One of the most important human resources functions is payroll. Ensuring that employees get the right amount of money each month at the right time is of paramount importance. Your employees work to get an accurate and prompt salary. Their livelihood is critical - people need to pay bills, buy food and care for their families. As an employer it is your responsibility to make sure the payroll services are handled efficiently and professionally whether you manage them in-house or use an outsourced solution. If you do not provide adequate provisions within your human resources department for this key function you will very quickly find yourself with an aggrieved and dissatisfied workforce.
If you have your payroll solutions in-house then there are a variety of software packages available that can make the job run smoother. Most payroll software covers payroll processing and it provides your HR team guidance through the work intensive payroll process. Most software packages will follow a similar kind of process:
1. Employee hours are calculated to work out the salary amount, calculate any bonuses or commission accrued and overtime payments will be evaluated.
2. Any necessary taxes will be deducted
3. Other fees such as child support and tax levies will be subtracted
4. A pay cheque or money transfer directly into the employees account will be carried out
5. Other payments to third parties and agencies will be made
A reputable HR consultancy can help you to find payroll software that meets with your businesses requirements. A good software package will minimise human error and will ensure that your human resources team manage payroll professionally and accurately.