Improve Your Payroll Management Process
Nov 09, 2020
Improve Your Payroll Management Process

Payroll can prove to be a challenge for many businesses. A task that is so regular should be something that runs efficiently, but unfortunately that doesn’t always happen. 


As businesses grow, payroll management can also grow to be frustrating. Does being on the phone for hours trying to fix issues with your payroll company sound familiar? Or maybe you need a more robust payroll platform in order to be more productive? Maybe you have the technology, but you’re left figuring out how to use it on your own and not using it to its full capability? Time and attendance, ​GL integration, reporting, and other record keeping can quickly become a frustration.

 

Here’s Some Helpful Ways to Create a More Efficient Payroll Management Process


1.     Outsourcing to Save Time and Money

Many companies do not have the resources or bandwidth to manage the payroll process. Outsourcing your payroll is a cost-effective alternative to having your own payroll team. Depending on how in depth your payroll needs are, from direct deposit, W-2 processing, compliance, timekeeping, tax filing, reporting, 401(k) administration and other tasks, you can have access to both payroll technology and the support you need. 

 

You might not have the necessary time needed to stay on top of all the laws and regulations to maintain compliance, or the knowledge of the best payroll platform solution for your business, or finding the best structure for your payroll process. Outsourcing your payroll to SimcoHR can give you peace of mind when you just don’t have the time or the finances to handle ​these ​tasks on your own.  SimcoHR can also integrate, beyond payroll, other services within HR and employee benefit operations to manage and streamline your systems resulting in increased productivity.

 

2.     Simplify and Streamline Your Payroll System

There are several benefits to using a payroll platform. You can decrease the risk of human error; you can make it easier to control and maintain time and attendance that would allow you to discover trends that could lead to cost saving opportunities.

 

Streamlining your payroll system is a solution to improving your payroll management process. A professional overseeing your payroll can also advise you on ways to improve your existing system. You can accomplish this through technology. Not only will your payroll process be more manageable ​than a paperless system, but it will save you a significant amount of time. A paperless payroll process utilizing an online platform will offer a secure way of handling your payroll data. 

 

3.     Is Your Payroll Software Up to Date?

When is the last time you investigated payroll software options? Upgrading your platform can allow you to be more productive at your business. If you find that you’re spending too much time on payroll, then it’s worth looking into. There ​are a variety of platforms now available to fit different sized businesses and their needs. From basic payroll platforms for small businesses, to large robust platforms that integrate benefits and HR to help streamline your business. 

Spending less time processing your payroll, with increased accuracy in entering in data and processing is a win! Technology alone may not be your answer, but when it’s backed by a service that can walk you through getting the most out of your technology, or teaching you how to use it, ​it can make managing your payroll a much better experience.

 

4.     Simplify Your Pay Schedules

Weekly, bi-weekly, bi-monthly, hourly and any combination of pay schedules can be difficult to manage. If you are a business who has to stay on top of several pay schedules, consolidating everyone to one type of pay schedule is more efficient, easier to maintain and creates less room for errors. ​SimcoHR can assist with this.

 

5.     Payroll Education and Continuous Learning

Continuous learning is vital for any business, and any industry. Payroll management is no exception. There are always technological advances to stay on top of, or new rules and regulations that are always changing. It’s a best practice to educate and train yourself on an ongoing basis about the latest things happening that could either make you compliant, or simply more productive. ​

 

6.     Payroll and Compliance

A big part of managing payroll is tax filing. It can be extremely costly and devastating to a business who fails to ​be in compliance with laws and regulations or meet required deadlines. Be sure your payroll processes have incorporated into it your state and federal payroll, and tax regulations and apply any necessary changes.

 

SimcoHR can help you with all of these tasks by being your full-service payroll company. They also have several other platforms available in HR, employee benefits, and risk management that all work together to help your business. Contact SimcoHR at (585) 750-3246 for a free consultation and discover how streamlining your day to day management tasks can save you time and money.

