It used to be when you were shopping for payroll software all you were worried about was finding a solution to process your payroll; that is no longer the case, it seems (and for good reason). Now when you’re evaluating payroll software you’re looking for a system that can handle a little bit more. Does it have a time and attendance component? What about applicant tracking? It has become very clear that payroll and HR functions have slowly merged together over the past few years, so a system that can only tackle your payroll will no longer cut it. Adapting with that change, many software providers have added some bonus features into payroll that you may not be aware of.
The reminder dates feature is useful for a number of things; if you’re looking to update information such as an upcoming employee address change or to schedule a quarterly review with your team, reminder dates is a great way to do so. Many businesses will use this as a way to track a pay rate change for an upcoming payroll. For example, you tell an employee they will receive a pay increase in 60 days; you can go into reminder dates and schedule that change and once the date rolls around you will not be able to run payroll until you accept or deny that change. This is a great checks and balances system.
This feature acts as document storage which is specific to each employee. Examples of forms would be benefit election forms, a signed copy of the employee handbook, or a signed copy of past performance reviews. Folders can be set up so the information is viewable by an individual employee, a department, or simply the supervisor themselves. Folders are designed to host documents such as a PDF, excel, word doc, and so on. You can either create folders on an individual's specific profile, or you can create a folder that will populate globally (into each employee’s profile).
The events portion is a great way to track employee certifications, licenses, and so on. Let’s say you work for a trucking company and you need a way to track which drivers are current with their commercial driver’s license and which are coming up for expiration. Tracking this information in your events section of payroll allows you to quickly run reports and get a snapshot of who needs to begin the process of renewing their license or certifications.
Still running payroll in-house? Check out our blog post '3 Signs You Need Payroll SaaS'.