Payroll disputes can hurt employee morale and make them question the company’s credibility. If employees want to deal with the problem, they are going to spend their time away from work. This will also burden the person in charge of the payroll because they need to check it again manually and then decide how to resolve the issue. This is one of the reasons why companies need an automatic payroll system.
Nowadays, companies tend to use any technologies to help their works. Falling behind on core technologies usually means falling behind the competition and payroll is no exception. Technological development built to speed up manual processes. So, the HR department can focus more on wider strategic goals and people management.
A paycheck is not just the product of the payroll process. It is more than that. It’s the employees’ livelihood. Because of that, the process of getting a paycheck is very important. There can’t be any error on it. If your current payroll process is still manual, there will be a lot of risk than just employees who report their inaccurate paycheck. So, what are the signs that it’s time for your company to upgrade to an automatic payroll system?
As said before, failing to adopt the latest technology can make your company falling behind competitiveness. You need to stay on top of your competition and that includes using the latest technology on the payroll too. With an automatic payroll system, your company especially HR department can make better processes for payroll. So, your HR department doesn’t have to manually calculate payroll every month.
Eliminate Inaccurate or Late Paycheck
Inaccurate or even late paycheck can impact employees’ retention and employees’ value on the company. This is why payroll calculation can’t be wrong and need to be on time. At the bare minimum, employees expect to be paid accurately and on time. Because if they get paid inaccurately they might spend their time asking HR or the person in charge of payroll to correct their payroll. If the company late on paying the payroll, employees might find it hard to motivate themselves to work.
Integration With Other Systems
The research from Access Group about Guide to Payroll in 2020 shows that 93% of payroll managers believe up-to-date software is ‘essential’ to the running of their department. Often, payroll sits between HR and finance, and these two departments often reporting directly to each other. A centralized platform is important for any business that wants its payroll process error-free and can be integrated with another system such as an accounting system. Because the payroll process is not only on HR department responsibility.