Some things in life are better left out of our hands. For instance, you wouldn’t go to a Michelin-starred restaurant to cook your own five-course meal. And you probably wouldn’t agree to riding an experimental jet into the stratosphere if you had to be the one to land it safely.
That’s because we leave those feats to the experts. But in the world of HR, who’s the expert on an employee’s pay? The HR director? The CEO? Jerry in accounting?
The answer? None of the above (but maybe keep an eye on Jerry). Instead, try employees.
Think about it: They already manage their own time sheets, benefits, tax forms — nearly everything that makes up their compensation. Even so, some HR professionals believe self-service payroll translates to an all-access pass to their organizations’ budgets.
But empowering your workforce to do their own payroll doesn’t unlock the vault; it unlocks efficiency for your entire business. Still doubtful? Let’s use Beti®, Paycom’s self-service payroll tool, to debunk these common myths starting with the first elephant-shaped question in the room:
“Won’t employees just pay themselves whatever they want?”
A tool like Beti doesn’t enable employees to adjust payroll. Instead, it empowers them to verify payroll because they know it best. After all, an inaccurate payroll affects them most, especially when you consider that 69% of Americans live paycheck to paycheck, per the American Payroll Association.
Seeing a visual breakdown of deductions, expenses, reimbursements, bonuses and more gives your workforce the insight they need to budget for what matters — such as bills, groceries, rent and mortgages, medical payments or other important things.
But it’s not just about previewing payroll. It’s about taking a proactive step toward correcting it, should that be needed. Now, you might ask:
“Won’t this create more work for employees?”
No, unless touching a button on their phone constitutes “more work” — not to diminish any Candy Crush high scores. An intuitive experience that delivers the same ease of use employees enjoy as consumers isn’t a burden; it’s what they want!
And while approving payroll doesn’t take much effort, it opens up a world of ownership and transparency. Resolving possible discrepancies and confirming their payroll is accurate before it runs helps reduce employees’ stress, freeing them to focus on driving success for themselves and your business.
Again, given today’s HR technology already allows employees to manage virtually every factor that influences payroll, a tool like Beti just makes sense. But despite the many doors this kind of exceptional tech opens, some still ask:
“Isn’t this all just a part of HR’s job?”
In the past, sure. But that doesn’t make it right. While tedious data reentry may have been something HR dealt with, it by no means defines their job. And it really shouldn’t, especially when you look at a study from QuickBooks, which reveals that 4 in 5 time sheets contain mistakes that have to be corrected.
Imagine what happens when Beti gives employees the opportunity to catch and flag these kinds of errors themselves. Spoiler alert: You don’t have to. Because of Beti, a large auto rental company was able to cut its payroll processing time in half.
And that’s not all. Because employees are able to address errors in advance, this means less costly corrections in the form of voids, wire transfers, reversals and rushed manual checks. With fewer stressors and redundant tasks weighing them down, HR has the power to actualize themselves, focus on employee care and serve as the true strategic partner your business needs.
Learn more about how Beti enhances businesses here. And check out our YouTube series to debunk other rampant HR myths.
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.