Our job market today is so competitive, that’s why employee satisfaction is important.

Responsive payroll processing is one of the most effective means of improving employee morale and trust. This system also ensures that payroll is accurate and processed on time, and these two factors are essential for keeping a happy and productive workforce.

In this article, we’ll discuss the advantages of responsive payroll processing, and a look at how The Payroll Company takes advantage of this technology to improve the satisfaction of both the employer and employee. And we can guarantee you that this is something that would sit well with everyone!

Increased Payroll Accuracy

The Challenge

Employee wages, benefits and payroll taxes are the largest expenses incurred by most companies.

Common errors in the biggest company outlays include: mis-salaried employees, mis-levied taxes, incomplete recordkeeping, and mis-processed garnishments.

Batch processing: Traditional payroll systems work on the basis of batch processing, which can result in a multitude of errors and discrepancies.

Those errors can lead to underpayments or overpayments, frustrating employees and creating avoidable costs for companies.

The Solution

The Payroll Company efficiently and quickly processes payrolls while also maintaining all payroll information up-to-date.

Functionality such as our user-friendly garnishment wizard guide payroll administrators through a simple yet compliant deduction set-up process.

All of this means that any changes in taxes, deductions, overtime hours or bonuses can be immediately visible to payroll processors in the payroll system — instantly, there are no lengthy back-and-forth to enter these items into the payroll system, drastically reducing risk and costly mistakes.

Fact: The American Payroll Association states that automation can decrease payroll processing errors by 85%.

Enhanced Employee Trust

The Challenge: Everyone knows that employer and employee must trust each other. Mistakes or delays in payroll can undermine this trust, resulting in lower morale, and higher turnover.

The Solution: The Payroll Company provides responsive payroll processing to ensure that employees can be confident in the accuracy and timeliness of their paychecks. This is made possible by the online employee login acount features that enables employees to view their present and past pay statements at any given time and anywhere where there is internet connectivity. The system enables a system that is fair, accurate, transparent, and verifiable, building a level of trust and confidence between the organization and its employees.

Did you know: According to a recent study, 92% of employees said on time and accurate payroll is a key driver of their job satisfaction.

Timely Compliance Updates

The Challenge: With modifications to payroll regulations and taxes, true-to-form cannot be a painful process. Wait times to align current payroll systems to account for new laws and taxable wage reporting could lead to non-compliance and, in some cases, massive fines.

The Solution: The Payroll Company responsive processing offers automatic tax and legislative updates and integrated time collection to make sure your payroll is always compliant with the latest rules, laws and regulations. This helps us ensure compliance and avoid the consequences of not being compliant.

Improved Employee Engagement

The Challenge: Those who experience payroll issues always and almost always become disengaged, at least in the short-run taking a hit on productivity and in the long-run prospects of their overall job satisfaction.

The Solution: Responsive payroll processing guarantees that employees receive their accurate paycheck every time when it’s due. This reliability facilitates increased engagement and satisfaction as employees have fewer reasons to take their mind off work — whether that be due to frustration with payroll errors or uncertainty surrounding pay schedule.

Fact: Organizations with very engaged employees outperform their peers by 147% in earnings per share according to recent survey.

Integrates with existing HR Functions Smooth

The Challenge: When payroll and HR functions rely on different systems, employees are often forced to input information in multiple places, which creates data silos as well as inefficiencies that always affect the company’s bottom line. Handling payroll independently from other HR functions is both labor-intensive and error-prone.

The Solution: The Payroll Company ensures responsive data flow and one-time data entry across the system by integrating payroll with other HR functions. Offer letters, direct deposit details, withholding and all other inviting documents can all not only be filled out electronically, but once a brand new employee is hired, all of this data can also be entered electronically. This seamless integration not only enhances efficiency and reduces administrative burden, but also ensures that all employee-related data, no matter who is looking at it, is accurate and up to date.

Final Thoughts

It’s important to understand that responsive payroll processing isn’t merely a technological enablement; it stands to be a valuable driver of employee satisfaction and trust.

With The Payroll Company, payroll management goes from being simply a transactional activity to a strategic asset for your organization by ensuring payroll accuracy, compliance in time, and integration with HR functions. So modernize connections in payroll processing and enjoy the bliss of a happier and engaged workforce.

Let’s Talk!

Contact us today to automate your payroll process with The Payroll Company!