2019: A time to re-evaluate your payroll

Featured Blog Post written by Creve Coeur Workspace Tenant, AccuPay
Contact: 636-532-9510 or payday@accupayhcm.com
The start of a new year is a great time to review your business processes and re-evaluate those that are causing bottlenecks. For many growing entities, outsourcing payroll and Human Capital related services can eliminate an enormous burden including repetitive tasks such as: paying employees, tracking time and PTO, hiring, on-boarding and even benefit enrollment. Outsourcing your Human Capital Management can also eliminate the risk of penalties and fines for tax filing errors, late payments, compliance, etc.

In a world where accessibility and convenience are expectations, 2019 is the perfect time to engage and empower your employees with a web-based employee portal and mobile application  to give them access to their personal pay information anytime, from anywhere. Employees want the ability to view/print pay-stubs, view PTO balances and request time off, request changes to their personal information, view benefit offerings and enroll electronically when eligible. Empowering your employees with these tools will relieve you of time-consuming processes that are typically involved in keeping up with on-going employee maintenance. 

Ask yourself these simple questions to determine what areas of your Human Capital Management process can be streamlined by a web-based single source solution.

Payroll

• Are you writing checks by hand each week to your employees?
•  Are you manually calculating taxes and deductions?
• Paying your own taxes to respective tax agencies?

Human Resources

• Do you have trouble tracking your employee’s raise dates, salary history, certifications and expirations?
• Are you constantly updating employee information such as direct deposits, addresses and withholding exemptions?
• Are you throwing away money by printing employee pay-stubs?

On-boarding

• Are you printing new hire paperwork to be completed by hand?
• Do you have accurate, complete, and consistent files for each employee?
• Are you collecting employee acknowledgements for notices and documents by hand?
• Do you have to remind your managers and supervisors to complete processing new hire paperwork in a timely manner?

Timekeeping and Scheduling

• Do you find yourself manually tracking and calculating employees time?
• Are you handwriting schedules each week?
• Do your employees request time off on post-its or other easily misplaced notes?

Benefits Enrollment

• Do your employees manually complete enrollment forms?
• Do you find yourself entering benefit enrollment forms to your carrier?
• Have you ever missed an enrollment window for a new hire or an employee with a qualifying life event?
• Do you find yourself manually creating a benefit summary for each of your employees?

If you are considering outsourcing one or more of these areas, be sure to consider the following while you are shopping for a trusted provider.

1. Web-Based/Cloud-Based: Consider a provider that offers a web-based platform that is accessible anywhere. The convenience of opening a browser (from the comfort of anywhere) and logging in to the latest and greatest without having to maintain your own software updates is highly desirable compared to desktop software with limited access, involved update processes and little to no integration with other systems.
2. Account Managers and Level of Support: No matter how tailored a platform is to your company’s needs, nothing can replace the value of a dedicated Account Manager that is available when you need support. When your company utilizes an Account Manager you will notice an increased confidence level as well as general system knowledge that will greatly improve your user experience.
3. Provider Compliance: When it comes to payroll and other Human Capital Management Services it is imperative to understand your provider's compliance standards. If your provider cannot elaborate on industry compliance or certifications, you may want to consider a change. Remember, even if you have outsourced your payroll, human capital management and tax services, the business owner is still responsible in the event the provider has failed to perform reporting and filing services.
4. A la Carte Menu of Services: Smaller businesses that are beginning to outsource services will without a doubt see the value in a provider that provides an a la Carte service model. Far too often business owners find themselves paying for a wide book of services and only utilizing one or two modules. This model is not only cost effective, but scalable and adaptable as your business evolves with the ability to add only the services you need.

When it comes down to it, choosing a Human Capital Management provider is no small task and there are many to choose from. Whether you are considering outsourcing or you already are, it never hurts to review your options. Consider  AccuPay HCMTM, a fellow CCW tenant! AccuPay HCM™ has been providing payroll and Human Capital Management services for over twenty-seven years to clients in 48 states and the District of Columbia. AccuPay HCM™ offers a web-based single source database solution and one on one dedicated support.  Give us a call today to schedule a no cost, no obligation Needs Analysis to see how AccuPay HCM ™ can help! Our Needs team will help you evaluate your business’ needs and make service recommendations that make sense with your budget and goals.