January 9, 2018
3 Great Ways for Businesses to Handle Employee Payroll
A quick growing small business is enough to make any entrepreneur gleam with pride and satisfaction, and rightfully so. While these owners are happy to give their businesses everything they need to succeed, many don’t anticipate the extra work that may come with that success. Small chores, such as managing payroll, can quickly become jobs in themselves. There are several different ways to keep employees happy while keeping the work load light.
Offering Direct Deposit or Pay Cards
With most employees having bank accounts or utilizing the internet to shop and pay bills, it is far more convenient to receive their paychecks as a direct deposit into their bank account or through direct deposit on a pay card. Pay cards are simply prepaid debit cards, and they work in much the same way as a bank account. This is far more convenient than the traditional paper check, which tends to take longer to receive and it still must be cashed after the employee obtains it.
Enlisting Help with Payroll
Payroll can be a taxing job as a small business grows. With the addition of new employees, extended hours, and expanded inventory, payroll becomes trickier and trickier. It can be a lot of work to manage fluctuating schedules, rotating employees, and last minute shift swaps within the payroll department. Payroll services for small business relieves some of the pressure, allowing the business owner to outsource some of this work.
Offering Employees Real-Time Time Clock Updates
When employees punch in and out through the work week, they may be interested in how many total hours they have clocked. Situations are constantly arising within businesses which cause employees to alter their schedules. They have to come in earlier or later for scheduled shifts, or perhaps leave earlier or stay later. Whatever the reason may be, it’s a wonderful reason to supply an on demand summary of clocked hours. This also allows employees to help catch time clock inaccuracies before the pay period ends so they can be corrected quickly; reducing the risk of incorrect paychecks. Even though it may only be a few dollars difference, inconsistent paychecks must be corrected, and this can take quite a bit of work.
Managing payroll can become a bit harder as the business grows, but there’s no need to fret! As long as a business owner is able to evolve payroll processes to suit the growing company’s needs, the company can continue to expand while keeping employees happy.