Consider the following questions: Is your payroll operation affecting your employee's experience? Do you struggle with payroll demands?
Businesses commonly neglect the influence of payroll on people's daily lives, yet it is a significant element. If the employees aren't happy, they'll rather find something else.
In reality, after a few payroll issues, 49% of workers will look for new employment.
Having a reliable payroll partner helps companies improve their employees' experience and retain great people. A good company with an efficient, reliable payroll service will attract and retain the best employees.
So, when you consider the sheer importance of paying employees correctly in today's digital world, along with current expectations for electronic services at our fingertips, getting it right is not an option. It's mandatory.
However, it's difficult to meet payroll demands while ensuring the best possible service to employees at the same time. Seems impossible, right?
It requires a careful balance of both – meeting payroll demands and providing the best possible service; otherwise, we may not retain good employees.
1. Payroll Documents & Digital Payslips
Employees nowadays want their payslips and payroll records electronically delivered as requirements fluctuate, and digital business procedures expand.
Employee's value digital documents more than paper records, and they are far more effective for those who send them.
You may save a lot of time and money each month by ditching your printer and envelopes while simultaneously improving the staff experience.
According to the Chartered Institute of Payroll Professionals (CIPP), eliminating paper payslips may save businesses money: "There's no need for printing or postage costs and you'll probably save money on payroll staff time too."
2. Employee Self-Service
Employees appreciate the ability to handle their payroll matters without relying on someone else. Allowing employees to access their records and submit changes through a self-service portal can save time and money.
It also gives employees a sense of control and responsibility for their work lives. It can lead to a more positive attitude and increased productivity in the office.
According to a study, self-service portals can save businesses up to nine hours per employee per year. It is mainly due to reduced calls to the payroll or HR departmen
When considering self-service options, it is essential to ensure that the system is easy to use and provides all the information employees need. If it's not, you'll see even more calls to the payroll department!!
3. Integration & Automation
Integrating your HR sub-systems will bring you great benefits. It provides a simple way for you to keep employees up-to-date on changes like wage rates, updates on deductions and tax, and other important information.
It also enables you to save money by avoiding the need for multiple systems and third-party payroll service providers.
Automating your payroll process frees up time for your team to focus on other tasks. It is one of the most significant benefits of an automated payroll system.
Companies can automate more than just their payroll process but certain HR functions. It helps to reduce the time and effort required to complete routine tasks.
For example, essential payroll updates such as salary adjustments or deductions can be automatically processed with the automation of your payroll.
4. Employee Engagement
An employee engagement survey is a great way to get insights into your employees' experiences and views of your business.
The survey can help you understand whether the company's values and goals are aligned with what employees want and reveal any areas that need improvement.
It is why it's essential to provide time for your employees to complete the survey and explain how you'll use the information.
5. Cloud Functionality
Cloud-based payroll systems are becoming increasingly popular due to their many benefits.
They offer a secure and convenient way for employees to access their records from any device or location. It is perfect for those who often work remotely or travel for work.
Cloud-based systems also make it easy for employers to keep track of employee changes and updates. It helps to ensure accuracy and compliance with regulations.
In addition, cloud-based systems provide a disaster recovery solution in case of an unexpected outage or data loss.
Preparing for the Future of Payroll
As the workplace evolves, payroll must adapt to keep up. Brain payroll software can help you maintain compliance, reduce costs and provide your employees with an improved experience.
Get in touch with us today for more information on how Brain Payroll Software can benefit your company!