Employee engagement plays a large role in the
success of a company. Keeping their workforce motivated in some way or the
other makes they achieve their Targets in no time. Various studies have shown
that motivated employees tend to go beyond their duty when performing their
regular duties. These days when talent shortage is leading to employees jumping
jobs, it has become quite imperative to retain good talent, and also ensure
that they are motivated in doing what they do every day.
Payroll is one of the main motives of employee
engagement and retention. It is one of the main reasons employees are motivated
to perform on a consistent basis. If the payroll process in a timely manner it
can greatly increase the employee morale. Thus the main motive of employees for
getting a business payroll service is to avoid mistakes
that usually happen with payroll and ensure timely payment every single time.
Errors in setup
Sometimes the mistake happens right at the
starting line with the payroll information being incorrectly added to whatever
system is in place. This mistake can affect a range of items such as tax
withholdings, wrong salary as per designation, etc.
Not storing information correctly
Are you in the habit of writing manual checks
to your employees? While the practice itself is fine, many employers often
forget to log the payment into their system so it stays updated.
Incorrect or not making timely
Taking tax funds from both your employees and
business is a complicated process. There’s a system in place that mandates how
and when you need to take those withdrawn funds and deposit them appropriately
based on your corporate tax liabilities. Not knowing the process can put you in
Late payroll processing
There are tons of activities going on at any
point of time so there might be slip ups. But not in the case of forgetting
paydays of employees. It could have a major impact as forgetting to process payroll
leads to unhappy employees and potentially costly mistakes. At times companies
end up either underpaying or overpaying employees in their rush of payroll processing. They need to further spend
extra time making corrections, and even face fines. Avoid these mistakes by
using a payroll service to remind you of deadlines and catch mistakes.
Employees may either quit to change jobs or
they might be fired. In such cases, few regions require employers to give the
departing employee his or her final paycheck in a fairly short amount of time
usually on the same day. Even if you don’t expect any employees to leave, be
prepared by checking the rules in your state.
Anyone can fall prey to these top five
offers customized payroll processing services designed for companies of every
size and scope. Partnering with us means we do all your payroll heavy lifting
so you can focus on your core business responsibilities.
By outsourcing your business’s payroll services to a
payroll services provider, you can increase employee engagement with
self-service onboarding and benefit enrollments.
By outsourcing your business’s payroll
services to a payroll
services provider, you can increase employee engagement with
self-service onboarding and benefit enrollments. With today’s technology,
employees can view their time clock, submit and view their PTO requests and
balances, and participate in open enrollment periods for benefits, all from a
computer. By engaging employees in this way, they feel more empowered and
studies show they are likely to continue their careers with a company for longer.