How To Streamline Payroll For Business and Keep Your Employees Happy

stack of coins beside a calculator

Did you know it takes the average payroll clerk about seven minutes to process a time card? If you have 100 time cards, it would take almost 12 hours to process them all.

It’s no secret payroll can be time-intensive. It’s also quite complex, as you’ll need to calculate deductions, taxes, benefits, and more for each employee.

It’s not surprising that business owners spend a lot of time wondering how they can streamline their payroll. Luckily, there a few things you can do to make the process easier.

1. Streamline Payroll by Using the Right Tools

If you opt to use an in-house system for processing payroll, then you should look at the tools you’re using.

There are quite a few innovative payroll tools on the market. You may want to take a look at new payroll software or a payroll calculator.

You should make sure you can integrate other tools you’re using. These might include time-tracking software and benefits administration solutions.

Connecting these tools reduces the amount of data entry you need to do. When it comes time to calculate payroll, you already have everything you need.

2. Reduce Payroll Frequency

If you do payroll weekly, it’s little wonder you’re feeling the strain. You can streamline your payroll tasks by reducing how often you conduct payroll.

You may think your employees will be unhappy, but most would rather you have payroll done the right way. If you’re always making mistakes or paying late because you ran out of time, they’re probably not very happy anyway.

Making the switch can help you by relaxing payroll deadlines. When you’re not rushing, you’ll be less likely to make mistakes. In turn, your employees will be happier with their correct paychecks.

3. Streamline Payroll by Teaming up

If you want innovative payroll solutions, then you should think about teaming up. A payroll provider may be the answer you’re looking for.

Payroll outsourcing can save you time, frustration, and money. A team of payroll experts will use the latest tools to complete your payroll. Since they know their stuff, they’ll be able to get it done faster.

It will also be done correctly. Payroll providers tend to make fewer mistakes, because they’re so familiar with the rules.

Working with a provider ensures your payroll is completed on time. It also frees up your time so you can get back to the things that matter for your business.

4. Use Technology to Generate Reports

Another way innovative payroll processing can help you is through data collection. With the right data, generating reports is easier than ever.

Instead of spending hours preparing reports for various tax bodies, you can get what you need with the click of a button. You can also use this data to power decisions about your payroll processes. Could you streamline the process more by cutting a repetitive step?

Better Business Practices Fuel Growth

Making changes to streamline payroll can be quite simple. With these tips, you’ll be well on your way to better payroll and happier employees.

Looking for more great business tips to keep everything running smoothly? We have how-to’s for just about everything you can imagine.

 

Share this article!

Follow us!

Find more helpful articles: