As you may already know, there are many different types of payroll processing: ranging from in-house to outsourcing, to even using a CPA. You’ve probably have heard of many different payroll service companies, but do you know exactly what they do and what they offer? Just like their name suggests, payroll companies ensure that employees are paid on time and that all of the employers stay compliant. Obviously, payroll is more than just writing checks, and a good payroll company will offer more than just that. Depending on the size of the company and the software’s capabilities, there are a variety of different things that payroll companies do for their customers.
Time & Attendance
One of the main responsibilities of a payroll company is to help their clients monitor their employees’ time and attendance. They do this by offering time clocks, fingerprint scanners, face scanners, mobile punches, or the software required so employees can simply log in to their accounts from a computer and punch in and out. Having a single-source solution for payroll and time and attendance means hours flow directly into payroll, eliminating dual entries between different platforms. This ensures that wages are paid accurately. Some software, like Dominion’s, offers simplified scheduling as well as informed scheduling. This allows you to quickly pull reports to see which employee are available to work and which employees are close to hitting overtime. Managers can also receive alerts for abnormal punches and they can also approve employee hours in no time.
Human Resources Management
More than just payroll and time tracking, a good payroll software should offer HR management. It should make benefits administration, applicant tracking, onboarding, and leave management easier. Online HRM systems are proficient tools used to serve the needs of the HR department. Using a cloud-based HRMS automates processes, helps keep employee data secure and makes accessing information easier. You’ll be able to access your data from anywhere with an internet connection, so you don’t necessarily have to be in the office to access that information.
- Applicant Tracking: An applicant tracking system can help you simplify your application process. You should be able to customize and match the software to meet your hiring process, view candidate's qualifications at a glance and flag important questions, and be able to task yourself and others to follow up with candidates. Dominion’s applicant tracking system offers all this and more.
- Onboarding: With an effective onboarding software, employee paperwork responsibilities are easy to complete, allowing HR people to concentrate on making the new hire’s first days are smooth as possible. A quality onboarding software should allow you to create custom tasks, complete documents online, easily transfer employee information, and automate the direct deposit setup.
- Leave Management: With this kind of software, all your leave management information will flow directly into payroll, eliminating dual entry and risk of human error. Depending on the capabilities of the software, employees are able to request time off online and view a breakdown of approved, pending, and available balances through their ESS portal.
Employee Self Service (ESS)
A good payroll service company will offer an online employee self-service portal. This is important because it allows employees to be able to view their pay stubs, W-2s, time and attendance, and other reports online. Employees can also check their schedules and even clock in and out using their ESS portal. By having an ESS, employees are able to update records such as emergency contacts, tax withholding rates, and anything pertaining their job.
This is a very important service that payroll companies should prioritize. Running payroll is not as easy as it may sound (and it doesn’t sound easy), so payroll managers may sometimes have questions that need to be answered in a timely manner. Before you decide on a payroll provider, make sure that you have done some research on their customer service. Go over their online ratings and read feedback from people who are currently with that provider, or people who were previously with them and find out why they left. At Dominion, we pride ourselves in having the best client solutions team in the industry. We average a 25-second response on our live chat and a two-minute maximum call hold, so help is never too far away.
If you are looking to streamline your payroll and HR processes, it is a good idea to look into payroll service companies and find out exactly what they offer. Make sure the company you choose will meet your needs, solve your problems, and just make life easier for you. This guide can help you make your final decision. Remember, working with a payroll service company can not only streamline your processes but also help you stay compliant with all the government laws and avoid any IRS fines.
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