The Payroll process is one of the essential tasks in all business to maintain operation work well. This process is simple, but not always right, if you are not careful, leading your corporation to a nightmare.

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Tips for creating a better payroll management process

Although every business has different needs in their payroll, there are certain steps you can take that apply to most every company

Business can maximize their benefit from an improved payroll management process. However, knowing exactly what to change, how to improve that can often be challenging, just making random changes or installing new software is not the answer.

In order to improve your payroll process more effective, you must address your overall process, the technology you are using, and the best practices that need to be implemented.

Here are 5 tips to improve payroll management

Plan payroll schedules:

Many companies set up different pay schedules base on the class of staff such as monthly paydays for management class, and weekly, or bi-weekly pay periods for employee class. This can lead to errors in the payroll process.

Unify pay schedules help you prevent time-consuming, and data errors from the duplication of multiple processes.

Technologize your payroll process:

Make your payroll process be paperless to cut costs, maintain the security of your company’s data and prevent time-consuming by technology method.

Invest in payroll management software help you eliminate disadvantages of manual process on paper as low confidentiality, take a lot of time, and calculate data incorrectly, paper documents are also easily broken…, by this way, technology can also reduce some part of the non-profit burden for HR employee.

Regular training and educating

Continual education and training are critically important for corporate and especially true for HR and payroll professionals. Payroll management has never been a static profession but is dynamic and evolving. Changes in technology, in available tools, services, and regulation requires payroll professionals to be constantly improved.

The role of the HR Manager is constantly expanding and in many ways, evolving as business changes, technology progresses, and the demands on the human resources departments shift. On-going education - whether formal or self-administered - is essential for the successful HR professional.

Keep up with legislation:

Compliance with legislation can say that it is very important with every corporate. The legislation is not stable; it can change labor regulation, public administration procedure… if you miss new regulation for labor, business as change tax rate, social insurance rate, compensation for employee… so you must often update labor law to prevent “A miss is as good as a mile”

Outsource your payroll:

If you want to have a better payroll management system to maximize benefit, but you do not have the time or resource and cost is a burden toward your business, Outsource your payroll is the reasonable solution.

Payroll outsourcing is one of HR management trendy to free worry, reduce cost and save time suitable for many types of business

According to a study released by the staffing services firm Robert Half and Financial Executives Research Foundation, the research affiliate of Financial Executives International, forty-seven percent of U.S. Companies reported outsourcing payroll.

Larger companies tend to be more likely to outsource payroll, with the survey showing that 73% of companies with revenues of $5 billion or more outsourced this function. In addition, outsourcing of tax filing rose in 2014 to 42%, up from 30% in 2013.

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