Streamline Your Human Capital Management With This Easy Step
Managing payroll for a large staff can be tedious. Your employees need to be paid on a regular basis, and it can take a lot of time and effort to ensure that happens. Processing your payroll without any human resources management system (HRMS) requires labor hours that could be put to better use completing other tasks. Using Sage HRMS will allow you to approve and process payroll automatically with fewer errors and less chance of frustration for your employees.
Why Is Processing Payroll So Difficult?
Each employee you have has different factors to consider when processing payroll. Most likely, they’ve all been working with the company for different amounts of time and have different salaries. Keeping track of this information is very important to ensure your staff is paid the correct amount on time.
Your employees will all have different tax withholdings that require consideration as well. Calculating these individually can be very time-consuming. Each employee will have a different number of allowances that need to be processed against their salary. Other tax concerns may arise for special cases as well, and having an automated system field these changes greatly reduces the chance for errors.
Managing HR and Payroll More Efficiently
Your human capital management is crucial to your business. It’s important that all labor hours are being used to their full potential. Incorporating Sage HRMS will make this process simple and easy. Here are the ways Sage HRMS allows you to manage your human capital with ease:
- Electronic filing and reporting. Sage HRMS allows you to input all the information that pertains to each employee. The electronic filing will sort that information and compute the exact amount that is going into each employee’s paycheck. This information will then be filled and stored in case it is ever needed in the future.
If the state requires you to file this information, you’ll be able to submit all the required data quickly and easily. Additionally, automated systems greatly reduce the chance of error negatively impacting your business or creating a problem with a government oversight agency. Automated systems can also provide test runs for federal and state taxes if a government agency ever requires you to do so.
- Time cards and time sheets. Sage allows your employees to clock in and out easily using an online portal so you can better manage their time and ensure they’re working the appropriate hours. This can also be used to check on tardiness and hold your employees accountable. The time clock information will be transferred over to a time sheet where you can see the weekly, monthly, or yearly hours and schedules for each employee. You can leave performance comments and pass along other messages to employees if needed.
- Processing payroll. Sage allows you to spend less time and money processing payroll. By using the online time clock, you have an exact recording of the hours worked. This information will be connected to each employee profile and properly pay them for their time worked and subtract the proper deductions. Employees will have the peace of mind that comes with consistent, accurate pay and tax documentation if needed. This system can help manage paid time off or holiday earnings and let employees know of their year-to-date metrics and employment status.
- Direct deposit. Using Sage gives you the opportunity to pay your employees through direct deposit. Your employees provide you with their bank information to receive direct deposits, and Sage handles the rest. Most modern employers offer this as the standard today. If you can’t offer your employees direct deposit, their faith in your organization’s future may dwindle.
Employees have the option to deposit their earnings into one account or split between multiple accounts like checking and savings. This will increase employee satisfaction by giving them immediate access to their pay. This method is environmentally friendly and helps your company cut down on printing paper payroll checks as well.
- Stay on top of labor budgets. Utilizing electronic human capital management means you stay on top of your labor budgets. Each fiscal year, you determine how much each department must use for labor. These processes allow you to see exactly where that money is going and how that labor is being used. When you know these stats, it informs future labor budgets and gives your business a better idea of your labor needs.
Striking a balance between staffing and retention is important. You don’t want your employees to have nothing to do because there are too many of them, and you certainly don’t want to overwork them by staying consistently understaffed. Automated labor reports help you retain employees and recognize when you need to hire more.
Elevate Your Human Resources Department
Using Sage HRMS will give your HR department the skills and tools they need to ensure all staff are being paid appropriately and on time. This management system will help your HR team keep track of everyone’s salary, benefits, and other needs. This easy-to-use process makes your HR team more approachable and allows your employees to feel comfortable and confident when it comes to their pay. This will affect employee retention and motivation rates, which ultimately impacts your bottom line.
The Sage system streamlines your human capital management. Quickly recognize and address any employee-related financial issues and maintain your bottom line with Sage. Get the information you need to make future decisions about labor budgets and other human capital concerns.