For most small business owners, their company is their livelihood, and so it’s important to get every aspect of it right, even down to payroll and human resources. Once you’ve got a set of employees (or even just the one employee!), your business could depend on how satisfied they are with the way in which they are paid; are the hours correct and is the pay timely. While it may seem more cost effective to try and manage payroll and human resources yourself, it often ends up costing you less to implement an online payroll system and outsource your human resources management:
What exactly is an online payroll system and how do I get one?
An online payroll system operates in the virtual cloud and allows you to manage and run your company payroll, from anywhere. It can be used to pay all employees, from those who work part time, full time or on a casual basis.
Some of the services an online payroll system can provide are as follows:
- Payroll processing
- Filing and paying payroll taxes
- Reporting new intake
- Paid time off management
- Payroll reports
- Employee self-service
Engage with a company that specialises in small business payroll solutions, and you’ll find that their packages often include human resources management too. They will work closely with you while they thoroughly assess your business needs, and then work towards creating a package to suit you.
Why should I use an online payroll service for my small business?
Even if your business is young and your employee numbers are small, having a professional company set up an online payroll system for you, allows you to concentrate on all the other tasks involved with a new and growing business.
Payroll can be complicated and time consuming, even with a small workforce, and as most business owners aim to expand their company’s over time, you will reap the rewards of having a fully functioning online payroll system set up to meet the demand.
Why do I need HR management support?
Paying your employees accurately and in a timely fashion is one thing, but there are many more aspects of employment to be taken into consideration, no matter the size of your workforce.
Small business owners are often unaware of the many and varied employment laws and regulations that they must adhere to, to remain compliant with state and federal rules. This may be because they have a small number of employees, but even with one staff member, the law must be followed, or costly penalties could apply.
Hiring a company to manage your human resources for you would not only help you to avoid making costly mistakes, but could offer you support and guidance with every aspect of human resources. Their automated systems are tailor made to suit your business’s needs, and can effectively manage benefits, handbooks, employee records and workplace policies.
What will be included in a HR management package?
An online or software solution entitled ‘The Human Resource Information System’ (HRIS) enables data to be entered, tracked and updated to meet any business’s human resources requirements, along with their payroll, management and accounting functions.
Companies offering professional payroll services, will each have some form of HRIS, and they will ensure that the correct one is used for your small business. Most HRIS’s provide the following:
- Employee information management
- Benefits administration
- Company related documents
- Payroll integration
- Resume management and applicant tracking
- Performance development plans
- Training records
- Disciplinary actions
So why not let a professional payroll services company, take the stress and strain out of the payroll and human resources management aspect of your business? Whatever the size of your business and no matter how young and newly developed it is, you will always reap the rewards of having a contented workforce, and being safe in the knowledge that your business is compliant with all employee related laws, is not be sniffed at either.