Payroll Buyers Guide
Payroll is More Than Cutting Checks
Every business has a different way to process employee payroll and in most cases, there’s room for improvement. Some businesses process payroll manually from written notes and excel spreadsheets, while others use software that might not be the most intuitive or updated HR tool.
You might make the mistake of seeing payroll as merely cutting checks, leaving out time and attendance, benefits tracking, compliance, onboarding, and reporting, which are then locked away in separate vendor solutions. But sophisticated payroll vendors integrate everything into one seamless platform, dramatically reducing the number of separate systems, errors, and time related to the entire payroll and HR process.
In this payroll and talent management buyers guide, we’ll walk through key reasons why separate, disjointed HR solutions might be harming your business and key criteria to look for when switching payroll providers.
The Hireology Payroll Buyers Guide
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How many Systems Do You Use for Your HR Processes?
These systems, among others, can include:
You might have so many HR systems in place that you’ve lost track of how many and the effectiveness of each – which can cause your productivity and profitability to take a hit.
Running your HR efforts through countless solutions can hold your business back in several ways:
It’s an administrative headache for employees and staff
The problem with running your HR efforts through a variety of different solutions is they often don’t communicate or integrate with one another, leading to added administrative work for your employees and staff.
If an employee updates his or her benefits in one system – such as opting for different health care coverage – your HR or finance staff will have to manually update this information in the payroll platform. On the employee side, your staff will have to keep track of logins and passwords for each system and manually update several systems if they change addresses or other information.
It poses a risk for human error
Fees for multiple systems add up quickly
You’ll have limited insight into your hiring and talent management health
What to look for in a Payroll & Talent Management System
Integration with your hiring platform
A user-friendly interface
Time & attendance tracking
Dedicated customer service
Streamline Your Talent Management
Payroll-related costs can account for as much as 50% of your total business expenses, so it’s critical to strive for efficiency and accuracy. Beyond paying employees, payroll and talent-related data can unlock trends and insights to help you hire smarter and drive profitability long-term.
By partnering with an integrated payroll and talent management system, you can save your business time, increase productivity and maintain compliance, among other benefits.
Hireology streamlines hiring, onboarding, payroll and talent management – from hire to retire – in one integrated platform. And we’re one of the only platforms to offer a dry payroll run alongside your existing vendor, so you can have complete confidence in the platform’s accuracy before you make the switch.