Payroll glitches frustrate your staff members, create hassles for your HR team, and can cost you significantly in unnecessary overpayment or penalties for compliance violations. In the past five years, business owners paid more than 1.2 billion in back wages due to payroll infractions.
Today’s post is for SMB owners who are currently handling payroll in-house and want to increase the accuracy of their practices.
The two most important steps you can take to reduce payroll errors:
1. Automate Employee Time and Attendance
Manual payroll methods continually present opportunities for inaccuracies—missed punches, deliberate time theft, unwitting miscalculations, failure to withhold the proper amounts, innacurate PTO tracking, and data entry mistakes. But accuracy is not the only benefit of automation. It also saves time (and money) by allowing your HR team to be more productive. Workforce Management Suite from SwipeClock takes the human error out of the payroll equation.
2. Outsource Payroll
Take advantage of the proficiency of a payroll service provider who has earned the trust of organizations in your industry. Outsourcing will reduce your audit liability substantially and simplify HR operations at your business. Worried that your organization can’t afford to outsource payroll? Consider the big picture. If you are currently cutting checks for workers, computing withholding amounts, reconciling data, filing the required tax forms, and tracking PTO and overtime, how much time does this take you? What is that time worth?
Perhaps you have an HR manager handling all things payroll. How much do you pay her/him? Is this person a payroll specialist? Does she/he vigilantly keep up with all changes to the myriad laws that impact your company? Do you have an effective document management operation at your organization? These are crucial questions for all employers to examine.
SwipeClock offers WorkforceHUB, the Human Resources Management System (HRMS) that makes it easy to optimize the performance of your managers, employees, and business processes.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, TimeWorks Mobile, and ApplicantStack. We’ve just added recruiting, onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB was created for busy employers like you who need to reduce cost-per-hire, streamline scheduling, automate time tracking, maintain regulatory compliance, and reduce labor costs.
How much can you save? Check our SwipeClock ROI Calculator.
We can get you up and running with WorkforceHUB immediately. Contact us today to schedule a demo.