Payroll is one of the most time-intensive tasks an HR team can take on. While it may look straightforward to the casual observer, you know payroll can become complex quickly.
Many HR managers like yourself are looking for payroll solutions to help them manage payroll more effectively and save time.
What is payroll software?
These software solutions are specially designed to help you and your HR team save time on payroll. If you can finish payroll sooner and still get accurate results, you’ll be able to free up time for other important HR tasks.
Here are a few of the payroll solutions you can consider for your business.
1. Self-Service Payroll Solutions
One of the things any HR manager should look for when they seek out new payroll software is self-service options for employees and managers.
Why is self-service so important? It allows employees and managers to enter and maintain their own information in an online portal. Instead of having your HR team spend time collecting and entering the data, the task can be passed back to the people who know it best.
You can then verify the information’s accuracy. Employees can also check the system for information on withholding, their tax forms, and even when they can expect to be paid next.
2. Complete Tax-Related Services
Some payroll solutions offer you only so much when it comes to tax withholding and remittances.
Look for software solutions that offer you complete service when it comes to your tax needs. This way you won’t be left high and dry come the end of the fiscal year.
3. Look for an Integrated HCM System
If you’re going to splash out and get new payroll processing software, why not consider getting a full-fledged human capital management system?
An HCM system is more robust and can assist you with more than just payroll. This type of software solution helps you manage almost every HR activity your business completes. Whether it’s hiring or scheduling, HCM solutions can help you streamline HR.
If you’re contemplating HCM, be sure to choose one that can help you automate the transfer of data between programs. This will save you the most time.
4. Third-Party Managed Solutions
Another popular type of payroll solution involves not just software but outsourcing to a team of experts to manage payroll.
When you opt for new software, you may have the option of outsourcing your payroll activities to a third party. As far as payroll solutions go, this is one of the most robust. It will likely save you the most time as well.
Turning your payroll activities over to a team of experts frees up your own team. It also means your payroll will be administered more efficiently and with fewer errors. You can sit back and relax knowing you have a team of experts handling this task.
What Solution Is Right for You?
Obviously, there’s a good deal of choice when it comes to payroll solutions for your business. If you’re hoping to free up the HR team’s time, there are many different ways to do it.
The question you’re likely left with is which solution is right for your business. Every business has unique needs, and there’s a solution that’s right for you. When it comes to payroll solutions and software, look for options you can customize to better suit your needs.
If you’re still not sure what solution would best fit your needs, talk to some providers and learn more about what they can offer you. There’s never been a better time to start saving time.