How do your employees feel about payroll? Is it accurate, stress-free and easy to update before it runs … or the exact opposite?
We know you don’t want the latter. But if employees can’t manage their own payroll, frustrations are inevitable. It might sound wild, but just take it from Corporate Natalie.
Paycheck problems
HR trusts Natalie with a lot. In fact, her company lets her manage her own:
- time sheets
- overtime
- benefits
- expenses
- vacation
Granted, she does this either manually or through multiple different systems, but she’s the only one who knows her information. Yet when it comes to her paycheck, she’s not in the driver’s seat. Why?
According to a OnePoll survey commissioned by Paycom, 91% of HR professionals agree that payroll errors damage employee trust in the organization.
Employees hate when their paycheck isn’t 100% accurate, along with overly complex payroll processes. And no business benefits from fractured engagement. There’s got to be a better, easier way.
Spinning the payroll wheels
While she’s on vacation, Natalie just loves calling her boss about those numbers missing from her paycheck. She didn’t want to enjoy that poolside drink anyway!
And yet HR professionals are still stuck with tedious, time-consuming payroll … then there’s the whole corrections process. Yuck! It’s anything but easy.
In the same OnePoll survey, 64% of HR professionals reported having to make retroactive adjustments due to miscalculated payroll. HR can’t do what it does best when it’s stuck:
- making rushed corrections
- cutting last-minute paper checks
- submitting wires, voids and reversals
Plus, all of those are costly, not only to your workforces’ morale, but to your bottom line. What if Natalie could help ensure her paycheck is perfect every time before payroll runs? After all, its accuracy matters the most to her.
With proactive employee-driven payroll, employees verify their paycheck — including benefits, deductions, PTO, mileage, expenses and hours — before payday, delivering much-needed peace of mind and freeing HR to drive strategy, maximize ROI and build an empowering, engaging culture.
Don’t think it’s possible? Learn how Beti®, Paycom’s employee-driven payroll experience, transformed a Florida aviation company:
“Payroll used to take three full days. That’s 24 working hours,” said the company’s HR vice president. “With Beti, we’re down to just four hours. That’s a significant improvement.”
The bottom line on your bottom line
Whether she’s on a conference call or finalizing an annual report, Natalie gets work done. And she enjoys it! Chances are, you have employees like her.
You know what they don’t like doing? Discovering their paycheck’s inaccurate or rushing to get answers about missing overtime, vacation hours or erroneous 401(k) contributions after their incorrect paycheck already hit their account.
When employees are in the dark about payroll and don’t see it until after it’s deposited, that’s just the tip of the inefficiency iceberg. It won’t take much more confusion — if any — to push them away.
This needless back-and-forth — after their paycheck was already incorrect — doesn’t just increase employee frustrations; it holds your business back, too! Every minute employees spend stressed about payroll corrections after the fact is less time they have to further the organization’s goals. Those inefficiencies add up, but they don’t need to anymore.
When employees are empowered to resolve payroll issues before processing, they gain confidence their paycheck is going to be accurate, meaning their bills will get paid on time. Then they invest that confidence — and their time — back into your business.
Learn more about how Beti empowers your employees. And explore how Paycom’s single software transforms the way you do business.
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.
