companies may hire someone within HR to be the payroll processor, but at many companies HR is often a one-or-two-person department. The sheer time spent on this task alone can prevent you from focusing on other things. Compliance and tax issues. Tax laws can and do change often, and unless you're on top of those changes, you could be risking compliance fails and the hefty fines that come with them. Calculating pay for employees whose hours vary. This can be tricky, but it is also an issue when it comes to payroll complexities such as shift differentials, weighted average overtime, and prevailing wage. Garnishment. This is a serious administrative challenge, making sure garnishments are applied, checks are accurately cut and forwarded to the appropriate agency.
How an HRIS can help
We understand employees' paychecks need to arrive on time and be accurate, every time. In this age of increasing complexity, with new tax and compliance regulations popping up, processing payroll manually just won't cut it anymore.
A comprehensive payroll solution automates and streamlines all aspects of payment processing into the HRIS, allowing you to focus on other things. Some of our payroll features include: Customization. Customize your payroll solutions to your needs and align them with your processes. Tax processing. Streamline this tricky function that's so easy to get wrong. Garnishment. If the government needs to garnish an employee's wages, an HRIS can handle it seamlessly and discreetly. Data analysis. An HRIS gives you vital information about payscale and compensation. Employee self-service. Employees can manage their own direct deposit information, change their withholding, or add insurance coverage themselves, so you have more time to spend on what matters. If your cumbersome payroll processing is slowing you down, it's time you got a payroll upgrade. Let Benetech take the stress out of payroll processing for you.
To learn how The Simplicity of One® - one team and one technology, servicing all HCM and benefits needs – can help you today, contact us.
