As an HR professional, you don’t need to deal with complicated payroll tasks.
However, it would help if you made sure that your employees are paid since you’ll be dealing with their complaints.
To ensure smooth functioning, you need a system that streamlines payment processes while keeping up with compliance.
Interestingly, most HR software solutions come with a payroll module. However, if yours doesn’t have one, you should consider talking with your software vendor to see if it can be added.
There are many advantages to having payroll software integrated with your HR system. You can choose to customize the system, cut down on menial tasks, smoothen your onboarding process, and ensure quick and accurate payments.
These are some of the features your payroll software must have
It must process various facets of payroll, including timekeeping and overtime pay rates.
To help banks disburse payments directly to workers’ bank accounts immediately.
The best payroll solutions will automate calculations and file taxes.
Payroll solutions must have robust compliance measures. Since the local, state, and federal tax laws are changing, the automated system ensures your company is always complying with laws.
This will help employees fix any mistakes with their data and input their time attendance.
Accounting functions will help streamline the entire finance process and open your teams up for more collaboration.
As an HR professional keeping an account of all payroll tasks seems tedious. Inputting data, handling leave requests, and sorting through overtime submissions can eat up a big chunk of your time. However, if your payroll processing system is integrated with other HR systems, it can determine how many hourly employees get paid.
Moreover, payroll employees won’t be required to calculate taxes and deductions manually as the payroll system will do it automatically. It will also send out automated emails and remind managers to approve employees’ time. So your finance staffers don’t need to chase people down.
As a payroll professional, you are often faced with a barrage of questions when employees receive paychecks.
You would want to know why numbers change and where their money is going if it is not going straight to them.
So, how can this issue be solved?
Payroll solutions offer self-service options that will help you decrease the questions your Finance department receives.
With best payroll software, employees will be able to access payment information, stubs, and W-2 forms.
Moreover, if the payroll information is incorrect, employees can contact payroll or HR to get it fixed.
An automated payroll system will help improve the experience for new hires. As a new employee, you can use the self-service options and upload the necessary forms directly to the system.
Thus, you would no longer need the HR department for processing forms.
Instead, the forms will be present in the system and can be edited if needed and immediately used for payroll.
This will also help the HR team also focus on the important parts of onboarding.
Your employees love working for your company; they demand that they are paid correctly on time.
A solution to this is the direct deposit function in most payroll solutions. Since people get their checks immediately, they need not make a bank trip to deposit a check.
Self-service portals ensure that workers get up-to-the-minute info on when their money will be available.
Automated payroll processing also helps reduce human errors.
Keeping track of every local, state, and federal tax law that governs employees’ paychecks is a tough job. You need to stay compliant, but the fast-changing laws can make it seem impossible at times.
Interestingly, payroll software monitors these laws that ensure all your deductions are accurate and lawful.
This helps ease the burden on your payroll employees. Moreover, they no longer need to monitor compliance requirements as closely. At the same time, they should still review updates regularly to keep everything running smoothly.
These were a few benefits a payroll software can offer to the HR.
Did we miss out on any benefit? Let us know in the comments below!