Even with the growing use of technology in today’s world, HR and payroll processing still largely operate the same way they did decades ago. Thankfully, as our reliance on technology continues to grow, so do our options when it comes to the HR and payroll services we use. Technology has made it possible to dramatically improve those services, and this article looks at five ways that technology is changing HR and payroll processing.
1) Reducing Costly Data Entry
With their employees scattered across several states, or even countries, many companies find it impossible to keep track of their payroll data. The result? Employees who aren’t paid accurately, on time, or even at all. This can be quite costly for employers—and not just in terms of lost productivity; over one-fifth of employers with insufficient records have ended up paying out an average of USD$7,000 in fines.
Investing in advanced payroll software can help reduce these errors significantly by automating your most tedious tasks. With cloud-based systems like UZIO finding, your most up-to-date employee information will never be easier than ever.
2) Improving Internal Processes
Companies are increasingly embracing cloud-based systems for everything from payroll processing to e-mail management. By allowing employees to access information on company computers, remotely or while working away from their desks, cloud systems are able to quickly process enormous amounts of data in real-time. This means that internal processes can become more efficient—and that employees can make better decisions more quickly.
3) Handling Increasingly Complex Issues
As organizations grow, it’s not uncommon for more employees to oversee one or more aspects of human resources, including payroll. However, no matter how many departments are involved in processing paychecks, there are still some issues that can complicate everything from filing quarterly taxes to alerting managers when an employee leaves. With increased complexity comes greater opportunity for error—but there are ways to mitigate that risk. For example, automated systems can be used to keep track of changes so they’re reflected accurately on each paycheck.
4) Automating Tasks
There are a variety of human resources (HR) software tools that can automate various tasks for you, including employee onboarding using applicant tracking system software, time-off tracking, performance management, and payroll processing. Automating these lower-level tasks frees up your employees to spend more time doing things they actually enjoy—like actually working with their team—and frees up you as an employer to focus on big-picture strategies. In addition to saving time, having these tools in place can help businesses look better from a legal perspective as well. For example, managers who aren’t trained to consistently follow company processes may be held accountable if a lawsuit ever arose related to any employment decisions they made.
5) Easing Employee Burden
When employees have to worry about how they’re getting paid or what payroll information they need to know, it just adds one more thing for them to stress over. Thanks to technological advancements, many companies are now implementing automated paperless systems for their human resources and payroll departments. These innovative solutions streamline the payroll process, allowing managers and staff members to access and review payroll details in real time through a secure platform. This shift not only promotes environmental sustainability by reducing paper use but also minimizes errors and ensures transparency, guaranteeing that everyone is compensated accurately and promptly when payday arrives.
It seems that with every passing year, there are more ways to outsource HR, making it easier for companies of all sizes to manage their payrolls. From IT outsourcing solutions to cloud computing, many businesses now use technology as an affordable solution for their business processes. No matter how they process their payroll—in-house or outsourced—the important thing is they make sure to take advantage of all technologies available to them.
