The Affordable Care Act (ACA) became law in 2010, and it has since made healthcare more accessible and affordable for millions of uninsured Americans.
An essential part of effective payroll management is periodically auditing your payroll policies and practices. Follow these critical steps to conduct a successful payroll audit and keep your payroll practices in top shape.
A unified workforce management system ties together all of the core elements of a talent management system, including payroll, scheduling, leave management, time and attendance, and other essential HR services.
When all of these pieces are pulled together in one centralized platform, you can improve efficiency, do more with workforce data, and provide a positive employee experience.
Early wage access programs allow workers to gain access to wages before their company’s regular payday. These programs are great for helping employees make it from paycheck to paycheck, which in turn increases their productivity and reduces company turnover rates.
Whether you have a few non-exempt employees earning overtime or many more, managing overtime costs is essential to keeping track of your payroll spending.
By establishing rules for overtime, scheduling, and employee attendance, you can manage overtime in real time and stay informed when costs approach or exceed your budget.
When you have a mobile workforce, some or all of your employees perform their duties outside of a traditional work location. Employees may be working from home or—in the case of rideshare workers, traveling nurses, or construction workers—conducting their work activities in the field.
Managing a mobile workforce requires efficient processes for tying employee pay to work hours. Whether your employees are located at home or remote work sites, you can benefit from setting rules for accurate scheduling, time and attendance reporting, and payroll.
Even with a solid payroll process in place, payroll errors still happen. Miscommunication between HR and payroll systems, record-keeping mistakes, or a single missed deadline can result in overpayments, underpayments, or incorrect payroll deductions.
Though the best solution is to avoid payroll errors altogether, you should still have a plan in place for what you will do when errors occasionally occur. Having the appropriate communication and follow-up with employees not only shows your commitment to making the necessary corrections, but it can also give employees peace of mind in knowing that they won’t be left to sort out the error alone.
Follow these tips for communicating payroll processing errors to employees.
Reliable HR metrics help you understand the success of people initiatives, as well as their associated costs. With good metrics, you’ll also have better insight into what’s working and what needs improvement, so you can establish priorities and track your progress. In 2021, tracking key HR metrics will also help you understand the continued impact of the COVID-19 pandemic on your workforce.
Errors and delays in payroll can be frustrating for everyone—payroll staff, HR, and the impacted employees. The problem can often be traced back to an inefficient, manual process or a payroll platform that doesn’t fully meet your needs for accuracy or integration. The good news: There are steps you can take to fix a broken payroll management system and keep your payroll processes humming.
