Payroll glitches frustrate your staff members, create hassles for your HR team, and can cost you significantly. If you commit a compliance violation, you could owe a fine and back wages. 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 accuracy and prevent mistakes.
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, inaccurate PTO tracking, and data entry mistakes. With an automated system, employees punch in and out with a physical time clock, web portal or mobile app. The system creates virtual timecards and calculates hours in real time. It prevents both intentional human error and deliberate employee time theft.
But accuracy is not the only benefit of automation. It also saves time (and money) by allowing your HR team to be more productive. WorkforceHub from Swipeclock takes the human error out of the payroll equation. WorkforceHub includes automated time tracking and payroll data import.
2. Outsource Payroll
Take advantage of the expertise of a payroll provider who has earned the trust of organizations in your industry. Outsourcing will reduce your audit liability substantially and simplify HR operations.
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.
Consider an HR system that can solve these problems. Swipeclock offers WorkforceHub, the Human Resources Management System (HRMS) that improves payroll accuracy while streamlining HR workflows. Contact us today to request a demo.
Or are you interested in becoming a reseller? Check out the Swipeclock partner advantage now.
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