Finance and Law

7 Ways To Improve Payroll Efficiency

<p style&equals;"text-align&colon; justify&semi;">Did you know that 82 million American employees are affected by <a href&equals;"https&colon;&sol;&sol;www&period;zenefits&period;com&sol;workest&sol;payroll-stats-small-business&sol;&num;&colon;~&colon;text&equals;Just&percnt;20Cash&percnt;20Money-&comma;82&percnt;20million&percnt;20U&period;S&period;&percnt;20employees&percnt;20&percnt;E2&percnt;80&percnt;94&percnt;20or&percnt;2054&percnt;25&percnt;20of&percnt;20the&percnt;20American&percnt;20workforce&comma;two&percnt;20issues&percnt;20with&percnt;20their&percnt;20paycheck&period;&amp&semi;text&equals;Payroll&percnt;20mistakes&percnt;20occur&percnt;20twice&percnt;20as&comma;11&period;4&percnt;25&percnt;20vs&percnt;206&period;1&percnt;25&percnt;20respectively&period;" target&equals;"&lowbar;blank" rel&equals;"noopener">payroll problems<&sol;a>&quest; This can cause a lot of issues for employees and your business as a whole&period; Luckily&comma; there are many ways to streamline payroll and make it more efficient&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Read on to learn about 7 ways to improve payroll efficiency&period;<&sol;p>&NewLine;<h2>Integrate Benefits<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">One way to increase payroll efficiency is by integrating benefits into the system&period; Because they are complicated to manage&comma; adding them to the payroll system makes things easier&period; This means no more entering employee data into multiple systems that could lead to errors&period;<&sol;p>&NewLine;<h2>Use Automated Workflows<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">If possible&comma; you should use automated workflows to create efficient <a href&equals;"https&colon;&sol;&sol;newsforpublic&period;com&sol;benefits-using-hr-payroll-software-businesses&sol;">payroll services<&sol;a>&period; This way you will be able to get rid of manual data entry&period; Because manual data entry can lead to error and takes a lot of time&comma; it slows down the payroll process&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">You can try to use automated workflows for the following&colon;<&sol;p>&NewLine;<ul style&equals;"text-align&colon; justify&semi;">&NewLine;<li>Bonuses<&sol;li>&NewLine;<li>Pay errors<&sol;li>&NewLine;<li>Missing pay<&sol;li>&NewLine;<li>Overtime pay<&sol;li>&NewLine;<&sol;ul>&NewLine;<p style&equals;"text-align&colon; justify&semi;">One way to reduce errors is to combine your scheduling software with your timesheet software&period;<&sol;p>&NewLine;<h2>Create Checklists<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Another way to streamline payroll is by creating checklists&period; Payroll errors will happen whether you use automation or not&period; Checklists will help you cut down on mistakes and stick to one thing&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Checklists will help you break down processes so that you can accomplish goals easier&period; Sometimes&comma; you may have to consider cutting some processes and adding others to create a more efficient payroll&period;<&sol;p>&NewLine;<h2>Involve Employees<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Asking employees to get involved is important because payroll should not be all on you&period; You should especially include HR employees to increase HR efficiency&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Employees should want payroll efficiency because it directly affects them&period; One way to involve employees in this process is by onboarding&period; This means making new hires fill out necessary forms&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">If you have employee scheduling and hour issues&comma; consider using an app or another system that keeps up with the proper data&period; This can help eliminate overtime costs and reduce employee hour issues&period;<&sol;p>&NewLine;<h2>Connect Time Tracking<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Instead of tracking employee time in one system and exporting it to another&comma; connect the systems&period; This can help reduce errors&comma; confusion&comma; and data loss&period; It will also be easier to make changes when necessary&period;<&sol;p>&NewLine;<h2>Use Automated Payments<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">You can streamline payroll by using direct deposit instead of checks&period; This saves time and money because paper checks can be expensive&period; Not only that&comma; but they are also susceptible to fraud because they can get lost easily&period;<&sol;p>&NewLine;<h2>Use a Template<&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify&semi;">If your employees prefer a paper check and pay stubs&comma; use a template to ensure you get everything right&period; You can find <a href&equals;"https&colon;&sol;&sol;www&period;paystubs&period;net&sol;paystub-templates" target&equals;"&lowbar;blank" rel&equals;"noopener">check stub templates for your earning statements<&sol;a> online&period; These professional documents are convenient and can streamline the payroll process&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;"><strong>Improve Payroll Efficiency Now<&sol;strong><&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">The payroll department has to keep up with a lot of data and ensure it gets done right&period; If you are having trouble in this area of your business&comma; changes need to be made&period; Using this guide will help you improve your payroll efficiency by streamlining the process&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Keep coming back for more articles on a variety of topics&period;<&sol;p>&NewLine;

Hardik Patel

Hardik Patel is a Digital Marketing Consultant and professional Blogger. He has 16+ years experience in SEO, SMO, SEM, Online reputation management, Affiliated Marketing and Content Marketing.

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