 

You might also be interested in reading about “Costly Mistakes - Failing to Remit Payroll Taxes and Retirement Plan Contributions on Time” available here.

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DOL Issues Guidance on AI-related Wage and Hour Risks

11 May, 2024
On April 29, 2024, the U.S. Department of Labor’s (DOL) Wage and Hour Division (WHD) published Field Assistance Bulletin (FAB) No. 2024-1 on the use of artificial intelligence (AI) in the workplace. The FAB follows a statement released by the White House announcing key AI-related actions following President Joe Biden’s executive order issued on Oct. 30, 2023, on establishing standards for AI safety and security. Guidance on AI-related Wage and Hour Risks Employers are increasingly using AI tools to generate timecards, set schedules, monitor performance, track employee hours and process payroll. As such, the FAB highlights certain compliance risks under the Fair Labor Standards Act (FLSA) for employers using these tools. These risks include: Tracking employee work time; Monitoring employee break and waiting time; Using location-based monitoring for individuals performing work at multiple geographic locations; Calculating employees’ regular rate of pay and overtime compensation; and Violating the FLSA’s antiretaliation provisions To aid employers in addressing these compliance risks, the WHD identifies recommended practices, including exercising proper human oversight, to help ensure that AI systems and tools do not violate the FLSA. Additional AI-related Guidance In addition to addressing FLSA compliance risks, the FAB also examines certain AI-related risks that may arise under other laws, including the Family and Medical Leave Act (FMLA), the Providing Urgent Protections for Nursing Mothers Act (PUMP Act) and the Employee Polygraph Protection Act (EPPA). For example, using AI tools to administer FMLA leave can create potential risks for violating the law’s certification requirements when determining whether an employee’s leave is FMLA-qualifying. Employer Action Items While FABs are not necessarily legally binding, they offer insight into how the DOL interprets laws it enforces and how agency officers will analyze workplace conditions and circumstances to enforce compliance.  Using AI systems for scheduling, timekeeping and calculating rates of pay and overtime may increase an employer’s risk under the FLSA. Therefore, employers should ensure that their AI systems and tools comply with all federal laws and regulations by examining potential legal and business risks associated with AI, implementing AI usage policies and establishing internal best practices.

