Stateside employees aren’t the only ones who can do their own payroll. Now, international workers in Mexico have access to Paycom’s single software. This expansion also brings Beti®, our employee-guided payroll tool, to even more people throughout North America.
It doesn’t matter how large or widespread a business is — all its employees deserve accurate pay and easy access to their data. Earlier this year, Global HCM™ made many of Paycom’s HR tools available to people in more than 180 countries and in nearly 20 languages and dialects. Canada and Mexico, however, gets to experience payroll the way it should have always been: in employees’ hands.
Beti doesn’t just enhance employees’ lives either. It cut the time spent processing payroll by 90% for a composite organization representative of interviewed clients, according to a commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Paycom in June 2023.
As Beti begins changing the lives of people around the world, let’s explore how the tool specifically supports retention, engagement, operations and work culture.
How does Beti help boost retention and engagement?
People work to get paid. Period. If a company can’t consistently and accurately fulfill that expectation, it won’t keep employees for very long. In fact, 51% of employees said they would look for a new job if they experienced any payroll errors, per a survey conducted by The Harris Poll and commissioned by Paycom.
Meanwhile, Ernst & Young (EY) found 1 in 5 of the average company’s payrolls contain errors. Any one of those mistakes has the power to harm employees, push them away and force them to make difficult choices about their livelihood, no matter where they live.
But while mistakes are inevitable, their consequences aren’t. Beti automatically finds errors and guides employees to fix them before payroll runs. In other words, the tech prevents trust-breaking issues before they spur turnover.
At the same time, Beti helps people understand their pay on a deeper level. It gives employees a constant opportunity to review, verify and engage with everything that makes up their pay, including:
- wages
- benefits
- taxes
- expenses
- PTO
- and more
Combined with the rest of Paycom’s self-service tools, workers don’t have to ask HR for every bit of basic info they should’ve had access to all along. Instead, they can shift from simply doing a job to building their career.
“The longevity of my employees at the sites that have the full Paycom experience has increased from nine months to 16 months on average,” said a payroll manager in the manufacturing industry interviewed for the Forrester Consulting TEI study. “Those employees are staying for 75% longer.”
It doesn’t matter if an employee works at a facility in Florida or remotely in Toronto or Mexico City — all of them benefit from greater payroll insight.
How does Beti make processing payroll more efficient?
Beti eliminates so much of the time involved with payroll because it fundamentally changes how the process works. It’s not enough to just automate portions of payroll. Sure, it might make some steps and calculations a bit easier, but even seemingly powerful systems fail if they keep employees out of payroll.
Think about how payroll normally runs. An employee first submits their hours, expenses and anything else that goes into their pay. HR then reviews the data — often manually transcribing it into their payroll software over several hours or days — before hoping all of it is right. Finally, if an employee finds anything wrong with their check, they have to bring it up with HR after it affects them.
The result? An endless series of retroactive, expensive and time-consuming corrections. EY found the average payroll error costs $291 to fix. And in a year, a 1,000-employee company could lose nearly $1 million to these preventable issues.
Beti makes that historically retroactive process proactive by empowering employees to verify their pay and resolve issues early. As a result, HR manages payroll rather than painstakingly building it with little to no assistance. This led to 2,600 hours gained back each year for the composite organization’s HR and accounting teams in the Forrester Consulting TEI study.
This extra time is priceless when HR must support an international workforce. Rather than troubleshooting payroll, HR has the chance to invest time in more impactful work, like:
- recruiting new talent
- improving company culture
- implementing more holistic benefits
- gathering and addressing employee feedback
- strategizing new development and engagement opportunities
- and much more
How does Beti improve company culture?
Imagine you just got your dream job for a U.S. company at its satellite office in Puebla. But gradually, this once-in-a-lifetime opportunity starts to lose its luster. Eventually, you begin to wonder if all of your big professional goals could be fulfilled somewhere else.
Why? For starters, the company didn’t offer an intuitive application process. In fact, it took two weeks to hear anything back because your app was “lost in the shuffle.” Then you spent three workdays completing onboarding and orientation — you even had to mail a copy of your ID to your employer’s home office in California.
And when you finally received your first check, your HR team forgot to account for your country’s taxes and overcharged your benefits. HR tells you it’ll take at least a week for them to correct the issue and your pay.
In less than a month, you’ve uncovered all of these red flags. Would you stick around for this employer? Probably not, and you definitely wouldn’t believe you’re working for a company that actually cares about its people.
It takes a lot to build trust and very little to sabotage it. Businesses need to take every chance they have at boosting employee morale, engagement and confidence — including in the processes their people regularly interact with.
Paycom and Beti lay a foundation for a culture built on:
- trust
- accuracy
- transparency
- accountability
Because Paycom is a truly single software, employees enter their data just once before it seamlessly flows from one tool to the next. If they need to make changes or call out an issue, they can do it instantly without taking hours out of HR’s schedule. This is true even if their HR professional is thousands of miles away.
Paycom and Beti give employees something more than a cool perk or convenient functionality. It gives them agency because they’re entrusted with the data that impacts them the most. And with that agency, employees find more than just a job. They find purpose.
Explore Beti to learn how it helps retain, engage and empower your employees — even those in Canada and Mexico.
DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.