Payroll screw-ups frustrate your workers, 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 processing payroll in-house and want to increase the accuracy of their methods.
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. Swipeclock Workforce Management Suite from Horizon Payroll Solutions takes the human error out of the payroll equation.
2. Outsource Payroll
Take advantage of the know-how of a payroll service provider who has earned the trust of organizations in your industry. Outsourcing will reduce your audit liability substantially and expedite HR operations at your company. Worried that your business can’t afford to outsource payroll? Consider the big picture. If you are currently cutting checks for staff members, computing withholding amounts, reconciling data, filing the needed tax forms, and tracking PTO and overtime, how much time does this take you? What is that time worth?
Perhaps you have a payroll 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 affect your company? Do you have an effective document management operation at your organization? These are critical questions for all employers to look at.
Horizon Payroll Solutions offers WorkforceHUB, the unified Human Resources portal that makes it easy to optimize the performance of your managers, employees, and organization.
WorkforceHUB includes TimeWorksPlus, TimeSimplicity, TimeWorks Mobile, and ApplicantStack. We’ve just added recruitment, onboarding, benefits enrollment, performance reviews, and employee engagement! WorkforceHUB is developed for busy employers like you who need to reduce cost-per-hire, streamline scheduling, automate time tracking, maintain regulatory compliance, and lessen labor costs.
How much can you save? Check our Horizon Payroll Solutions ROI Calculator.
We can get you up and running with Swipeclock Workforce Management Suite in minutes. Contact us today to schedule a demo.