A finance expert, John Galvin once said that payroll should be regarded as a critical function and a top priority. Over the years it has become clearer why Galvin made that statement. His reasoning agrees with what Frederick Taylor propounded in his scientific management theory which argues that the way to increase employees’ motivation was through good pay and frequent and consistent salary increases.
Reasons why businesses and organisations should regard payroll as a critical function isn’t farfetched. Since payroll is also an area that is susceptible to fraud and demands careful management of highly confidential information, getting an advanced payroll system that ensures timely paychecks and seamless solutions is paramount.
This is important as ensuring payroll is one hundred percent accurate sustains and develops employee morale. Also since compliance is critical, as regulations continually increase in volume and complexity, getting an advanced payroll system is key. Advanced payroll systems are poised to bring efficiency and accuracy to areas where even the minutest mistakes could have great implications.
For example, a fast growing business that was previously handling payrolls manually gained an increase in employees and other areas leading to an overwhelming experience. Due to the sudden surge, errors are detected in overtime calculations for employees as well as mix up in tax filings which created anxiety in the workforce.
As overwhelming as the situation was, after switching to an advanced payroll system, not only were the errors greatly minimised, but administrative burdens were put off. This is what choosing an advanced payroll system does- tracking hours automatically, including integrating directly with benefits management. If you can imagine moving from a manual car to a fully automated vehicle which ensures a smooth workflow that is faster, more efficient and without errors, then you can imagine the ease advanced payroll system offers.
The fascinating thing about advanced payroll is that it is not focused on just numbers, employees’ morale is boosted.
For instance, performance based bonuses that could have been calculated manually by the HR are now distributed through an advanced system which tracks KPIs and immediately rewards the top performers. Imagine a work environment where employees get their compensation in time which can lead to a transparent and a culture that is rewarding.
Can you imagine an HR software like Workflows HR which provides seamless payday. From automating faultless payments and pay slips, tracking work hours, error-free calculation, and enhancing compliance checks, to easy-data insights effortlessly managing customer data, and increased satisfaction? It is possible!
Envision HR software that not only simplifies your procedures but also entirely changes the way you oversee your employees. It relieves your HR team of tedious, repetitive duties by integrating performance management systems and automating onboarding, freeing them up to concentrate on strategic projects like employee engagement and development.
Consider it like going from a simple calculator to a smartphone; both can perform calculations, but the sophisticated device has many more features. Say goodbye to tedious manual math calculations and worry-filled deadlines! It’s similar to having a round-the-clock HR department making sure workers get paid on time and correctly each and every pay month.