Nurturing Your Mind: Embracing Mental Health Awareness Month

30 Apr, 2024
As we step into May, we're reminded of the importance of mental health and well-being. May marks Mental Health Awareness Month, offering us an opportunity to renew our commitment to nurturing our minds and fostering supportive environments, both in and out of the workplace. In this blog post, we'll explore practical strategies for enhancing mental health, including small tips that can refresh you mentally during the workday. Embracing Self-Care Amid life's hustle and bustle, it's crucial to carve out time for self-care. Whether it's practicing mindfulness, engaging in hobbies, or simply taking a moment to breathe deeply, prioritizing self-care nurtures mental resilience and fosters a sense of inner peace. Cultivating Work-Life Balance In today's fast-paced world, achieving a healthy work-life balance is essential for mental well-being. Set boundaries between work and personal life, establish a routine that includes breaks and leisure activities, and strive to unplug from technology during downtime. Remember, balance is key to sustaining productivity and happiness. Fostering a Supportive Workplace Culture Employers play a pivotal role in promoting mental health in the workplace. Encourage open dialogue about mental health, offer resources such as counseling services or mental health days, and prioritize flexibility to accommodate employees' well-being needs. By fostering a supportive culture, organizations cultivate environments where employees feel valued, understood, and empowered to prioritize their mental health. Supporting Loved Ones If someone you care about is struggling with mental health challenges, your support can make a significant difference. Listen without judgment, offer empathy and reassurance, and encourage them to seek professional help if needed. Remember, your presence and understanding can provide comfort and strength during difficult times. Practicing Gratitude Gratitude is a powerful tool for enhancing mental well-being. Take time each day to reflect on moments of gratitude, whether it's appreciating the beauty of nature, expressing gratitude for supportive relationships, or acknowledging personal achievements. Cultivating a mindset of gratitude fosters resilience and enhances overall happiness. Small Tips to Refresh Your Mind During the Workday  Take short breaks: Step away from your desk for a few minutes to stretch, walk around, or simply gaze out the window. These brief pauses can rejuvenate your mind and boost productivity. Practice deep breathing: Incorporate deep breathing exercises into your day to reduce stress and promote relaxation. Close your eyes, inhale deeply through your nose, hold for a few seconds, and exhale slowly through your mouth. Connect with nature: Spend time outdoors during your lunch break or coffee breaks. Even a brief stroll in a nearby park or green space can invigorate your senses and clear your mind. Listen to music: Create a playlist of soothing music or uplifting tunes to listen to during work breaks. Music has the power to uplift your mood, reduce anxiety, and enhance focus. Stay hydrated: Drink plenty of water throughout the day to stay hydrated and maintain mental alertness. Dehydration can impair cognitive function, so keep a water bottle handy and sip regularly. Practice mindfulness: Take a few moments to practice mindfulness or meditation exercises. Focus on your breath, observe your thoughts without judgment, and cultivate a sense of presence and calm. Declutter your workspace: A clutter-free workspace can promote mental clarity and productivity. Take a few minutes to tidy up your desk, organize files, and create a calming environment conducive to focus. Engage in positive self-talk: Replace negative self-talk with affirming and encouraging statements. Remind yourself of your strengths, accomplishments, and capabilities, and cultivate a mindset of self-compassion and resilience. Connect with colleagues: Build supportive relationships with coworkers by engaging in meaningful conversations, sharing experiences, and offering mutual support. A sense of camaraderie and connection can foster a positive work environment and bolster mental well-being. As Mental Health Awareness Month unfolds, let's commit to nurturing our minds and supporting those around us. By embracing self-care, fostering work-life balance, promoting workplace well-being, and offering compassionate support to loved ones, we contribute to a culture of mental health awareness and resilience. Remember, you are not alone. Reach out for support if you need it, and let's journey toward better mental health together.

DOL Announces Final Overtime Rule Increasing Salary Levels for White-collar Employees

30 Apr, 2024
On April 23, 2024, the U.S. Department of Labor (DOL) announced a final rule to amend current requirements employees in white-collar occupations must satisfy to qualify for an overtime exemption under the Fair Labor Standards Act (FLSA). The final rule will take effect on July 1, 2024. Increased Salary Level The FLSA white-collar exemptions apply to individuals in executive, administrative, professional, and some outside sales and computer-related occupations. Some highly compensated employees may also qualify for the FLSA white-collar overtime exemption. To qualify for this exemption, white-collar employees must satisfy the standard salary level test, among other criteria. This salary level is a wage threshold that white-collar employees must receive to qualify for the exemption. Starting July 1, 2024, the DOL’s final rule increases the standard salary level from: $684 to $844 per week ($35,568 to $43,888 per year); and $107,432 to $132,964 per year for highly compensated employees. On Jan. 1, 2025, the standard salary level will then increase from: $844 to $1,128 per week ($43,888 to $58,656 per year); and $132,964 to $151,164 per year for highly compensated employees. Automatic Updates The DOL’s final rule also includes mechanisms allowing the agency to automatically update the white-collar salary level thresholds without having to rely on the rulemaking process. Effective July 1, 2027, and every three years thereafter, the DOL will increase the standard salary level. The agency will apply up-to-date wage data to determine new salary levels. Impact on Employers The first salary level increase in July is expected to impact nearly 1 million workers, while the second increase in January is expected to affect approximately 3 million workers. Employers should become familiar with the final rule and evaluate what changes they may need to adopt to comply with the rule’s requirements. Legal challenges to the rule are anticipated, which may delay the final rule’s implementation.

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