Payroll is an important aspect in any organization and enhancing it is a good start to save money and time. A few changes in the payroll management process can offer a lot of benefits to your organization.
In this blog, we a few best ways that help enhance payroll in your company.
Implement Digital Payslips
Printing payslips and other payroll related documents manually takes lot of effort and time. If your organization is still printing payslips and handing them out manually to your employees, consider sending payslips through email or even better through an HR management system that allows employees to easily access to digital payslips.
Enhance Time Tracking
Time and attendance data is the basis for generating payroll. In order to enhance payroll, integrating attendance information is essential. This is where most businesses usually spend the most time on for traditional payroll. To boost attendance integration, first, consider improving the method of employee time tracking.
If you’re still using manual spreadsheets or punch cards to track employees’ clock in/out, implementing a biometric device may help you reduce costly hours of your HR staff spending on encoding work.
If you’re already using a biometric device but still spend much time exporting data so you can use it for payroll computation. Then implement a robust solution that offers direct integration between your time tracking devices, and your payroll system.
Automate Shift scheduling
Implementing an automated time tracking system is usually not enough especially for businesses with employees whose shifts change from time to time. Without an automated system to manage employee shifts, finding whether an employee is late or early, absent or on leave, will be difficult.
Automating employee shifts not only make matching employees’ logs with their shifts easier, an advanced shift scheduling system help you streamline approvals for attendance-related requests such as time offs, overtime, and shift changes.
Simplify Payroll Disbursement
Calculating employees’ salary is not a major challenge for many organizations, but actual payroll disbursement is the key challenge. Businesses can enhance payroll disbursement by utilizing cash management systems offered by their local banks. These solutions typically allow businesses to schedule payroll disbursement and simplify approvals.
Contract a service provider to help in the payroll disbursement process, generally by giving them uploader/maker access to your cash management system – so there is no need to switch to another disbursement method.
This helps you save even more time, so your HR staff just have to approve transactions they have already reviewed and approved.