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How to Build a More Efficient Payroll Management System

Woman holding money

At the end of the day, people work to make money which is why your payroll system is one of the most important aspects of running your business.

By having an efficient payroll management system, you’re ensuring that your employees get paid accurately and on time, resulting in fewer disputes between employees and upper management. 

Fortunately, a working payroll system doesn’t have to be complicated. In fact, the more simple you can make the process – the better. If your business is looking to overhaul its payroll system for a better process, use these tips below.

Ask Your Employees

This should seem obvious, but asking employees what they need when it comes to payroll is something many business owners overlook. When reworking an existing system, it’s important to ask your employees what they like about the current system, what they don’t like about it, what they would like to see improved, etc. Often, many payroll management systems also handle expense reporting, employee surveying and other services. Ask them about everything and see how you can build your plan around what they need.

Be Transparent with Employees

If you have an open and transparent system regarding wages, time off, benefits and other policies, you’re likely to deal with less HR-related disputes. Employees need to know when they are getting paid and how much. And, if any changes happen in regards to their wages, they need to know immediately. An efficient payroll management system also allows employees to have access to their accounts whenever and wherever. Many payroll software programs offer smartphone apps and other capabilities that make transparency even easier. 

Do Payroll Online

In today’s digital world, there’s no reason HR shouldn’t take advantage of the ways technology can make their lives easier when it comes to payroll management. We suggest finding a unified and secure database that employees can access easily from their laptops and/or phones. By removing paper, Excel sheets and other commonly-used payroll tools and moving to a more centralized database, you’re leaving room for less error and creating better transparency with employees. No matter your size or budget, there are countless software options to choose from that will cater to your needs. 

Have some more tips to add? Share them with us on Facebook! And check back each week for another edition of #TuesdayTips.

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