Is payroll taking up too much of your time?
In our last blog article, we looked at how payroll has become a disruption for many HR departments in the oil and gas industry due to the volume and variety of contractors, the number of situational variables of different projects, and the quick turnaround needed in many scenarios.
To help those who are experiencing these issues, in this blog we explore the top 4 ways that HR departments can alleviate this burden.
1. Ensure the HR and Accounting departments collaborate
Who handles payroll in your company? Most people would respond to this question with the simple answer ‘the Accounting Department’. However, in reality the payroll function should be handled collaboratively between both HR and Accounting.
Why? To maximize efficiency by seamlessly navigating complex regulatory, hiring and compensation matters. By setting up a communication plan between HR and Accounting you can boost payroll efficiency and improve both internal and external payroll communication.
2. Include payroll considerations in your workforce plan
Ensure that your workforce plan includes consideration of compliance issues; this helps to plan for the unexpected, mitigates risks and provides clarity as policies evolve.
Your workforce plan should be inclusive of the following payroll considerations:
- Electronic time keeping system
- Essential payroll tax forms
- Federal and State Income tax withholding
- Minimum wage requirements based on State and Federal regulations
3. Implement a cloud-based payroll system
An up-to-date, cloud-based payroll system can streamline and automate payroll processes, mitigate potential errors, and reduce the amount of effort and time involved in calculating hours, wages, and tax withholdings.
Users also benefit from the reporting and analysis features of these systems, which can ultimately provide insight into efficiency, accuracy, and control of the payroll process.
Other benefits of using a payroll system include:
- Paperless work environment
- Electronic timesheet
- Meet deadlines and maintain compliance
- Staff and contractor classification
- Data security
- Employee access/portal
4. Outsource payroll if time and cost restraints become unmanageable
When all efforts of alleviating the payroll burden have fallen short, outsourcing your payroll may be the right move.
Outsourcing your payroll can provide various benefits, aside from the obvious time and cost savings, working with an accredited payroll vendor can also help ensure your payroll is compliant and reliable. A payroll vendor will have a team of experts to mitigate risks, manage productivity, and provide enhanced security.
Payroll is a complex and time consuming task. If you recognize that your payroll burden has become overwhelming, then soliciting the help of an outside professional payroll service provider can save you time, money and provide peace of mind.
Working with NES
As an accredited payroll partner we have the capability to seamlessly support your entire payrolling department, provide payroll solutions and manage all onboarding to fulfil your workforce needs.
As part of our payroll services we can assign a dedicated account management team to manage the delivery of your payroll services anywhere in the world. This approach allows NES to streamline the payroll process while delivering consistent and round the clock service across all our 48 global locations, allowing for clear lines of communication within your organization.
We also operate automated payroll solutions that are capable of supporting payments to a large contractor base efficiently, compliantly and accurately. In addition to offering our own electronic timesheet system we have extensive experience utilizing third party timesheet and payment systems through our client and supplier partnerships.
We are part of the Chartered Institute of Payroll Professionals (CIPP) Payroll Quality Partnership (PQP) scheme, a quality accreditation demonstrating best practice. We also won the International Payroll Provider of the Year category at the 2016 CIPP Excellence Awards and have been shortlisted for two categories at the 2018 CIPP Excellence Awards (International Payroll Service Provider of the Year and Project of the Year).
With the experience of our global payroll teams we can successfully and strategically determine the solution that best suits your company’s needs.
Interested in hearing how we can help you with payroll? Contact us today to find out more.