Do you currently have a swipe technology or a biometric reader for clocking employees in and out? How do you prevent employees from ”buddy punching”?
With the current available technology you can dramatically reduce the cost of employees punching in/out for their coworkers, running up unnecessary overtime, missing punches, etc. Utilizing technology to capture all the data in the most accurate way, then reviewing the data and automatically uploading the information to your payroll services company is the most cost effective and efficient method of payroll reporting.
Not only does this method reduce your labor costs for processing but it also prevents mistakes as you eliminate the human element of manually key punching the hours.
The more efficient your system is the more accurate your cost of labor will be.
If you are still manually inputting the data, your data is only as good as the person entering it. The result is a double negative. You operate with an inefficient system and there is a really good chance you are creating mistakes that will then need time invested to solve them on the backend. The bottom-line is lost time and money.
The best way to diagnose any potential problems with your payroll is to invite an expert to conduct an analysis of your current arrangement.
If you are currently with a PEO and it’s been more than one year since you’ve had an expert look at your payroll services setup, now is the time to revisit this topic.
If you are considering a change from your current payroll provider, connect with us and we can talk with you about all the options that are available and that best suit your business needs.